Have You Got What It Takes To Start A Business? Let’s Discuss

Two key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Starting a business requires a specific set of skills not everyone possesses. In addition to the skills needed by an entrepreneur, there are also a set of tangibles as well. The following contributed post is entitled, Have You Got What It Takes To Start A Business? Let’s Discuss.

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The end of the year is in sight and because of that, a lot of people are starting to think about goals and resolutions for the next twelve months. It might be that you want to focus on your lifestyle. Improving your health and fitness and placing more focus on your mindset. Maybe it is financial goals that you have in mind. For many, it is about progressing their career, starting a business from an idea and working for themselves. There are many incentives to want to do it, it might be more time, improvement on your lifestyle once more poor simply an ambition you want to conquer. But do you have what it takes? With that in mind, here are some of the things to think about.

Image source – Pixabay – CC0 License

Work on your idea and create a business plan

One of the first things you need to think about doing would be to work on your idea and create a business plan. This might sound obvious, but many people are in love with the idea of working for themselves but have no clue how or what to do to make it happen. You may already have an idea that you have worked on for some time. Or it could be that you just have the desire to do it. Working on your idea and then creating a business plan to support it can help you to make the dream more of a reality.

Do you personally have the right skills to do it?

Another thing to think about would be to decide whether you have the right skills to make it happen. Sure you may think that you have that entrepreneurial flare but do you have business know-how to go with it? This is when speaking to business coaches for entrepreneurs could help you do that. They may be able to give you confidence and the boost that you need in your skills to help you on your way to starting a business from home or working for yourself.

Where will you work and when?

Working for yourself does bring up the question of where you will work and when is the best time to do it? Many businesses will start off from home, and this can give you great flexibility as well as keeping the costs down. But you might also need to think about when the best time to work is. For some people, they may be more productive in the morning, whereas others will find working in the evening is the best time to make the most of family life and other commitments during the day. Having dedicated time and also a dedicated space to work can help you to stay focused.

The financial backing to do it

Finally, you may need to consider what financial backing you have? This might be because you need to think about supporting yourself and your family in those early set up days. Or feeling the need for an investor to help you kick start the venture in terms of products and creating a brand.

Let’s hope these suggestions help you to start your own business next year.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.

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