Next to buying a house, going into business is one of the most challenging, stressfully exciting, expensive experiences you are ever likely to have. Starting your own business has the advantages of being your own boss, flexible working hours, earning income well in access of working for someone else, developing your own ideas and the satisfaction of knowing you did it on your own.

Many people believe that to start a business all you need is a product, some money and a lot of determination. While this is absolutely true, before you open your doors for business you need to ask some searching questions about yourself.

For example:

?Do you have the patience to give this fledgling business at least two years of your undivided time and energy?

In some instances at the expense of family time, evenings, weekends, and holidays?

?Does your family support you in this undertaking?

It's bad news if your partner's view of the big picture differs from yours.

?Have you talked to others who have developed a successful business from the ground up?

More often than not they are only too willing to let you know of their experiences.

?Do you have or can you get access to the necessary finance to start up?

Creditors don't wait; they have their own agendas.

?Will this undertaking be on a part-time or full time basis?

Part time, until income from a new venture improves, may be the better option.

?Who, if anyone, can you turn to in the event of an explosion of sales?

What if you become ill or incapacitated?

?Do you have the technical know-how required?

Can you alone provide your product or service or will you need to hire the appropriate people?

?What are your legal responsibilities?

The Taxation Department waits for no man.

?Do you live a healthy lifestyle?

If late nights and parties are your thing then you may need to rethink your business idea, if your

intention is to operate a bakery.

This is only the beginning of the many questions you will need to ask yourself before you venture into the world of small business. Look at whether you have the right mental attitude to run your business or would you, in all honesty, much prefer a regular job with a regular pay packet at the end of the week. If in the end you decide on the latter, obviously that is what is right for you.