When You're the Boss

Whether it’s your dream to run a bakery, sell handicrafts, or fix leaky faucets, there are a few steps you should take before starting your own business.

Starting and managing a small business takes a good idea, hard work, and a little luck. You may want to ask yourself some important questions before getting started: Am I self-motivated? What technical skills do I have? Do I get along well with a variety of people? How good am I at making decisions? Do I have the physical and emotional strength to run a small business? How well do I plan and organize?

It’s also important to find the right professional match. We all have unique interests, backgrounds, and skills. The most successful business people match these qualities to the work they choose. Take stock of your own best qualities and then think about these questions: What do you want to sell? Where will your business be located? How much money will you need to start? What tools or materials do you have to work with? Other small business owners are a great source of information, and you can learn from their mistakes as well as their successes.

Once you’ve decided what to sell, it’s time to create a plan that will help you succeed. A business plan is like a budget. It’s a way to write down your specific goals, needs, and plans for a new business. A solid plan will help you see what it will take to run your business on a day-to-day basis.

So, dream big … but help make your dream a reality by planning. For help, go to the Small Business Administration web site at www.sba.gov, or search your public library for books and magazines on running a small business. Good luck!