You are ready to become an entrepreneur, such as Saul Mishkin. You have a wonderful idea for a business and a product that people will love and you are ready to share it. Before you look for funding, you need to be sure this is the path that is right for you. Many people dream of being entrepreneurs but what they do not count on is the reality of being one. The following are quick tips for preparing yourself for success.
Get help from a business consultant. Find one through a local business organization who is experienced and specialized in your field. The money you invest in their advice, according to Forbes magazine, should pay for itself in 90 days.
Incidentally, you should also be ready to spend money in order to make money. Also be ready to work at finding work everyday. This is a lot different than a paycheck job.
Hire a good CPA. They will do more than help you form the best type of business structure and file your taxes. They will make sure your venture remains compliant per local and federal regulations.
Many people go into self-employment because they hate their jobs. They hate their bosses. They want to quit and start their own business. That is the entrepreneurial spirit but remember that you need to now fund your project, find someone to help fund it and you always need to be working at it.
You will do more thinking about what to do than doing what you do no matter if you are starting out or if you have been doing this for years. You need to be flexible and adapt to the changes in your field. Be ready to manage as the economy change. You can pull out of any economic downturn, but you will need to always be creative, flexible and positive.