Checklist for Starting a New Business

The individual who decides to establish his or her own small business stands on the cusp of an exciting and potentially rewarding period of life. But he or she also faces a number of decisions that will likely have a considerable impact not only on the ultimate success of the entrepreneurial venture, but also the very character of the individual's life. Of these decisions, perhaps none is more significant than choosing the type of small business that they will establish and maintain.

Factors that should be considered before choosing a small business are numerous, ranging from financial and family issues to those of personal fulfillment and work background. Most consultants recommend that before embarking on an entrepreneurial venture, would-be small business owners start by taking the time to examine their personal strengths and weaknesses, a seemingly fundamental step that, amazingly enough, is sometimes given short shrift in the decision-making process.