Starting a Business
Should I Be Working For Myself?
Going into business is believed to require unique personality traits. There are many physical, emotional and financial strains that an entrepreneur has to face on a daily basis. Do you have the drive and passion to achieve what it takes to make your business successful?
Do You Have?
A strong need to achieve
Good physical health
A willingness to take risks
High level of energy
Ability to get along with employees
A desire to create
WAYS OF GETTING STARTED
Start New – starting from scratch gives you the freedom to run your business your way. It takes a considerable amount of planning, and you may find it more difficult to obtain financing.
Buy Existing – buying a business that is already in place allows you to acquire an already established product/service. The suppliers are in place and so is the customer base but it is important to find out the real reason the
business is being sold.
Buy Ceased – you can buy the assets of a business that is no longer running. This will mean you will have to
re-establish a customer base. It is important to find out the real reason the business failed.
Franchise- you sign an
agreement between yourself and a franchisor giving you the right to sell and market products under their name. You are buying a proven concept, and a recognized brand. Fees can be high and you may have less control over business decisions.