I Am Thinking of Starting a Business What Should I Do First?

Helping Businesses Thrive and Grow

I Am Thinking of Starting a Business What Should I Do First?

Checklist Yes or No

Before you quit your job or print business cards, it is wise to take stock of personal considerations. Ask yourself:

  • Do I have what it takes to be an entrepreneur?
  • Am I a risk-taker?
  • Do I have a grasp of basic financial and marketing principles?
  • Am I resourceful and organized?
  • Can I support myself and/or family financially when cash is short?
  • Will my family and friends be supportive during the start-up process?
  • Am I knowledgeable and experienced enough in my chosen field?

If the answer to any of these questions is “no,” you may want to focus on some form of self-improvement before proceeding. If most of your answers are ‘yes,’ then it is time to become a realist! Get as much information as you can on the feasibility of your idea and on the real experience of starting and managing any business. You can do this by:

  • accessing business publications and data from your local library
  • taking seminars and workshops
  • speaking with/reading the Web sites of trade or professional
  • consulting with those already in the same or similar line of business