Considering a start-up?

“If you really want something in this life, you have to work for it. Now, quiet.  They’re about to announce the lottery numbers!”
Homer Simpson

Why wouldn’t everyone want to start their own business? It means taking control of what you do and how you do it.  It means all your hard work is invested into building something for yourself instead of others.  Theoretically, it allows you the opportunity to structure you work/life balance in whatever way you want. I say theoretically because in fact most entrepreneurs and business people we know work harder and longer hours than they did when working for someone else.  Making a success of your own business is very rewarding.  Success however,  is often built on hard work, some sacrifice and a lot of risk.  The responsibility for its success or failure rests with you and you alone.

As business people, we continue to throw ourselves into new projects, to drive our businesses forward and to challenge ourselves on a daily basis.  We know the rewards of financial success, awards and acknowledgement.  We are also aware of the risks we have had to, and continue to, incur both financially and personally.  We would advise anyone who has thought of both the upsides and the downsides of business to go for it.  Passion brings you a long way. Informed passion gives you a better chance of successfully achieving what you want to achieve by starting your own business.

Before you even explore the viability of your idea, ask yourself the following questions?

• Why do you want to be self-employed?
• Do you have the stamina to keep going in difficult times?
• Do you have the support of your family?
• Do you have the assets to sustain you and your family while building a business?

And finally, what do you want from your business? 
The answer to this may be financial success alone.  Or it may be the opportunity to travel, to see my family more often, to realise a long-held ambition or simply to contribute something important.  Knowing what you want from your business helps you measure your success by your criteria and not by others in the future.

Now that you’re clear about why you want to start your own business and what you want from it, its time to look at your business idea!