I'm a firm believer in wealth creation through business ownership. However, before you jump on the small business bandwagon you need to take time out to answer some serious questions.
Here are 7 questions to ask yourself now that you have a business idea:
Are you ready to start a business?
What kind of business are you interested starting?
Why are you starting a business?
Are you passionate about it?
What difference do you want to make? What value will you add?
Are you prepared to spend the time and money to set your business up, get it off it's feet and keep it running?
Are you self disciplined enough to manage your business finances properly and keep them separate from your personal finances?
Get a notebook, brainstorm and write your answers down. Do your answers make sense to you? Do you still feel good about your business idea?
Setting up a business requires more than just a great idea. It requires a large amount of time, discipline, hard word and dedication. Once you've been honestly able to answer the questions above, then perhaps you are ready to get started on your next step to becoming a small business owner - creating a business plan. BUT, don't go out and quit your day job just yet!
I'll get into more detail about creating a business plan in the next small business series post.
Bola Onada Sokunbi