Many people decide to start a business simply because they don’t like working in a 9-5 job. They think with their own business they can choose hours that suit them or take time off whenever they like. This could not be further than the truth. Starting your own business is time-consuming and the buck stops with you.
If you are not there to see that everything is done on time or properly, your business will head very quickly to failure. That said, there is something about running a business that gets into the blood. The challenges and the frustrations are all part of the fun. Here is a checklist for starting up a business that can help smooth the way.
- Make sure you have a great idea that you are passionate about. If you don’t care greatly for your business idea you are likely to abandon it more easily when the going gets tough. And you won’t give it your all in a way that makes success surer.
- Analyse the sector your business idea is in to see if it is in a growth period or stagnant.
- Assess likely risks and work out a plan for minimising them.