Personal resources and goals

Before seriously getting on with the idea of starting your own business you
must consider your motives for starting on your own. You also need to
consider whether you possess the personal/financial/professional skills
qualifying you for a business start-up. By doing this you could become
more sure of yourself and your new future.

Below are some useful points of consideration for your self-evaluation:

Why do you want to start-up your own business?
There can be various reasons why people want to start business. The inner
urge to pit oneself against one's own abilities as an entrepreneur. The wish
to make a lot of money to a between-jobs-situation with no prospect of
decent employment. Also take over of a family business or the family
wishing to have a businessman in the family can be a reason.

Family network
The closest ones to assist one in starting a business is the family. Hopefully
they share the same dream of you managing a business as you do.
Grandfather, parents, brothers and sisters, cousins and others may have a
lot of contacts that can support you in making the business flourish.

Unfortunately the same family members can also be a liability to your new
business. If they feel they have the right to make business decisions for
you, your business life could then get difficult. Maybe you have to move?
Decisions made in a 'family context' seldom go together with business
decisions. Business decisions normally have to be taken from facts and
your own intuition. Family decisions are often based on feelings and are
irrational.

Evaluate where your business is at the moment. What can you decide and
what will the family decide?

Experience
It almost goes without saying that you should not start business within a
trade or area of experience that you are unfamiliar with. If you have to start
out gaining basic knowledge about your service or product along with
getting the grip of running a business it will soon become an almost
impossible task.
Though, some line of trade are fairly easy to learn. Starting a cleaning
company or selling pizzas can be done with little knowledge about the
trade.


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