However, before you make up your mind to start a business, consider what is involved. For one thing, do you really have the motivation? You may have a fleeting thought of starting your own business; many people do! But very few actually go through with their dreams, and even fewer succeed! That doesn't mean you won't go through with it and won't succeed, but just be sure that you are the type of person to take on something of this magnitude.



Remember, that opening your own company is not easy and will take a lot of tenacity and drive on your part. Money is necessary, but if you have good credit, you can get a small business loan!

If you are sure that you are the right kind of person to own your own business, now it's time to start planning! Sit down and write down all the details, even if you do so in a brainstorming/disorganized fashion. Write down the details:

-What kind of business?

-Location?

-What products will you carry?

-What brands?

-How big will your staff need to be?

-Will you have a partner or a group of partners (co-owners)?

-What kind of building will be required?

-What supplies will you need?

-What will the business ethic be (company mission statement/vision)?

-What will the design of your business decor be like?

Once you brainstorm, organize and re-write down your notes, preferably in a word processing program on the computer. Keep your rough drafts, though, to refer to later and make sure you fulfill your original vision for your business. It will also be a nice thing to look back on once your business has been open for a while (especially years later).

Finally, write down all your financial needs to get started, and apply for that loan. Show the loan officer an organized business plan. You can find templates for a formal business plan online. You are more likely to be granted the loan if you look serious and organized. Make sure you look professional when you appear to get the loan.

Then, start putting the plan into action. Hire your employees and spend wisely. Less is more here. Don't lease a building that is all made up, for 3 times the amount. Lease the cheaper building and renovate it. Do everything you can to consume the funds from your loan. You'll need the money later to keep the supplies up and keep things going in the beginning.

One more thing: don't spend your small business loan on personal expenses. This is a big mistake. If you do this, you won't have the money you need to keep your company going, and you'll wind up with a debt you can't repay and in worse financial shape than you started. Even worse, your credit will be ruined and you won't be able to get future loans when you need them!

Keep your head on straight and do things right, and you will succeed!