I told her (like I would any client) is to assess how much time you can devote the the enterprise.  It's one thing to think about the prestige of being a business owner but quite another to have to fill in because staff quit and you haven't adequate time to fill the position before the next work shift.

 

Though money is an important consideration, taking stock of your skill set is especially important.  What do I mean?  Well, I can't fix things around the house very well so becoming a handy man is not going to make me a great deal of money.  The word of mouth on my handy man skills is not going to generate me many referrals.

 

The next step once you've decided what business is right for you is money.  So many businesses are undone because they lacked the capital to give them a realistic shot of making their business a success.  Do your homework to see how much it costs to get into the business of your choice.  Try to save by doing what you can do yourself before paying someone else to do it because your capital and your cash flow is your life line.

 

The next step is aligning yourself with professionals who can help you (like a CPA firm for instance) so you won't have to learn things the hard way (expensive way too).

 

It's totally worth it to have your own business but like any thing done well, it must be done right.

 

I am a CPA in San Antonio and provide bookkeeping, payroll, taxes and more.  We offer a free initial visit and look forward to serving your business needs.

Richard J. Garcia | 07/10/2011