ADVICE FOR POTENTIAL NEW BUSINESS OWNERS
Are you going into business for yourself? Follow the information below to ensure that you are getting involved with something that is going to be enjoyable and profitable! We also suggest you read this section detailing setting up a first-time business.

You've got to love what you do
Of course your goal is to accumulate money from owning your own business. But unless you look forward to going to work each day, you will soon lose your energy to continue. Choose your journey wisely so that each morning you are happy to go to
work. Positive energy will be the foundation for your new business.

Research what the public wants
You can't gamble on knowing what people will pay for when you start your own company. You can't randomly choose something you think people will like and hope to be successful. Do your research first. Find out what people are interested in. What are
new and useful things the public is responding to? Watch television and surf the internet to familiarize yourself with up and coming ideas. Ask friends and neighbors questions regarding your business ideas. Don't assume that an item is what the public wants just because you like it. Don't assume there is a need for your skill without doing your homework.

Make sure you have the funds
Don't be naive and think all you need is a good idea for a new business. You need money. It is not enough to have the funds to open your business. You have to plan for the fact that you have to wait to get paid once you start selling. You need a flow of cash to last you through the trials and tribulations of trying to collect money that is owed to you. Plan carefully regarding your own cash, loans from banks and/or partners or investors. Some people keep their current jobs and start their companies on a small scale, working nights and weekends. If you think you are going to need financing to get your business off the ground, learn more about the start-up loans we offer.

Network, network, network
These days it is easier than ever to connect with fellow entrepreneurs. With social media like LinkedIn, Facebook, and Pinterest, you can reach out to endless numbers of people who can benefit your start up. Information, advice and marketing ideas are yours for the learning if you make the effort to network with other people who share your business goals and/or have relevant knowledge to offer.

Get advice from business veterans
Don't be too shy or proud to ask for help. People who have successfully begun their own business have valuable information that they will likely be happy to share with you.

Be sure you have what it takes
For the first months, even years of your company's start up, you should expect to work harder than you have ever worked in your life. You must think one day at a time and make sure you stay in business until the next day. Each morning begins a new
opportunity to expand your knowledge and customer base. Be prepared to alter your lifestyle physically, mentally and monetarily to support this new venture.

Evaluate yourself
Don't overestimate yourself. Be realistic about your knowledge, abilities and weaknesses. Decide if you need support from others in order to make your business work. Your business has a better chance at succeeding if you are clear about what you
can do yourself and what you need help with. You may need to reach out for assistance from others.

Pace yourslef
Once you commit yourself to developing your new company, pace yourself. Although you are going to want to jump in and hit the floor running, it is important to realize that if you work round the clock and wear yourself out, you will then fail. Plan a work schedule that includes time to sleep, eat and take care of yourself. This will help you have the energy and drive to keep striving to make your business a success.

Don't do everything yourself
Although you will probably be tight for cash, you still need to try and afford help. Your time is valuable. If you can find a student or an intern to work for you a few hours a week to do paperwork, that would free you up to work on marketing, promoting and developing your business.

Be patient
Slow and steady wins the race, and succeeds at business as well. Keep your head in the "game". Remind yourself that your business is not going to take off overnight. As a general rule a new business does not really show profit for about 3 or 4 years. So expect to plod through the first few years and keep your eye on the prize. Your unrelenting dedication to your new business will produce a successful enterprise before long.

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