Thursday, May 3, 2012

Is Owning a Small Business For You?

Tough economic times got you down? Many Americans are reacting to unhappy stressful working environments or no working environments at all by opening their own small businesses. Have you considered this option? Here are some considerations before taking the leap!

Are you an entrepreneur? There are several ways to evaluating whether or not you have the personality or drive to run a small business. Entrepreneurship is not for everyone. This link can help you determine if you have what it takes. Go to http://isquare.com/qualities.cfm.

What kind of small business would you like to own? Evaluate your own professional background and your transferable skills. Then do your market research. Is there a niche to be filled by your business idea?

Evaluate your financial situation. Where will start up funding come from? How will you sustain yourself? It might be better to keep your day job and work on your small business at night and on weekends. Be careful. Have an exit strategy that is ethical. Do not steal customers, employees, etc. Leave as friends. Your present employer may be a source of subcontracting business in the future.

Your own community may have sources of assistance for you. Have a look.

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