Fail to plan and you plan to fail.
Starting a new business and running it properly takes a lot of time and commitment. The rewards can be anticipated but you have to know why you want to do it and what exactly you are getting involved in.
You must identify your personal strengths and your weaknesses and where you need to get advice.
Consider the following questions:
Have you committed a plan to paper?
Although the economy is recovering profitable trading still remains challenging, what are the prospects of my venture succeeding?
Before you give up that job have you considered how much you will earn during your first year?
Do you know what you need to as net income?
Do you need help raising finance for your business?
What are your start-up costs?
How will the business be funded - Personal savings? - Any external funding?
Any grants or Government funding available?
Will technology benefit your business?
Do you need to build a website?
The following are some of the qualities needed to be successful:
- A real desire to succeed: by not having an employee 9 to 5 mentality. You want to go that extra mile to succeed and will do whatever it takes.
- Positive mental attitude: both towards yourself and your business. You see opportunities where others see obstacles, the cup is always half full and disappointments don't get to you. You look forwards, not backwards.
- A genuine commitment to hard work: You are not afraid of hard work and the commitment needed to succeed.
- Patience: Rome wasn't built in a day. You need patience to see things through, taking it step by step.
- Persistence: A successful entrepreneur will persist and not give up or change direction simply because a challenge or problem is encountered. If you find your task is hard try, try and try again.