Get Advice From The Experts

Before starting your own business it is a good idea to test the waters. One way to do that is to talk to individuals who are in the same business. If talking to local business wont work go to businesses outside your geographical area. You will be surprised by the information you can obtain by talking to people within the same line of business as yours.

The Internet is another great source of information you might want to check into. Forums and newsgroups are a great source of information and should be able to supply you with some of your questions.

Regardless of the method you use to contact people, take the time to talk with seven to ten business owners in the type of business you are considering. Below is a comprehensive list of questions that will help you decide if the business you are considering is the right one for you.

• How long have they been in business?
• Why did they start their business?
• Would they start the same kind of business again?
• What would they do differently if they could do it over?
• What special skills are necessary for this type of business?
• What special knowledge is needed?
• What is the most difficult thing about this type of business?
• What do they feel are the important skills required for Success?
• What do they like most about their business?
• What do they like least?
• How much should I expect to make my first year?
• How much can I expect to make after five years?
• How much money should I set aside to start my business?
• How many months passed before your business showed a profit?
• How seasonal is the business? Do the revenues vary from month to month?
• What does the future look like for the business?
• Is there any proposed local, state, or federal legislation that may have an impact on the business - positive or negative?
• What advice can they give you?
• Can they recommend anyone else you should talk to?