Questions to ask yourself before starting a new Business

Owning a home accustomed to being the “American Dream.”  However, this long-standing goal that numerous aspired to, associate degree ultimately reached, has been replaced with a new goal -- changing into a business owner.

At first, it seems ideal: leave the corporate world behind and become an entrepreneur. There is not much mobility, workplace politics, hard co-workers, and tight supervisors. You will be your boss and reap all the financial rewards. It will be a new lifestyle with incredible opportunities and much less stress.

Others achieved the new "American Dream". Consider the little kids who started Apple on a shoestring in the late 1970s. Don't forget the engineers who launched a little company, Hewlett Packard, out of their tiny backyard garage. Ms. Fields took the cookie trend — of all things — and engineered it into a national model taught at many business schools.

Why not you? Yes, you have to succeed in excellent business ideas, but that alone will not be enough. Breed yourself, does one have the right stuff to start and run a fruitful business? Here are 5 questions to consider before making the big leap from worker to employer.

1. Are you a beginner?

With no one watching what you have to do, it's easy to procrastinate. You want the discipline required to plan, set goals, and stay focused.

Since many {start} small businesses start from home to stay low performing from home brings more distractions. Are you able to resist the temptation to eat cookies and watch reruns of "Law & Order" after you've had to make promotional calls?

2.  What are your expectations?

If your goal is to work fewer hours and feel less stressed, think again.

The US Small Business Administration estimates that owning a business takes an impressive commitment, with a 12-hour work day, usually seven days a week. Needless to say, this can be a stressor in family life. If you think it would be too much, consider adjusting your job instead or a completely new career with an existing company rather than starting your own business.

3. What are your money goals? 

In short, the financial gain may be lower in the short term, and you may maintain this pattern for a long time. Plus, no one pays for vacations, healthcare plans, percentages, or stock options. You also want to create your retirement savings plan.

The US Small Business Administration provides some serious statistics. It states that half of the small businesses started will fail in the introductory year. Furthermore, by the fifth year, 95% will have stopped working. While interpretations of failure differ, first and foremost

A common reason may be the lack of sufficient financing. To beat the odds, meet with an independent accountant to honestly discuss your finances and expectations. The good news is that if you start your own business, you will reap the financial benefits.

4.  Are you a “water-cooler person” at heart?

After you become a business owner, the days of eating an extended lunch or chatting with colleagues are over. Can you build the transition from "working bee" to the boss being lonely?

On your own, you'll create endless choices every day - from the mundane to the important. You alone must bear the daily ups and downs that come with running a business. However, it can even have massive rewards in building something from scratch. So, if you think that you will be able to overcome isolation and punch the punches, then you are probably a decent candidate to own your own business.

5. are you able to produce an organized environment?

Wherever you matter. You will want a suitable workplace and therefore the right workplace tools to be artistic and successful. Even more important is how you work.

For example, you will be able to get a sales presentation with the latest technology that may impress clients, but if you are always late for conferences and lose important documents, you will most likely lose your business. Ask yourself if you can thrive in an atmosphere where creative thinking and operating systems are equal. Many entrepreneurs make the mistake of thinking that a company will simply "run itself" if they come back with good ideas and business leadership. They pay little attention to the small details of building a business. Very often this can be a tendency to fail.

To be successful, you want to blend your great ideas and business tools with solid design and organization.

The success of any new business is rarely guaranteed. There are a lot of variables, and a lot of factors completely out of your control. However, you'll be able to avoid making a costly mistake by asking yourself, bluntly - before you take the plunge: Do I have what it takes to run a business? The answer should tell you whether the new "American Dream" is right for you.