City : Enterprise Road : About Starting a Business

Enterprise Road

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Making the leap from employee to entrepreneur means changing not only your lifestyle, but also your mindset. Before spending time, money and energy starting a new business, you should ask yourself: Do I have what it takes to own a business or, am I better suited to being an employee?

Here are some things you need to think about before you get started:

  • Have you thought about these questions?

    • What’s your great idea for starting a business?
    • What’s different or special about it?
    • How will you make your business stand out?
    • Who will your customers be? How will you find them?
    • What makes you passionate about the business you want to run?
    • Have you researched what similar businesses are already out there?
    • Have you discussed your idea with anyone who might have a useful view on it?
    • What was their response and what did you learn from it?
    • Will you be happy working long hours, often on your own?
    • Are you good at motivating others?
    • What will you have to spend to set it up?
    • How quickly will you be able to get it going?
    • How long will it take to start making a profit?
    • How will you finance your business until you start making a profit? And more importantly how will you cover your living expenses?
    • Once you start to make a profit, how will you reinvest it to make the business grow?
    • Having thought all this through are you still excited about it?

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