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Creation Of New Business

A question I am often asked by my friends and associates generally concerns whether they or a friend should consider striking out on their own in business.

I do not believe that there is one person, who can honestly say that they have not thought about what it would be like to be in business for themselves. Many people dream about being masters of their own destinies and captains of their own ship. However, far fewer of us take this Sunday afternoon wishful thinking beyond just that; wishful thinking. This is probably a good thing given the high failure rate of start-up businesses. Not everyone was meant to be President of the United States or president of their own company. Is there a way to test yourself to see, if you have what it takes to be an entrepreneur before you totally commit to a specific venture? How do you know that you have what it takes? Just as important as your personal qualifications, do you have the right form of organization, operations, product or service that will work and the financial capital to get you there? Finally, is this the right time, location and economy to launch your new enterprise?

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