Okay, your creative juices are flowing, money-making ideas are tumbling through your head, your present job is the pits, your boss doesn’t understand you, you hate what you do, and you want to get out there on your own and prove to the world that you have what it takes to make a mark. You want to be in business for yourself!

On the other hand, the mortgage payment is due, the car needs new brakes, everyone you talk to says, “Well, you know, seventy five percent (or some such figure) of all new businesses fail in the first three (or thereabouts) years … are you absolutely sure you want to do this? How about the kids?”

Want a tip from an expert? JUST DO IT! Now let’s get some parameters down that will help you make a success of whatever it is you are going to do.

HOMEWORK
Whether you start from your home, move into a brick and mortar location, or decide the Internet is the place, you need to know just exactly what it is you are selling, who will buy, what they will pay, will it be a one-time encounter or repeat business, what each unit of sale will cost, how you will reach potential customers, who your competition will be and how they will react, where you can find a mentor to help you learn, what expert assistance you will require to support you and where to find that support, how much money you will need the first year and where you will get it, and is this a ‘jump in and make it work’ business or one that you can start part-time and grow into. No, that’s not all the questions you need to answer, but it’s a start. You’ll think up more on your way to success.

Most of the information you will require is easy to do or obtain, but you need to actually do it. Use several sheets of paper with a different topic listed on top (for example, Who Is My Customer), definitions on the left of a line and explanations on the right. For example, you might write: “Men 40 to 59 years old” on the left, and “To attract women” on the right if you are going to rebuild sports cars. Now complete this with costs, competitors, and everything else you can think of.

In the end, if the analysis tends towards the negative, go outside that night, look up at the stars, find your lucky one, and say, “Thank you for keeping me from bankruptcy.” Then go back inside and find another business to analyze! Don’t give up! You can do it!

BUSINESS PLAN
Do you need a business plan? Of course you do! To build a wall you need to know what goes into and how to properly mix concrete, else your wall will soon fall down! Face it, moneylenders understand Business Plans; however, most only have a vague understanding of marketing, and that’s where the problem arises. You need a Marketing Plan before you need a Business Plan so you can dump the marketing information into your Business Plan. If this sounds complicated or silly, think of diving into a swimming pool before you determine whether there’s water in the pool. You wouldn’t do that! It would be stupid, right? Then don’t dive into a Business Plan without a comprehensive study that shows HOW your business will work, and that’s a Marketing Plan. There are plenty of Marketing computer programs on the shelf, and most of them will guide you through the basics. Use them. Remember this, “Marketing is Everything!”

WHAT IF
What if you start your own business and it doesn’t work? What if it works, but you don’t make enough money to buy bread for the table? What if you need employees? What if that big competitor undercuts you? What if?

The answer to the ‘What if?’ question is to pull out your analysis sheets and re-do everything. Don’t throw money at the problem unless money IS the problem. Consider hiring an industry expert to analyze what you are doing. Form a Focus Group to see what your customer’s REALLY want. Request a visit with an out-of-state competitor. Ask your trade group representative for the names of people who could help you analyze the problem. Don’t just sit back in your corner feeling sorry for yourself or blaming the world. Pity parties don’t solve problems. Get out there and fight!

END RESULTS
If you are presently where you were three years ago, you’re in a rut. If starting your own business terrifies you, don’t do it; but realize that the rut will only get deeper and deeper. Change careers, change jobs, change cities, change your appearance, or change your education level! Do whatever it takes. Whether you pass or fail in life is not the object, it’s how you played the game while you are here. So … What’s keeping you from success?