Preparing for one day owning a business

EwergreenEwergreen subscriber Posts: 2
edited July 2008 in Business Planning
I`m 25 years old, and I`ve always known I wanted to work for myself. At this point I haven`t got a clue as to what I want to do. But since I`m VERY sure I`ll oneday start a business, I was wondering how I could already start preparing for the big day.
Are there any things that every business owner should be able to do, or is there something I must already start doing?
I would really like a small business, which would already teach me something, but haven`t got a clue as to what I could do. Ow, and I`m from Belgium.

Comments

  • johnqhjohnqh subscriber Posts: 4
    My observations:
     
    Personal preparations:
     
    1. It is easier to start a business when you are young and single. Just make sure you have enough saving to last you at least 6 months to 1 year.
    2. Once you are married and have kids, it is extremely difficult. The family commitment (including time and money) makes it less feasible to take big risks.
    3. Work out, get into physical shape. Once you start business, the work schedule will be very irregular and you will lack sleep and nutrition. Get in shape before you start.
    4. Plan for your health care. I don`t know how Belgium healthcare works. If it is public health care, that`s easier. If you have to get insurance through employment, plan for it. Use your insurance as much as possible before you start your business.
     
    Professional preparations:
    1. Network. Talk to people. They may help you with your business in the future.
    2. Learn accouting. No matter what kind of biz you have, accounting skill is needed.
  • KevDevKevDev subscriber Posts: 5 Member
    Great advice from everyone. My 2 cents:
    1. Complete as
    much school as you can. Pay particular attention in math class, as math
    is the basis of accounting.
    2. Go to work in the industry that you
    would like to pursue. In other words, go to work for the competition.
    Let them pay for your education – much better than having to pay for
    your own mistakes.
    3.  Save as much money as you can to help fund your
    business when you go out on your own.
    4. Finally, and it may not be for years, write a business plan and take the leap.Good luck!
Sign In or Register to comment.