By Evan Vitale
This is the first of three parts in starting a new business.
Starting, running and owning your own business is a huge step and big commitment. It’s a dream most of us have, but a dream that might be too risky when considering the current economy and your current employment situation.
Will your startup business afford you the ability to replace your current job and benefits? Or, perhaps, you need to start a new business to replace the job you recently lost.
Starting your own business is scary. After all, studies show that only one of 16 businesses survive the first year. The first three years will be the most difficult as you try to grow your business, attract new customers and keep overhead costs to a minimum (which is one reason why most startups work out of their homes or create an online business).
One common advice shared among current business owners is this: try to build a new business around something you enjoy doing. Perhaps, you have a hobby that you can turn into a business opportunity. For example, if you enjoy fishing, perhaps you could start a retail tackle store, teach people how to fly fish, or start as a fishing tour guide.
Another option in starting a new business is to build it around your current job. For example, if you’re into software development, perhaps your new business could creating software for private companies or creating apps for smart phones and small businesses. Either way, it will be easier for you to start your new business based on something you already enjoy and/or know.
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Check out another blog by Evan Vitale at http://evanvitale.net