by PKMitchell

Created on: March 30, 2009

Courage, brains, and a heart. Yes, the familiar story of Oz can provide us with many simple lessons about life and business. When considering what it takes to start your own business, think first about your life where it is now, where you want it to go, and how you plan to get it there. Then look at your business needs . . . and how the lion, the tin man, and the scarecrow can guide you to success!

Courage. Some may think only the foolish take the leap into entrepreneurship. Why leave a solid paycheck to take a chance on growing a successful business of your own? In fact, though, starting your own business requires a great deal of courage. Taking that leap of faith and deciding to run your own business is anything but a sure thing. Businesses fail every day. However, with the right planning and preparation, you can be confident in having the courage to strike out on your own.

Brains. Know what you are doing before you take that leap. Plan and prepare for all scenarios involving your business and your life. Create a business plan and a marketing plan, using realistic predictions as well as desired outcomes. Calculate exactly what it will take, financially, to stay afloat for the first year or two, before your business starts to make a real profit. Use those great brains of yours to do your research and find out what the market really needs and wants and is willing to pay for before you invest your time and money into your business idea. You should also consult with experts, such as small business counselors at your local community college, who can help guide through the process of writing your business plan.

Heart. You are not going into your business alone, even if it is a sole proprietorship. There may be friends and family involved and there are definitely customers/clients to consider. Put your heart into customer service strategies. In a challenging economy in particular, customers want to know that business owners care about them. True they will be considering their own bottom line when deciding where to spend their hard-earned money, but a business with heart will certainly have an edge over a business they know is just out to take that money from them. Decide you will treat your customers and clients better than you would want to be treated by a business yourself and you will succeed.

When considering what you need to start your own business, don't rely on clicking your heels three times and wishing for it to happen. Instead, focus on your plans, your dreams, the reality of the situation, and, most importantly, your customers.

Learn more about this author, PKMitchell.
Click here to send this author comments or questions.