Before you take the step of starting up your own business, you need to carefully assess whether or not you are suitable to run your own business.
You need to consider important questions including:
Will the business satisfy your needs?
Why are you thinking of going into business?
Have you discussed it with your family?
Do you have the necessary skills and experience?
What experience do you have?
What training and education have you completed?
Do you have a sound business proposition?
Have you prepared a business plan?
What obstacles and challenges do you anticipate?
Have you identified a target market?
What will make your business stand out from the competition?
Can you acquire the licences and permits required to run your business?
Will you have the finances and resources to start and run your business?
Where will the finance come from?
How much will it cost to start up your business?
What steps do you need to take next?
Answer these questions carefully to ensure the greatest potential for success.
