Welcome! About Us About Our Job Boards Info For Employers Diversity Job Candidates Improve Your Bottom Line Advantages of Niche Job Boards Benefits of Using Our MultiChannel Approach for Your Job Exposure OFCCP / Compliance Solutions Sponsorship Contact Job Search AW Career Center – Diversity Jobs All Top Tech Talent – Tech Jobs Careers Self Describing Skills – Key Strengths Effective Communications Key To Accomplishing Goals The Six C’s Of Effective Communication Exude Power & Purpose – Broadcast Your Value Career _Index Referrals Make A Difference In Getting The RIght Job Getting Fit To Lead – Habits Of Successful Leaders Career Strategies Which Career Is Right For Me? Pick A Career That Counts America’s Skills Gap Top Secrets To Make Recruiters Find You Meet The Robots Reading Your Resume Time Management Mastering The Art Of the Career Fair Career Fairs – On-site Career News Blog How To Become A Computer Programmer Closing The Gender Gap For Women In Science Time Management Entrepreneurship Entrepreneur – Start Your Own Web Business Why Start Your Own Business? Rorschach Test For Entrepreneurs – If You See Opportunity, Start A Company The History of Opportunity Money Info Establish Your Niche – Learn How To Differentiate Brand “You” Outrageously Simple Visual Guide To Goal Setting Workplace AWL Journal – Women in Leadership Studies Sponsorship Contact

Is Running a Business for You?

Not everyone is cut out to run a business. Not everyone is cut out to be an entrepreneur. It takes a special talent. Some owners of small businesses have it and some don't.

Before you invest time, energy and money, it's important to do some serious self-analysis. In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business - but you can improve your chances of success with good planning, preparation, and insight.

Start by evaluating your strengths and weaknesses as a potential owner and manager of a small business. Before you go into any type of business carefully consider the following questions:

Are you a self-starter? It will be entirely up to you to develop projects, organise your time, and follow through on details.

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 or consultants. Can you deal with a demanding client, an unreliable vendor if your business interests demand it?

How good are you at making decisions? Small business owners are required to make decisions constantly - often quickly, independently, and under pressure.

Do you have the physical and emotional stamina to run a business? Business ownership can be exciting, but it's also a lot of work. Can you face six or seven 12-hour work days every week?

How well do you plan and organise? Research indicates that poor planning is responsible for most business failures. Good organisation of financials, inventory, schedules, and production can help you avoid many pitfalls.

Is your drive strong enough? Running a business can wear you down emotionally. Some business owners burn out quickly from having to carry all the responsibility for the success of their business on their own shoulders. Strong motivation will help you survive slowdowns and periods of burnout.

How will the business affect your family? The first few years of business start-up can be hard on family life. It's important for family members to know what to expect and for you to be able to trust that they will support you during this time. There also may be financial difficulties until the business 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 in the short-term.

Studies have shown that entrepreneurs are persevering and not easily defeated. They thrive in a challenging environment and have a tremendous need to be in control. They turn diversity into opportunity. They are risk takers. They welcome responsibility, and they are willing and able to make decisions.

Moreover, successful entrepreneurs are patient and able to wait out the sometimes slow beginnings of a business. They also are able to learn from their mistakes, trust their own judgment and have an optimistic outlook.

It's obvious: you have to love your work. And if you choose a business that blends with your personality, those extra hours you will have to work won't seem so bad. The key is to identify what you enjoy doing the most and then find a business opportunity that makes use of your skills and interests.

You may freely reprint this article provided the author's biography remains intact:

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

RELATED ARTICLES Documenting Partnerships in Your Business Plan Forging partnerships to improve market penetration has become commonplace, particularly for "new economy" businesses. And, most companies proudly mention their many partnerships in their business plans. 10 Ways Entrepreneurs Shoot Themselves In The Foot Entrepreneurs and their businesses have a tendency to ambush themselves when they aren't looking. This affects how much revenue they can generate, how fast their business rises, and even if they survive after the first few years. If you feel there is a possibility you are getting in your way to success, review these elements to see if any of these items might apply. The Use of Common Stock in Venture Capital Transactions When raising capital for a business venture, a company can either raise debt capital, equity capital or a combination of the two. Debt capital is money loaned to the company at an agreed interest rate for a fixed time period. Conversely, equity capital is money invested by owners (shareholders) for use in business operations that need not be repaid. Combinations include convertible securities which may be debt that can be converted into equity at some point in the future. Adding a Service After You Buy a Business When you buy a business, you should have a plan. Why have you chosen that particular business? Why that particular time to buy a business? What can you bring to the business? Some of the most successful business stories are of people who buy a business with the intention of bringing their specialized set of skills to it, and using them to grow the business. Franchise Business and Franchise Businesses Franchise business is being part of a successfully proven business that has a name or trademark that is well known and profitable. Franchise businesses are strategically tried and marketable with options to expand by offering products and services that appeal to the consumer. Having to make the decision on which franchise business to buy can be challenging. Franchise business consultants can offer assistance to evaluate current franchise opportunities with valued insight. A franchise business consultant may also be able to offer assistance to the business owner who wants to make a current business franchisable. Key to Starting Your Own Clothing Company Starting your own private label clothing company is not as difficult as you may think. I assure you that the founding members of Volcom, Paul Frank, Hurley and Von Dutch, are not mad geniuses of fashion. You can duplicate their rise to brand stardom provided that you have the following: Bring That Difference To Your Business! Romans had a phrase for this- First among Equals. Leadership Attributes for Business Success Business success is essentially the result of successful leadership. Contrary to the popular myth, leaders are not just born. Leadership skills can be learnt and developed. A business is a distinct reflection of the leader, who may be the owner or manager. A business is never successful despite the leader, it is always successful or otherwise because of the leader. Its Good to Know Your Banker Recently my bank opened a new branch that is a few miles away from my house. I used to visit the local branch that was located in the grocery store and enjoyed seeing the ladies on a weekly basis who were the tellers. Great Tips Of Choosing An Office You have decided to strike it out on your own and set up a business consultancy. Chances are you want to look at getting your own office premises. Besides ensuring that your rental payment does not create serious cash-flow problems in the medium term, you have to look out for these other factors: Curb Your Enthusiasm Isn't enthusiasm a good thing? Aren't we urged to be enthusiastic about what we do? To be committed? Solving the Million Dollar Mystery: 4 Steps To Create A Turn-Key Business You're a smart, hardworking entrepreneur, and you're moving fast. You are highly educated in your field and your business is growing and getting busier each day. But somehow, you find yourself stuck. You're doing more tasks that take you away from your core business, you are working more and earning less. You need help. Wouldn't it be great if there was someone, anyone out there who could help you take away some of the daily tasks so you could focus on the things you really love? The Magic of Float If you've ever received a service today and paid for it in 30 days you've experienced the concept of "float" ? the time difference between when you receive a service and when you paid for it. In most cases this time period is a convenience to you as a customer, but in the world of business marketing it can absolutely transform your business. In the last 18 months we've grown our marketing budget at Swapalease.com (the company that owns me) by more than 1000% by simply leveraging the concept of float. Does It Really Take Money To Make Money (Online or Offline)? A Reality-Check of 2 Case Studies The short and simple answer to this question is NO! The 5 Senses of an Entrepreneur If you have seen me speak you will know that I believe the word 'entrepreneur' is used way too much these days. People seem to wear it as a badge instead of just getting out there and doing entrepreneurial things. Just because you run or own a successful business doesn't necessarily mean that you an entrepreneur. The Perfect Little Coffee Shop: Are You Afraid of Failure? Are You Letting that Failure Cripple You Ah, coffee, the drink of choice when I want to share a special moment with friends, when I want to sit and ponder life or when I want a moment alone. I am an avid coffee drinker. I love coffee and I love the atmosphere of a good coffee house, a café. Creativity & Entrepreneurship - Key Questions From My Students Hello Creative Entrepreneurs! Getting Rich Isnt a Bad Idea You've seen plenty of articles claiming to offer you the secret to getting rich. Some ideas, however, are thin veneers covering some scheme that often involves multi-level marketing or a service with questionable intents. If It Was Easy Everybody Would Do It Q: I started my business about a year ago and everything is going fine. We're growing and making a profit, but the stress of running the business is really starting to get to me. I spend more time worrying than working. Sometimes the pressure is almost more than I can take. I'm starting to think that I'm not cut out to run my own business. Do you have any advice that might help me decide what to do? -- Steven S. Independent Auto Detail Shop VS Biz Op or Franchise Owning a detail shop can be an exciting and rewarding business indeed. Many times an owner of an independent Detailing Shop will wish to add those items he/she believes their customers want. Since an independent detail shop is not a franchise or affiliate they can try new things and do what ever they want. They use their knowledge of the industry, a little intuition and luck; it is a best guess issue. For an independent detailing shop entrepreneur; there is no proven business plan to go by, but the savvy operator who is in touch with their customers seldom has to face a shot in the dark.

Home |Site Map

Copyright © Advancing Women (TM), 1996- AdvancingWomen.com