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So, you want to start your own company? Welcome to what many call "The American Dream".

We all dream, at one point or another, to be able to have our own piece of the pie in American business. We look at the Michael Dell's and the Bill Gates' of the world and think "Hey, I can do that too".

My wife and I did just that in the early part of the 21st century. I had been in Real Estate and mortgage for some time and my wife had been in the mortgage industry as well so we thought we should go into business for ourselves. I mean, come on, we knew more than the average person regarding mortgage, she had helped start up a company and we could always lean on my charm and great looks (please turn on your sarcasm meter now). So, we decided at that point to open up Desha Mortgage.

We started off working as a "net branch" of an already established mortgage brokerage in Central Texas. We were working, just the two of us, in a 10x10 office room that cost us $500.00 per month. At this early stage in our marriage, we didn't have children so we could devote all of our time to this endeavor. From there, we moved out into a large office, eventually received our own licenses and went out completely on our own with Desha Financial. We eventually closed our doors three years later. A variety of circumstances caused this shut down: A new baby in the family, the declining mortgage market, and my need for more structure. All in all, it was a wonderful experience and one in which I learned many lessons.

Those lessons are vital when wanting to start your own business. Here are five things you need to keep in mind when deciding to chase the "American Dream":

1. Know your product. Is this product I'm wanting to sell a viable one for my area? Is there a need for it in the area? So many times we have this great idea that no one else has thought of...at least that is what we think. If there are no other catering businesses in your community, could it be that someone else has tried this business and failed at it because there is no market for it currently? Make sure you investigate these sort of things and know what your area needs and wants...not what you think it needs and wants.

2. Along with that last point, know your area. If your town or city is known for ABC, don't sell products or services that relate to DEF. You have to get a good feeling for what drives people, what motivates them. If you are in an area that is crazy about high school football, don't market services that cater to girl's

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