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The 8 Toughest Business Questions
By Michael Brassil
Do you ever wonder if you will really succeed with your small business? You may have a number of special traits, but how well developed are they? There are qualities of endeavor and achievement that are common to successful owners. Ask yourself these questions to see if you have what it takes.
1. How will the affect your family? The first few years of startup can be hard on family life. The strain of an unsupportive spouse may be hard to balance against the demands of starting a business. There also may be financial difficulties until the becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk.
2. How will you support your family while building up your business? This question must be worked out according to each persons’ individual circumstances. Many people start out on a part-time basis. Then when their incomes reach a certain level they will switch over to full time. Granted, if you take this "safer and surer" approach, it may take you longer to reach the goals you set for your new business, but you will save yourself (and those who depend on you financially) a lot of anxiety. Ultimately, like the turtle in the race who moved ahead slowly yet steadily, you will have a greater chance of reaching the finish line.
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3. How well do you get along with different personalities? Business owners need to develop working relationships with a variety of people including: customers; vendors, staff; bankers; and professionals such as lawyers, accountants and consultants. Can you deal with a demanding client, an unreliable vendor or cranky staff person in the best interest of your business?
4. How good are you at making decisions? Small owners are constantly required to make decisions under pressure.
5. Do you have the physical and emotional stamina to run a business? Business ownership can be challenging and exciting. But it is also a lot of work. Can you face 12hour work days for six or seven days a week?
6. How well do you plan and organize? Research indicates that many failures could have been avoided through better planning. Good organization of: financials; inventory; schedules; production; can help avoid pitfalls.
7. Do you have the drive to maintain your motivation? Running a can wear you down. Some owners feel burned out by having to carry all the responsibility on their shoulders. Strong motivation can help to survive slowdowns, as well as periods of burnout.
8. Do you have the discipline to do what has to be done? When working for someone else, it becomes routine to rise early, be well-groomed and get to the office on time. However, a significant number of people starting up a small at home all too often find themselves at 10:00 in the morning in their bathrobes, drinking a second or third cup of coffee.
Make no mistake, starting a successful small is hard work. BUT, it is also highly rewarding! Attack the challenge head-on and success will be yours.
Michael (Mike) Brassil is author of "The Only Business Start-Up Guide You Will Ever Need." Download two chapters -- Starting a New Business and The Home Working Revolution -- at:
www.ImpactGuide.com
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We hope you found this texas small business grants information to be helpful.
- Website Clarifies Business Opportunity Investment vs. Buy a Job Question
An important issue to be considered by business opportunity buyers is whether they are planning to invest in a business for future gain, or whether--if they are going to work in the company--their purchase will merely involve “buying a job.” A blog just posted at BizBen.com explores this question to help contribute to the education of prospective business buyers (PRWeb Mar 12, 2010)
Read the full story at http://www.prweb.com/releases/2010/03/prweb3720324.htm ]]>
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Read the full story at http://www.prweb.com/releases/2010/03/prweb3712274.htm ]]>
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Read the full story at http://www.prweb.com/releases/VirginaCampsite/FamilyCamping/prweb3707414.htm ]]>
According to Woodcraft, Opening a Franchise May Be An Option For Those Looking For Work
In September 2009, USA Today reported that about 8.7 percent of the unemployed that year opted to become their own bosses, either by starting their own business or opening a franchise. According to national woodworking retailer, Woodcraft, opening a franchise may be an option worth exploring for those without a job given the national unemployment rate is now hovering above 9 percent. (PRWeb Mar 11, 2010)
Read the full story at http://www.prweb.com/releases/2010/03/prweb3680804.htm ]]>
With Record-Breaking Sales in its First Four Weeks, Hurricane Grill & Wings™ in Jacksonville - Julington Creek, Florida Sets the New Brand Restaurant Model
Hurricane Grill & Wings™ launches new restaurant footprint to support demand and build bottom line. (PRWeb Mar 11, 2010)
Read the full story at http://www.prweb.com/releases/2010/03/prweb3711524.htm ]]>
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Small Business Loans for Women
By Rebecca Game
The Small Business Administration states that business loans for women are on the rise, and will continue to be needed on an increasing basis in coming years. Business loans for women are more Read more...
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3 Quick Ways To Start Your Own Online Business In Less Than 24 Hours
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The Internet and online business especially are becoming more and more popular by the day in todays world simply because people are starting to see the true benefits of the web, consumers are Read more...
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Any trade, occupation or other commercial activity engaged in or gain, profit for which a corporation can be organized under Title 7 Chapter 1.1. Source: Rhode Island General Laws
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