For various types of small businesses, explains how to create a business plan, decide on the best legal structure for your business, and market it. Also provides information on selling your business.

Although most people head off to work for someone else every day of their careers, some find tremendous satisfaction and success by owning and operating their own business. Running a small business involves a wide range of activities, including developing a business plan, overseeing sales and marketing, dealing with personnel, and innumerable administrative responsibilities. If you think you're up to the challenge, owning your own business can be tremendously rewarding, both personally and professionally.

Are You Ready to Be an Entrepreneur?
Getting a new venture up and running takes particular business skills and personality traits. If you are considering starting your own business, the following questions may help you decide if you're up to the challenge.

• Do You Have the Mindset?
• Do you have personal drive and leadership qualities?
• Do you have organizing ability?
• Are you psychologically ready to take some risks?
• Are you prepared to wait several months or more before you make a profit?
• Do you have specific expertise in the business you want to start?
• Do you like to think ahead and plan for your future, then work to make it happen?

The right mindset is only the beginning. You'll need important business skills as well.

• Do you know how to find your particular niche in the market and how to identify your customers?
• Do you know how to sell enough of what you have, at a price that will return an adequate profit for you?

Although there are no guarantees, if you answered yes to most of these questions, you may have what it takes to be successful in starting your own business. Just remember, every new business faces difficulties.

Download Being an Entrepreneur

PDF format, 779KB, 12Pages.

This Life Advice® pamphlet about Being an Entrepreneur was produced by the MetLife Consumer Education Center and reviewed by the Internal Revenue Service.

MetLife, Inc.
200 Park Avenue
New York, NY 10166
www.metlife.com

TABLE OF CONTENTS
Are Your Ready to Be an Entrepreneur? . . . . . . . . . . .1
Getting Started . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
Writing a Business Plan . . . . . . . . . . . . . . . . . . . . . . . .1
Put It On Paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Down to Business . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Home-Based Businesses . . . . . . . . . . . . . . . . . . . . . . .5
Family-Owned Businesses . . . . . . . . . . . . . . . . . . . . . .6
Selling Your Business . . . . . . . . . . . . . . . . . . . . . . . . . .6
Being Your Own Boss . . . . . . . . . . . . . . . . . . . . . . . . . .8
For More Information . . . . . . . . . . . . . . . . . . . . . . . . . .9

Comments (0)

Name

Email

Comment

smaller | bigger

Add Comment