Do you have the commitment, drive & perserverance to turn your idea into a real business venture? Think about your skills & other qualities. Have you asked others, maybe family & friends for their thoughts on your plans?

2. Your product or service

What is the product or service you are offering? Think about its USP (Unique Selling Point); what will make your customers buy it? How can you make your product/service stand out from the others?

3. Have you researched your market?

Have you thought who your customers might be, who you could be competing against in your market? What are yoyur personal strengths, weaknesses, opportunities & threats - do you need to carry out a SWOT analysis? Think about the 4 P's - (product, price, promotion & place). Again, ask your friends & family for their thoughts. If necessary, are you ready to alter your original product/service?

4. Know your resources

Do you have all you need to get started? What about your skills, knowledge & experience as well as funds & property? Do you know where you can obtain any resources you may lack?

5. Your business plan

It's about time to really put your money where your mouth is! Try to outline your business & marketing strategies. What about those all important financial projections & cash-flow forecast? Be realistic! What about the legal requirements? Such as tax, National Insurance & VAT obligations? Then there's the health & safety issues, especially important if you're employing staff.

If you are satisfied that none of the above makes you break out into a cold sweat, & you believe you have what it takes to make the next move, then you are clearly on your way to becoming your own boss. Well done!

>> How to plan

>> Legal Structures

>> Suriving the 1st year