Running a successful small business involves more than just working for yourself.
Before you leap in you need to consider three important aspects:
- Will the business satisfy your needs?
- Do you have enough skills to run the business?
- Do you have a sound business proposition?
Experience suggests you are more likely to succeed if there is a good match between your business venture and your skills, interests and motivations.
Some tips on starting a business:
- Learn as much as you can about your proposed business. Use networks like business associations and ask questions.
- Be realistic about the effort, time and money it will take.
- Keep accurate financial and customer records from the start.
- Find a good accountant, lawyer, banker and insurance agent.