Are you ready to start your own business?

Many people wonder deep down if they could really make a go of running their own business. It is not for everyone but the following is a list of attributes that successful business owners have. You do not need all of these characteristics but ‘go–getters’ have the majority of the qualities.

Are you:

• Positive – decisive and enthusiastic to succeed?
• Proactive – do you go out to get things or do you let them come to you?
• Determined – have you clearly–defined personal and business goals?
• Hardworking – do you mind being tied to the business seven days a week?
• Leadership – are you able to get the best from your colleagues and discipline them when necessary?
• Opportunist – will you see openings in your market and develop products for it?
• Self–critical – are you able to review your own performance and welcome advice from others?
• Flexible – could you change your products or methods quickly when necessary?

Whatever the reason for wanting to run your own business, a number of dangers exist. Probably the greatest concern is the possibility of business failure

In order to make your business a success there are a number of key factors which should be considered:

• Commitment - starting a business is demanding. Determination and enthusiasm are essential
• Skills - you will need managerial, financial, technical and marketing skills. If you do not have these skills personally, they can be found in a partner or employee, or acquired through training
• Your product or service should have a proven or tested market, but must not conflict with the patent or rights of an existing business

In addition to these general considerations there are a number of more specific matters which are discussed in more detail on our main website.