Don't Doubt Your Ability to Run a Business

You've decided you want to be a business owner, but the voices in your head are saying:

• Why do you think you can?
• You don't know enough.
• You've never run a business.
• You're too old!

Baloney! Let's look at it a different way:

• Have you run a home? Looked after a family? If the answer is "yes" to either of these, then you're qualified.
• Do you enjoy learning new things and meeting new people? You can learn what you don't know.
• Do you keep your life (and maybe others' lives) running fairly smoothly? If so, you've got the necessary management skills to run a business.
• You're not too old.

Think of your business the same way you think about planning a cookout. Here are the decisions you know you have to make:

1. What
2. Where
3. Budget
4. Menu
5. Guest list
6. Schedule

What (Product development): Why are you inviting people over? Perhaps you're having a Labor Day cookout.
How this applies to the entrepreneur: As a budding entrepreneur, you've decided on the product or service your business will provide.

Where (Logistics): Your backyard or deck is looking great, so you decide to have it there.
How this applies to the entrepreneur: For your business, you decide where you will start and run your business.

Budget (Finance): For a homemaker, this is not rocket science. How much money do you need to buy the ingredients and paper goods, and to hire any help? What equipment do you need to prepare the various dishes? How this applies to the entrepreneur: In business, you'll be considering the costs to manufacture your product. How much does the equipment you need cost? The process is the same if you're bottling your plum jelly, assembling a new type of widget or making earrings in your basement. Only the degree of complexity varies.

Menu (Product Line): Will this be a one-dish extravaganza or burgers, brats, chicken and all the fixings?
How this applies to the entrepreneur: Will you start your business with just one product or will there be several options and variations? How will this decision affect your budget?

Guest List (HR): The key to a successful party is inviting a good group of people and helping each of them shine. The same is true of a business.
How this applies to the entrepreneur: Doing business with good people--people with whom you are comfortable--and helping them do their best will help your business run smoothly and allow you to concentrate on growing your business.

Schedule (Time Management): Pulling off a party is about getting the right things finished in the right order and on time. Boil the potatoes to make potato salad; set out the ketchup, mustard and relish before cooking the hot dogs.
How this applies to the entrepreneur: Running a successful business relies on the same skills. You must find the right suppliers, get the necessary supplies prior to starting production, have the right people on your team (not necessarily employees) and set a realistic target to complete these tasks.

Whether offering a product or a service, consider these tips to keep your business at its simplest. Though there are other important facets, this really is what owning a business is about.