Should I start my own business? At many times in a person’s life he or she will ask that very same question. The answer to that question can only be answered by you. Many times the answer is obvious. It is based on a few key things. The first is your personality. If you are determined, organized, tenacious, enthusiastic, driven, self-motivated, and a person not easily moved from your goals, and can manage things fine by yourself then perhaps you would do well as a self-employed person. You have to have a belief in yourself and your product that is unwavering.

The second is your circumstances. Many successful business owners found their way into business ownership because of a lack of employment in the area that they live. Some found an absolute need that was not being addressed and set about to fulfill that need in the neighborhood. Others found out very quickly that they don’t have the personality to work with any sort of boss. Still others do business on their own because it’s convenient to their schedule or they want or need to be at home and the need for more income.

Another point to consider is collateral or working capital. How are you going to supply yourself? For an example if you are making bread you need to buy the ingredients each day. Sell your bread and buy more flour, eggs etc. Do it over the next day. Where do you get the first dollar to make the first loaf of bread to sell? If you don’t have capital then you need a source for a loan or credit. Many successful business owners have gotten their first loan from a family relative or friend.

The successful business person also has at least one person who says “you can do this.” Who are the people in your life who encourage you? If you’re a parent it could be your child, spouse or partner. It could be your parent even if your parent has passed away and you still hear a word of encouragement in your heart. Who motivates and encourages you when you feel like giving up?

You have to be tough to have your own business. You conduct your business whether you feel up to it or not. If you have to deliver goods, you do it in all the extreme weather conditions, or if you or your child is sick or your truck broke down. You have to get your goods to the buyer or you don’t earn your money. No money no rent paid.

Lastly you have to determine what you are good at. What is the need that you want to fulfill? Who will buy from you? How will you get it to your customer? Where do you set up your work place? Where do you get some money to begin to turn your idea into a business? There are a lot of businesses that don’t require a lot of investment. For an example if you’re good at sewing, you only need your sewing kit and a place that your customers can come to have their clothes altered. You can expand your services as more customers are asking for more things to be done. If you want to sell information on-line you need a website, e-mail account and other people informational products to sell or your own. Most of your money will be in the advertising of your website and that product.

So if you still think you should be in business for yourself, “Why do I want to go into business? What do I like to do? What do I have to offer? Is there a need for it? Can I sustain myself? Do I have someone who encourages me? Do I have the toughness to see it through? If all the answers are yes, you should follow your dream and open your own business. Remember slow and steady wins the race.