People are often so anxious to try out their idea for starting a business that they don’t think about what it really will take to fulfill their dream. Before you make the leap, sit down and do a self-assessment. Make a list of the things you love to do. It doesn’t matter what they are – just put them in the list.
Make a list of your skills and capabilities, things you can do, and things you know how to do well. Make a list of the things you have done.
Make a list of your personality traits. Take a test if you need help. They are easy to find online.
Consider all of these things before you make the leap:

  • What do you want to achieve?
  • How much money do you want to make?
  • Where to you want to work? Anywhere, at home in your pajamas? In your own office or store? On Main street or the beach?
  • How much and long do you want to work? Do you see yourself putting in 2 hour days or working 80 hour weeks?

Are you really ready to give up the steady income and security of your job and risk the time and money that will go into starting a business? If not, then don’t go full-time yet. Find an extra hour or two a day. Do some moonlighting and see how that goes.

Think about your personality. Consider these questions:

  • Do you want to be famous, in demand? A local move & shaker or an Internet celebrity?
  • Are you a people person? Do you look forward to interacting with customers? Do you need to be around people to get your creative juices going?
  • Do you like working alone?
  • Can you handle distractions if you work at home or do you need your own space?
  • Do you have a 9-5 work mentality and like to leave things at the office?
  • Do you have confidence in yourself and what you are doing to stand up to competition and get through hard times?
  • Are you flexible enough to change your plan if things go wrong or new opportunities arise?

Think hard about the answers to these questions so that you chose a business path that is right for you.

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You can always contact me at MicroBizMadeSimple.

Early Cash Flow – The Secret to Business Success

Thumbnail image for Early Cash Flow – The Secret to Business Success February 11, 2010

Lots of new businesses fail because the owners don’t take into account how long it takes to start bringing in any money at all, let alone enough dough to keep themselves and their business going. Why does this happen?
The Problem – Too Much Time
New and even experienced business owners often don’t realize that there [...]

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Simple Sales Forecasting – A Useful Tool

Thumbnail image for Simple Sales Forecasting – A Useful Tool February 4, 2010

Want to know how your business is doing? Look at your sales. But for them to make any sense you need to have something to compare them to so you can measure how you are doing. That is where a sales forecast comes in.
Making a sales forecast isn’t hard, especially when you understand you don’t [...]

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Problems with Small Business Credit Cards

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Aleksandra Todorova has an interesting article at Entrepreneur.com talking about an unforeseen risk you face when you have a small business credit card.
You’ve probably seen the offers for small business credit cards. They often have attractive rates and terms, and have been a useful way for cash-strapped small businesses to  manage cash flow. But now [...]

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Succeed by Knowing Where to Focus

Thumbnail image for Succeed by Knowing Where to Focus January 28, 2010

Common sense says you can grow our business by looking for new markets and ideas. If you are struggling, then naturally you should look at the things that are going wrong or broken and fix them. Obvious, right?
Not so fast
Not necessarily so. Let’s look at the situation from the other side. What if instead of [...]

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Solving Small Business Problems the Kaizen Way

January 18, 2010
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Running a business means you constantly run into all kinds of problems, both big and small, serious and time consuming, annoying and costly. The question is how do you tackle them? How do you know which ones to fix, ignore or band-aid over?
Kaizens Can Help
I learned about the power of the kaizen (rhymes with dry [...]

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Home Businesses Grow Up

January 11, 2010
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It used to be that having a home business meant that you sold something out of your garage or at flea markets, or maybe you had an office in your den where you sold insurance or did taxes. Times have changed, though. The SBA says there are now over 15 million home businesses in the [...]

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Enjoy Your Business

January 8, 2010
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Most of the articles and blogs I read deal with problems and troubles people have with starting and running their businesses. Or there are articles about how to improve yourself and how you work. Find ways to work harder, be bigger, grow faster. Change this, do that. Seems like the whole Internet is build around [...]

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What’s The Mission of a Mission Statement?

Thumbnail image for What’s The Mission of a Mission Statement? December 14, 2009

A mission statement is a handy thing to have for any type of small, home or micro business. Its job simply is to state what you are trying to do with your business. It looks at the here and now. It doesn’t get all dreamy eyed about hopes and aspirations, like a vision statement can. [...]

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Do You Really Need a Vision for Your Small Business?

December 12, 2009
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Business start-up coaches and experts tell us a small business needs to have a vision statement else it will be lost, without direction. With a vision statement a business owner has the a map for success which can inspire, energize and paint a bold picture of where to take the business in the future. Business [...]

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An Easy Way for Small Businesses to Beat the Big Guys

December 10, 2009
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I spent extra time this week trying to shop at some local small businesses with mixed amounts of success. The frustrating experiences I had remind me of a way that small businesses can compete against and beat the big boys, and make me wonder why so many small businesses fail to use it to their advantage.
Are you [...]

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Online Business Help – 9 Rules to Avoid Getting Hurt

December 8, 2009
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When you start an online business, one thing you are going to end up doing is looking around the web to get ideas, help and advice from other online sources. It doesn’t matter what you are selling, from blogging about eating healthy and selling goods out of your store to offering coaching, you are going [...]

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The No-Page Business Plan

December 7, 2009
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We’ve all heard of the One-Page business plan but how about the No-Page business plan? Have you heard of it? Probably not because as far as I know there is no such thing. Until now.
What is the No-Page biz plan?
That’s simple. It is nothing, no plan. Forget about doing one. Period!
Instead, focus on how you [...]

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Free Online Recordkeeping For Home Business And Freelancers

December 6, 2009
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Recordkeeping is always a pain, especially when you have lots of transactions such as with an eBay account. I’ve been using a free online system that makes this whole process easier for freelancers, home businesses, or anybody who is self-employed.  It lets you easily handle your bookkeeping tasks so you can spend more time on making [...]

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Microbusiness Marketing: Are you losing business because your price is too low?

December 1, 2009
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In tough economic times people are looking for the lowest cost when they buy, so common sense says the best way to compete and get market share is to give people what they want–lower prices. The lower you go the more you will sell. But is that the best thing for your small or [...]

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Do You Really Need to Brand Your Home Business?

November 30, 2009
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Have you created your home business brand? How about your personal brand? Do you have a microbusiness branding strategy? Do you even know how to do that? If you’ve answered “no”, marketing experts say you need to get busy to create one or your business is doomed. Pretty scary stuff.
What is a brand anyway?
All the [...]

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Money Back Guarantees – Good or Bad?

November 29, 2009
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Money back guarantees are a sure way for a small business to boost sales. They show you stand behind your product or service. Customers feel less risk in making a purchase and so will pull the trigger. What’s not to love?
Unconditional guarantee
If you sell a product, the best thing you can do is to offer [...]

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How to Boost Sales By Knowing What Customers Really Want

November 27, 2009
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You think you know what people buy from you, right? It’s obvious. They buy whatever product or service you are selling. If it is a book, they are just buying paper or bits and bytes for an e-book. If you sell a service like designing a logo, then people are buying the logo you make [...]

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How To Tell You Are in the Wrong Niche

November 26, 2009
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I was talking to a guy today about marketing. He sells fitness programs and has been targeting people who go to gyms. I told him he was going after the wrong niche. People who go to gyms have a workout routine and they are most likely already fit. I suggested to him that a better [...]

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9 Ways To Be A Better Entrepreneur

November 25, 2009
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One common trait of successful entrepreneurs is that they are always seeking out new business ideas and sources of information and inspiration. They are constantly learning and trying to improve, and so should you.
Don’t think you are too old, too busy or too smart to learn some new tricks. That’s crazy. Take some time to look [...]

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Are You Spending Enough Time to Market Your Business?

November 24, 2009
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Marketing is the key to getting a new business off the ground. Most people don’t realize they will have to spend half of their time or more(!!) on marketing. Especially for a new business.
You have to get your message out there to your target market to let them know that you’re in business and that [...]

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Do You Know This Secret For Keeping Customers Loyal?

November 22, 2009
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If you want to build long term successful relationships with customers and clients, consider giving them more than they purchase from you. Think about it. Everybody likes getting a little something for nothing. This is one great way any microbusiness can compete against larger companies and it also lets you get a leg up on [...]

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8 Tips for Keeping Customers Happy on Your Site

November 20, 2009
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Have you taken a look at your website to see if the design and navigation could be driving customers away? Bad navigation just cost one website a customer –me. Is it costing you, too?
Don’t frustrate your customers
I found a website that offered a way to share documents online. It looked good and I was interested [...]

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How to Safely Manage Your Money – 8 Things You Can Do Now

November 17, 2009
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Money plays a huge role in the success or failure of your business. Making money is why you started a business to begin with, right? Not too surprising then that good money management skills are a must. Without them even profitable businesses can get into trouble.
Why money management matters
The truth is, no matter how much [...]

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Do You Want a Job or a Business?

November 16, 2009
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Starting a small business is a job
This is probably not something you want to think about when planning how to start your small business since one of the most common motivations for starting a small business in the first place is to get away from having a job.
But, it’s a fact we have to accept. [...]

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Why Your Business Plan Failing Can Be A Good Thing

November 12, 2009
Thumbnail image for Why Your Business Plan Failing Can Be A Good Thing

Did you know having your business plan fail can be the best thing that can happen to you? Sounds crazy right? But it’s true, and here is why.
Why Plans Fail
Business plans, marketing plans, heck any kind of plan is going to fail. Some just a little and others spectacularly. It’s not for lack of work or [...]

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You Need a Great USP to Attract Customers– How’s Yours Doing?

November 10, 2009
Thumbnail image for You Need a Great USP to Attract Customers– How’s Yours Doing?

No matter how good you, your website or whatever you’re selling is, nobody is going to buy anything from you without a good reason. They will keep their hands in their pockets unless you can convince them you and you alone have something they desparately need. That is what your USP does. It gets people to [...]

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Stay Focused for Success

November 9, 2009
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If you don’t pay attention when driving, you can end up in the hospital or worse. All it takes is a moment to answer your phone or play with the radio and BAM!!! you’ve hit a cow. Why should it be any different running your business or your life?
What’s Your Brain Doing Right Now?
It’s probably [...]

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Do You Know the Beast’s Five Secrets for Success?

November 4, 2009
Thumbnail image for Do You Know the Beast’s Five Secrets for Success?

I went  to hear composer Philip Glass speak collaboration and creativity expecting to learn about how he composes music for film. Instead I learned about some some important secrets for success in business. Here’s what is even wackier, the lessons come from the French surrealist Jean Cocteau’s  movie La Belle et le Bete , better as the Disney version Beauty [...]

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Closing a Small Business

October 30, 2009
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One of the hardest things you have to do as a business owner, no matter if it is a microbusiness, a freelance or home business or a larger enterprise, is to close up shop and end the business. You’ve put in untold time and work with equal parts blood, sweat and tears to start and [...]

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