How To Know If You Should Start A Business

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How do you know if you should start your own business? Here are 5 concrete steps you can take to find out if owning your own business is right for you.

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How To Know If You Should Start A Business

  1. 1. How To Know If you Should Start a Business by FitsmallBusiness.com
  2. 2. Step 1
  3. 3. Why do you want your own business?
  4. 4. Examples of Bad Reasons...
  5. 5. You hate your boss.
  6. 6. You aren’t being paid enough.
  7. 7. You lack passion for your job.
  8. 8. You want to work less.
  9. 9. These are not reasons you want to start a business. . These are not reasons you want to start a business. .
  10. 10. These are not reasons you want to start a business. . These are reasons you are unhappy with your current situation.
  11. 11. Examples of Good Reasons...
  12. 12. You have identified a problem that people will pay you to solve.
  13. 13. You want to be a leader.
  14. 14. You want the challenge.
  15. 15. You think your clients will follow you..
  16. 16. Step 2
  17. 17. Do you have the skills?
  18. 18. Do you want to run a restaurant? (Example)
  19. 19. Or do you just love to cook?
  20. 20. Skills every business needs..
  21. 21. 1. The ability to market and sell.
  22. 22. 2. The ability to deliver quality products/services.
  23. 23. 3. Ability to handle the finances.
  24. 24. 4. Ability to manage.
  25. 25. Don’t have some of those skills?
  26. 26. Get a Partner (Click here for our free guide on choosing a business partner. )
  27. 27. Step 3
  28. 28. Do you have the right mindset?
  29. 29. Have to be willing to get your hands dirty.
  30. 30. Have to be willing to work a lot of hours.
  31. 31. Step 4
  32. 32. Do you have the means?
  33. 33. One thing all new businesses have in common...
  34. 34. They take longer to become profitable than originally forecast.
  35. 35. For most businesses...
  36. 36. Plan for no salary in year one.
  37. 37. Small salary in year two.
  38. 38. Back to what you were making in your old job in year three.
  39. 39. Yes you heard right.
  40. 40. It takes 3 years on average.
  41. 41. Step 5
  42. 42. Do you have the personal support?
  43. 43. If your significant other isn’t on board...
  44. 44. Its going to suck.
  45. 45. Make sure they understand...
  46. 46. 1. There is a high failure rate.
  47. 47. 2. The hours are long.
  48. 48. 3. The there are a lot of ups and downs.
  49. 49. 4. Any personal spending cutbacks that need to be made.
  50. 50. Still with me?
  51. 51. Great!
  52. 52. Now its time to come up with a business idea...
  53. 53. Click Here to learn how.
  54. 54. Click Here to learn how.

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