Xtraordinary Women Magazine July 2014 | Page 6

5  Things  to  think  about  before  starting  a  business   South  Africa’s  economy  is  reliant  on  people  stepping  out  there  and   starting  their  own  businesses.  Entrepreneurship  is  something  that   our  kids  now  learn  about  at  school.  There  are  even  courses   available  for  those  who  want  to  be  entrepreneurs.   It  does  sound  very  exciting  on  the  surface,  before  you  hand  in  your   resignation  though,  ask  yourself  these  5  questions:   1. Why  do  you  want  to  leave  your  current  job  to  start  your  own   business?  As  an  exercise,  take  this  answer  and  ask  why  again   and  do  this  3  more  times.  It  might  sound  silly;  however,  it’s  a   technique  you  can  use  to  drill  down  to  what  the  real  reason   is.       2. What  is  your  business  going  to  be  doing  or  selling?  Have  you  researched  the  potential?  Research  is  not   asking  colleagues,  friends  and  family.  We’re  talking  proper  research,  the  kind  that  takes  time  and  effort.   You  really  have  to  be  very  certain  that  there  is  a  market  for  your  product  or  service.       3. Where  are  you  going  to  run  this  business?  Can  you  run  it  from  home  (a  good  Plan  A,  if  possible,  as  this  will   limit  your  overheads)  If  you  need  external  premises,  where  will  be  the  most  suitable?  Do  you  need  any   permits  to  trade?     4. When  do  you  anticipate  starting  this  business?  Do  you  have  the  necessary  knowledge,  skill  and  experience   to  run  this  business?  If  not,  how  will  you  add  to  your  skills  set?    Remember  that  product  and  service   development  are  not  the  only  thing  to  take  into  consideration,  Marketing,  Sales  and  Finance  are  all  areas   that  you  need  to  consider.     5. How  are  you  going  to  support  yourself  and  possibly  your  family  while  starting  up  this  new  business?     Where  ever  possible,  I  always  recommend  to  my  clients  that  they  get  their  business  started  while  still  employed.  If   your  idea  turns  out  to  be  a  hobby  that  you  make  some  extra  cash  from,  nothing  wrong  with  that.    You  can   download  a  free  Start-­‐up  Checklist  from  my  website.   If  you  want  to  start  a  business  because  your  hate  your  job,  download  the  free  “Where  am  I  stuck?”  worksheet.   This  will  hopefully  allow  you  to  decide  where  the  problem  really  lies  and  then  create  an  action  plan  specifically   aimed  at  rectifying  the  situation.  http://www.carolgerber.co