You’ve finally decided now is the time to move forward with your great idea. You’ve had it with your job, you wanna change the world but have no idea were to start. Welcome to being an Entrepreneur, Now Here’s what to do…
First off you have to figure out what kinda of business you wanna start. You can’t be doing something you hate, I mean come on that’s why your’e here in the first place. Here’s are ten things to consider before going into your business.
- Are you passionate about it?
- Can you motivate yourself through thick and thin to persist with this idea no matter what?
- Do you know the business, if not can you change it?
- Can you build a prototype?
- Is there room for new blood?
- Would you buy it?
- Who’s your competition and why is your product superior?
- How are you gonna fund this endeavor and have you factored in all possible costs?
- Who’s your target market?
- Are you a Visionary?
Are you passionate about it?
This is the first and most important question to be asking yourself, can you say to yourself that the business you wanna start is the business you wanna run for the rest of your life? Real Entrepreneurs are hard working, self-motivated people who love what they do, if you don’t feel truly passionate your’e wasting your time and would be better off finding a different career path. Starting and Running your own business is difficult, for it too get off the ground you will have too work tirelessly. The rate of failure for Start-Ups is high as is outlined in this article from Small Biz Trends. I try to follow a simple general rule for living life – “Do What You Love, No Matter What”
Can you motivate yourself through thick and thin to persist with this idea/business no matter what?
Look forward to Lesson 2 Coming Soon!