How to start business

9 ways to help make sure you are ready to become an entrepreneur and build a successful business. This material is adapted from the book by Carol Roth, entitled "Equality entrepreneurs» (The Entrepreneur Equation).

1. Identify and evaluate your goals

You can not choose a path, unless you know where you want to reach. Plus, when you have a clear goal, the easier it will be to make sure that you go to it most convenient and quickest way.

Ask yourself questions about why you really want to start a business. I want to get rich quick? I would like to show your talent? Tired of what the boss tells you what to do?

These goals can lead you down the wrong path. On the other hand, if you are enthusiastic about the idea to start the company, if you like to build systems and procedures, loves customer service, and if you can balance between the various duties, the business could be your ideal way.

2. reserving some cash

Usually it is good to be on the legs out of business a few years, and you as an entrepreneur is to provide it. While business is not stable you will have enough money to manage it and not be left without means of living. If you have no money, determine which, if necessary, seek capital.

3. Get relevant experience

Before you start your own business, you have to be able to cope with employees and suppliers. You also need to be as familiar with their industry, including aspects that not everyone is interested in, such as marketing or accounting.

If you lack experience, spend some time in the same or at least similar to the company. Follow the shadow of the boss and learn as much as possible the situation. As they say, not knowing the ford, not poke your nose into the water.

4. Get a contact

Business sometimes are not limited to what you know, and besides, you know. If you do not know the right people or for a long time did not communicate with them, it's time to focus on creating the necessary contacts. For a new business are often important expert advice, financing, knowing that you can get the right people. They are the best source of marketing and customer referrals, which is crucial for the new business.

5. Know yourself

Do you prefer the "status quo" and want to avoid the unexpected? Can you live unstable and ready to financial ups and downs? Do the risk of your financial savings?

If you are a person who likes stability and control, or if you prefer, when things go as planned, the ups and downs of a new business is not for you. Be honest with yourself, before making a decision.

6. Visit the lawyer

If you're going to go into a business that competes (directly or indirectly) with the current employer or if you are planning to appeal to the same customers or contacts, it is necessary to review the documents that you have signed with your current (or previous) employer. Consult with a lawyer to avoid any unpleasant legal situations.

7. Study the competition

Before diving into the business, look to the markets of their competitors. Your niche is full of successful companies? Or is it full of unsuccessful companies, which create a bad reputation for the market?

Both good and bad competitors will affect the success of your business. You need to find a way to beat (at least somewhat) better than its competitors, and the right to show their difference from unsuccessful companies on the market.

8. Check the scalability of your idea

The most successful companies rely on automation and the delegation. Will other staff members to carry out your work? If not, will you be able to teach others what to do in an easy and understandable format?

If your business depends on your and only your skills, then you can be successful work, but not a business in which you want to delegate responsibilities to others.

9. First sell

Too many entrepreneurs spend time and money on retail stores, production or development of services without a realistic assessment of market viability. Check whether you can generate interest (in the form of orders, deposits, etc.) before you invest too much capital in their undertaking. This will avoid the fate of many young companies that eventually turn out to be a failure.