There are several important things you need to consider before spending time and money to open a business. If there is one most important of all, it is this: whatever product or service you want to sell, you must demonstrate that you have enough customers, that you can earn every day, month, year that you intend to keep the business. Imagine that your business belongs to someone else, and you have to decide whether to invest your money in it. If they didn't show you this basic information, would you invest in them? If the answer is no, then you shouldn't carry on, no matter how much you like the idea.
The second most important aspect of opening a business is that it has to be something you like. If the only motivation is money, but you're not having fun, that's not the right thing, and failure is assured. On the other hand, if it's something you're passionate about, the excitement won't stop. Your creative flow will continue to flow, putting you one step above the rest and increasing your chances of success.
Steps
Step 1. Make a list of your interests
This will help you focus on businesses that give the greatest chance of success, while eliminating possible failures.
Step 2. Set aside enough capital to live on until you start earning
Not just for you. Earnings bring hope, faith and charity to inspire you and your co-workers.
Step 3. Make a list of your skills
You can't do everything. If any aspect of your business doesn't fit your skills, you will need help.
Step 4. Assess your personality
Are you sociable or do you prefer to work alone? Do you enjoy serving others or do you dislike people? With people of which age are you best? One factor that definitely leads to failure is a rough and lonely personality. Think about the people you met while working. What are the people you want to imitate?
Step 5. Determine the risk you are willing to tolerate
Doing business can be scary, especially in the first couple of years. Some businesses are riskier than others. If you stay up all night thinking about how much you will pay on your mortgage, or if they will sue you, then you are better off with a business with less invested capital or less legal risk.
Step 6. Determine how long your business will take, and ask yourself if you are willing to commit
Many businesses require a huge investment of time. Can you and your family tolerate a 12-14 hour work day?
Step 7. Take courses
He starts taking courses for small entrepreneurs. After having done some of them it will be clearer to you whether or not to open a company.
Step 8. Set yourself goals
As the saying goes, if you aim for nothing, you get nothing.
Step 9. Regularize
Rely on an accountant to open the company. He will walk you through the paperwork and make sure things are done correctly. A good accountant will not only handle the paperwork and determine the type of company (s.p.a., s.r.l., s.a.s., s.n.c., etc.) but will also give you advice on how to avoid the most common mistakes that can get you into trouble.
