Checklist for Starting a Business. Part 1- Get started!

Allbusiness published a great article with a detailed plan on how to start a business. I find it very useful for every beginner as it's full of questions and tips that every Dating Site Future owner might need.

Owning a business is the dream of many Americans ... starting that business converts your dreams into reality. However, there is a gap between dreams and reality. Your dreams can only be achieved with careful planning. As an entrepreneur, you will need a plan to avoid pitfalls, to achieve your goals and to build a profitable business.

This checklist is designed to help you get started. It has seven key components:
* Identify Your Reasons
* Self Analysis
* Personal Skills and Experience
* Finding a Niche
* Market Analysis
* Planning Your Startup; and
* Finances

Each component is comprehensive and is designed to prepare you for self employment. In addition, each component includes an analysis of you responses as well as a menu of supporting resources.

1. Identify your reasons

As a first and often overlooked step, ask yourself why you want to own your own business. Check the reasons that apply to you.
* Freedom from the 9-5 daily work routine
* Being your own boss.
* Doing what you want when you want to do it.
* Improving your standard of living.
* Boredom with your present job.
* Having a product or service for which you feel there is a demand.

Analysis:
Some reasons are better than others, none are wrong; however, be aware that there are tradeoffs. For example, you can escape the 9-5 daily routine, but you may replace it with a 6 a.m. to 8 p.m.

2. A self-analysis.
Personal Characteristics
* Are you a leader?
* Do you like to make your own decisions?
* Do others turn to you for help in making decisions?
* Do you enjoy competition?
* Do you have will power and self discipline?
* Do you plan ahead?
* Do you like people?
* Do you get along well with others?

Personal Conditions
* Are you aware that running your own business may require working 12-16 hours a day six days a week and maybe even Sundays and holidays?
* Do you have the physical stamina to handle the workload and schedule?
* Do you have the emotional strength to withstand the strain?
* Are you prepared if needed to temporarily lower your standard of living until your business is firmly established?
* Is your family prepared to go along with the strains they too must bear?
* Are you prepared to lose your savings?

3. Personal skills and experience.

* Do you know what basic skills you will need in order to have a successful business?
* Do you possess those skills?
* When hiring personnel will you be able to determine if the applicants' skills meet the requirements for the positions you are filling?
* Have you ever worked in a managerial or supervisory capacity?
* Have you ever worked in a business similar to the one you want to start?
* Have you had any business training in school?
* If you discover you don't have the basic skills needed for your business will you be willing to delay your plans until you've acquired the necessary skills?

Well, it's enough to start thinking about Starting an Online Dating Business and if you have decided to do it let's go to the next step- figuring out how to do it. Please see the continuation in the next post