Here are several things to consider before starting your business
1) Costs – Know it all. Research and ask questions. Find out not just about the normal operating costs, but what else might be required. Write it all down and plan accordingly. Have money for several months or plan to work part-time. Too many fail because they don’t have the money to succeed.
2) Marketing – Most businesses don’t work without marketing effectively. Be sure you know how you will market this business and also that you have the expertise to do it. If not, get reading or be prepared to hire someone. Be prepared before you start and have that plan ready to go.
3) Needs to be passionate about what they are doing. That’s the only way to keep going and face those odds, exhaustion and temptation to throw in the towel. You aren’t going to love what you do every day, but on the whole you have to believe in it and want to continue doing it.
4) Business Basics – Know what is required for your business and geographic area. Licenses, business types, etc. Also consider the daily operational procedures. Will your business require you to run it or can it operate some on its own? Why this is so important is because you then can use effective time management practices to succeed.
Love to hear your thoughts to consider before starting your business.