(NewsUSA) - Many people are motivated to go into business for themselves and often elect to start a franchise. This specific sector of small business is popular for a good reason. According to the U.S. Small Business Association, 30 percent of all independent businesses fail in their first year, compared to fewer than 1 percent of all franchises -; which makes for good odds. Clearly, the help and expertise of an already-established business makes all the difference.
Not everyone is cut out to be an entrepreneur. It takes a special talent. Some owners of small businesses have it and some don't. Before you invest time, energy, money and a piece of your heart, it's important to do some serious self-analysis. To answer such questions as: Am I prepared to work hard and make sacrifices? Am I self-disciplined? Do I have management ability? Am I experienced enough in this field? What do I want out of life? Are my goals realistic and attainable?
In business, there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business - but you can improve your chances of success with good planning, preparation, and insight. Start by evaluating your strengths and weaknesses as a potential owner and manager of a small business. Carefully consider each of the following questions.
Starting a Business
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