It’s the start of the new year, and most of the nattering nabobs of negativity in the media think it’s the wrong time to start a business, but we think it really is, as long as you observe some prudent guidelines:
1. Download our free Entrepreneurial Questionnaire on our website, www.theasoe.com. If you complete it honestly, it should tell you if you’re tempermentally suited to opening a business, or maybe you should consider a less risky form of venturing, such as buying or starting a franchise.
2. If you’ve determined to go ahead, and have an idea for a business, take our course A02, Viability of a New Business venture. Most businesses fail because the owner hasn’t done enough research on whether the business would be viable. Your odds of success go up about 80% having taken this course. You don’t have to worry if your business might not be a homerun and get you lots of publicity. The majority of businesses and their owners have much more humble goals, like replacing the paycheck they just gave up. The essence of the viability course is do something that’s unique, that others aren’t doing, even if it’s locationally unique, as a franchise might be.
3. You get some cash flow estimating techniques in A02, but if you’re going to need more than you can raise from family and friends, download our minibusiness plan from our site, and go through all the steps. You can’t depend on banks to lend to you, unless you’re willing to put up some collateral, such as your house, so you’ll have to look to venture capital. Our course on Funding a New Business is worth the investment. You might take A05 on Cash Flow Management, too, to put a fine point on your projections.
4. As part of your business plan, take Course A12 on Implementing a new business venture, to ensure that you’ve covered all the steps and costs of setting up a new business. We always read stores about owners getting stuck in the permitting process of major cities.
5. If you’ve gotten past step 4, and everything is still a go, then you have to take a deep breath and decide to pull the trigger. At this point, if you’ve done all the steps and courses honestly and unemotionally, (which is a problem), it’s still hard. You might decide to keep your present job until the ew venture is up and going. Your sleep will suffer, but it’s the most prudent way to go if you can do it.
So, for the investment of about $120 with us, you’ve got a viable business. What are you waiting for?