Docstoc

factors to consider before starting a business-

Document Sample
factors to consider before starting a business- Powered By Docstoc
					?factors to consider before starting a business:

Starting a business requires determination, motivation and technical know-how.
However, before you go ahead with any plan, it is necessary to take a close look and
ask yourself some important questions.

David Bond, entrepreneur, writer and businessman gives insight into basic
requirement for a successful business.

START-UP CAPITAL AND BACK-UP INCOME.

It takes money to make money, even if it only a home business. Make sure you have
enough funds to equip yourself and begin marketing before taking the plunge. Dont
expect to make a lot of money in the early stages of your business. You we need to set
aside enough money to provide for you and your family during the initial start-up
period for your business.

SELF MOTIVATION.

Self motivation is the key that separates an employee from the entrepreneur. If you
need to wait around and be told what to do, then you would find it easier to get a job
with a company rather than launch your own business. On the other hand, if you are
able to think of an idea and carry it out without prodding from someone else, then you
may be able to succeed in your own business.

ABILITY TO GIVE MORE.

When you work for someone else you are contracted to work a certain schedule. At
the end of the day, you can forget about the job, go home and relax. When you have
your own business you carry a load of responsibility on your shoulders and you will
often end up working longer hours than a normal salaried employee. If you like what
you are doing and if your business is financially rewarding then you may not mind
putting in a lot of extra hours and working when other people are resting. Once again,
there is no right or wrong here. It is just a question of looking deeply and finding out
what you are best cut out do.

FAMILY BACK-UP.

Before starting a business, you need to see if your family is ready to support your
ideas. If you start your own business there may be an element of risk and an increased
demand on your time. It is important that your closest loved one, the ones who share
your life, also share your vision and will provide the emotional support and
understanding that you need in order to be successful.
http://www.donateyourcarsmi.co.cc/
stephen udugwu

				
DOCUMENT INFO