Deciding to Start Your Own Business

You are never too young to start your own business. If you have an idea and the desire, you’re half way there. Individuals decide to go into business for themselves every day. As a matter of fact, much of the growth in the U.S. economy is due largely to small businesses. Some of the reasons people decide to start their own business are:

  • They want to do things their way.
  • They don’t want to work for someone else.
  • They have a specific idea they want to carry out.
  • They want to make a difference in their community.

  • Starting a business is great but it is also a very serious decision. There are a lot of things that you need to take into consideration. You must always remember it will require a lot of hard work. You may even find yourself working harder than you would if you were working for someone else. However, if you dream of owning your own business and are willing to do the work it takes, it can be a very rewarding and successful journey.

    Now what exactly is it that you want to do and how are you going to do it? You must be able to answer these questions to get started.

  • What type of products or services will you offer?
  • Where will the business be located?
  • Who will work in the business?
  • What will their positions be?
  • Will the business be for-profit or non-profit?
  • How will you finance the business, especially the start up?
  • When do you expect the business to start carrying itself?
  • What business form will you choose-Sole proprietorship? Partnership? Corporation?
  • Can you put a business team in place-attorney, banker, accountant?

  • If you don’t have the answers to these questions, it just means you need to start doing some research.

    Your job is cut out for you. Get going!!