Is This the Business I Want? As yourself: Am I considering
this business because I like it or because there's money to be made? While it's
important to make money at a business,
it's more important to make money at a business that you are passionate
about. With passion, you'll have the extra drive necessary to keep you going in
difficult times.. 2. Where Will I Be 5 Years from Now? Looking ahead to your
future will help you identify your true desires. For example, if you say: “I'll
be doing something else, this is just temporary, I really want to....” Well,
then let me say, why wait? Move on to what you really want and put your effort
into that and make work. If you see
yourself as being successful in your current business idea, then you are on the
right track.
Is this How I Want To Spend My Time? Running a business
requires time. You have to keep in mind that the majority of your time will be
spent running your business. Which brings up an important question that you
need to ask yourself: Is this what I want to be doing all day for the next few
years?
Am I Willing to Put In the Necessary Time to Run this
Business? Running a business is not like a job; you don't just put in your 8
hours and then go home and forget about the job until the next day. When you
own a business, you have to put in whatever hours are necessary. You‘re the
owner and you're responsible; you can't pass the responsibility on to someone
else. 5. Is There a Market for My Business Idea? You may think you have the
best business idea in the world, but if no one wants what you have to offer,
then you're going to spend a lot of time and money for nothing. You need to
ensure that there is a demand for what you're doing, without the kind of
competition that will prevent you from succeeding.
Will Licensing and Registration of My Business Idea Be a
Problem?
Make sure your business idea is legitimate and you are able to register it.
There are laws and regulations for where, and what type of business, you can
and cannot operate. Be sure to check with your local business registration
office.
Do I Have Family Support?
Running a business takes time money and dedication. Running your business can
easily disrupt your family life and put pressure on relationships. Be sure you
have the support, because if you don't, you may hear, “I told you so,” every
time you hit a bump.
Will this Business Support Me?
You need to figure out if this business will support you. Will you need to stay
at your job until you business takes off, and when it takes off, will it be
enough? This issue has a lot of variables involved but you need to have an idea
if your business will support you or not. And don't just look at sales; you
need to look at profits. Because if your sales are $500 a day and your profit
is $50 then you can only count on the $50.
Comments
Post a Comment