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10 Things to Consider Before Starting Your Own Business

Sam Geno

September 13, 2006

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1. Have a Goal

Know what you want to get out of your business. Have a business statement. Your goal should be something besides just making money. Your goal should center around helping people or providing the best service possible. If you only are in it for the money you should reconsider starting your own business. Your customers will see that you are only in it for the quick buck.

2. Know What You Are Giving Up

If you know what you are giving up before you start, starting a business will be a lot easier. For example, maybe after you get home you enjoy watching TV. But after you start your business the nights maybe the only time you have to work on your business. So you would have to give up TV at night. Or maybe the extra spending cash you use for shoes will have to go towards your home-based business. Remember you can't have something for nothing.

3. Act

When running your business you will have to take action. Are you the type that procrastinates? Remember it's your business and you are in charge. No one is going to tell you when to wake up and when to start working. Your fate is in your hands.

4. Acknowledge Problems

Some people live in denial. When running your business you must acknowledge problems and solve them. If you have a difficult time being truthful with yourself you may want to consider another route. Problems will not go away on their own, the responsibility is yours.

5. Ask Questions

When choosing which business to start ask questions. Find out what you are getting into. Do not go in blindly.

6. Know your limits

What are your limits? Financially how much can you afford to spend? How much time can you afford to give? These are some of the limits you must know before you start your business.

7. Make quick decisions

Do you have the ability to make quick and intelligent decisions? This is a skill all business owners must have. Most people like to take their time when making a decision. There is nothing wrong with this but as a business owner many times the decisions have to be made in a short time. And if you are the type that is indecisive the pressure may get to you.

8. Make a Plan and Adapt.

When starting a business you first need a plan. After you have your plan, you will need to change things up from time to time. This goes back to making quick decisions. For example, you are spending money on an advertising campaign that is not working. Most people would either keep spending the money or quit altogether. As a smart business owner you would first have to find out what the problem was and make a decision on what to do.

9. Go Full Force

Are you able to give 100 percent. Even if you only have 1 hour a day to devote towards your business, can you give 100 percent of your effort for that hour? It will take 100 percent of your effort to build your business.

10. Know Your Personal Why

What is your personal why? Is it to spend more time with your family? Fire your boss? Make your family proud? Whatever it is make sure it is strong and that it will motivate you. Good Luck

Copyright 2006 Sam Geno

This article may be reprinted provided no part thereof is edited in any way and this resource box is included.

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