So you're thinking about creating a business of your own. A business which you enjoy doing and where you can be your own boss. There is a lot to think about and many preperations to make:
*type of business*type of products*location*brick and mortar or online business*customer service*shipping/Receiving*feasibility studies*number of employees*customer base*capital (How much will be required and where is it coming from?*advertising*etc., etc.
I went through the same thing. Everyone does when they decide they are tired of exchanging a period of time for a paycheck. It's called being an entreprenuer. Taking a chance it will all come together and you will become successful.
There are a lot of statistics around which suggest between 70% to 80% of new businesses will fail in their first five years. A lot does depend on the industry and other varying factors, but the indication is that the odds are against you.
Capital funding seems to be the biggest headache for most small businesses. Especially for getting through slow periods.
There is a way to find the capital you need without having to use banks and other lending sources. Raise the funds yourself! No loans to repay. Ever!
Have I got your attention yet?
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Monday, October 8, 2007
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