Is starting your own business a good idea?

I don't know what I want to do but I got inspired by small, close-knit towns and maybe opening a bakery/coffee shop type thing. Is that far-fetched or is it actually conceivable? How hard is it really?

The short answer is it depends.

Some of the questions you need to address:

- Where am I in life and can I afford, financially and/or emotionally, to undertake a startup?

- What is my risk profile? How much downside can you endure?

- Am I suited to starting a new business? Google entrepreneur questionnaires and answer some of the survey questions.

- If you are married and/or have kids, are they prepared for long hours and time away from home.

The foregoing answers some of the questions concerning you.

You should also be asking questions about the viability of the new business startup. What is the market? Who are the customers? What is your competitive advantage? Who is the competition? How much money do you need and how will you finance it (family, friends, credit cards, angels, banks, etc.)? How will you price your product? Do you have a distribution strategy? Is your company web-based?

There are many good books and blogs that can help you with your question. Goodle startup books and startup blogs to get started.

Good luck,

Jack

I suggest that you go to score.org for excellent ideas and, if there's a local SCORE office, visit the folk there. Their advice will be excellent and, best of all, it's free of cost.

Good luck.

If you are an energetic, hard worker with good business sense it's a great idea.

Nothing beats a failure, but a try, and if you find something that inspires you, and you choose to do that then go for it, because now days with the economy going the way it is the best way, now still continue to work though just in case your business falls through...

If you arent afraid to work

have the time

have the money

and have an idea......do it

Well, I would say starting you own business has its good and bad sides. First, you will be working for yourself, not someone else. It is usually very expensive in the beginning, especially if you're doing it by yourself and can take some time to show any profit. If you know the market, you can do quite well, but it's still a risk, especially with a small business.

Write a business plan...the answers will emerge.

Opening your own business is the only way to becoming the owner of your own time on this planet.

So is it a good idea? .... in my opinion, its the only idea you should be thinking about every waking hour.

As long as you are content to have a job and work for someone else....well, your time...or unreplaceable time... is someone elses too.

best wishes :)

You should also consider risk factor and investment cost. Offline business such as bakery or coffee shop will have a much higher risk and investment cost compared to online business.

I would suggest that you could get into internet or online business instead.

Patrick
http://www.income-internet-business.com