Are you one of those who dream of owning your own business? You’ll be your own boss, and the captain of your destiny—–maybe even a captain of industry. Is it hard? Without a doubt. Is it challenging? Absolutely. Do you have to be wealthy and well-educated with a lengthy resume? Not at all! Can you do it?
Have an idea: It might be a product you’ve always wanted to make, or a service you feel people need. It might even be something people don’t know they need yet, because it hasn’t been invented!
It can be helpful—–and fun—–to have people who are bright and creative join you for a casual brainstorming session. Start with a simple question like: “what shall we build?” The idea is not to create a business plan, just to generate some ideas. Many of the ideas will be duds, and there will be quite a few ordinary ones, but a few will emerge that have real potential.
Define your goals. Do you want financial stock market tips independence, eventually selling your business to the highest bidder? Do you want something small and sustainable, that you love doing and want to derive a steady income from? These are the things that are good to know very early on.
Create a working name: You could even do this before you have an idea for the business, and if the name is good, you may find it helps you define your business idea. As your plan grows, and things begin to take shape, the perfect name may come to you, but don’t let that hinder you in the early phases—–create a name that you can use while you plan, and don’t mind changing later.
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