Before you quit your job or print business cards, it is wise to take stock of personal considerations. Ask yourself:
- Do I have what it takes to be an entrepreneur?
- Am I a risk-taker?
- Do I have a grasp of basic financial and marketing principles?
- Am I resourceful and organized?
- Can I support myself and/or my family financially during the early stages of the venture when cash may be short?
- Am I willing to work 18 hours a day 7 days a week if that is what it takes?
- Will my family and friends be supportive during the start-up process?
- Am I knowledgeable and experienced enough in my chosen field?
If the answer to any of these questions is “no,” you may want to focus on addressing the issues before proceeding. If most of your answers are ‘yes,’ then it is time to lay the groundwork. Get as much information as you can on the feasibility of your idea and on the real experience of starting and managing any business. You can do this by:
- accessing business publications and data from your local library
- taking seminars and workshops
- speaking with or reading the websites of trade or professional groups that represent your chosen industry
- consulting with people who are already in the same or similar line of business (avoid those who may perceive you as a potential competitor)
- seeking advice from professional counselors like those at the Idaho SBDC or your local SCORE office
Also, take the time to read through the information on the business.idaho.gov website, then contact your nearest SCORE Chapter or Idaho SBDC office to arrange for a free consulting session.