person with genuine ambition for commercial success will never be completely

satisfied until he has become self-employed and started his own business. But many
successful businesses have been started because the proprietor was forced into this course
of action because of redundancy.
Before giving up his job, the would-be businessman should consider carefully whether
he has the required skills and the temperament to survive in the highly competitive selfemployed
market. Before commencing in business it is essential to assess the commercial
viability of the intended business because it is pointless to finance a business that is not
going to be commercially viable.
In the early stages it is important to make decisions such as: What exactly is the
product being sold? What is the market view of that product? What steps are required
before the developed product is first sold and where are those sales coming from?
As much information as possible should be obtained on how to run a business before
taking the plunge. Sales targets should be set and it should be clearly established how
those important first sales are obtained. Above all, do not underestimate the amount of
time required to establish and finance a new business venture.
Whatever the size of the business it is important that you put in writing exactly what
you are trying to do. This means preparing a business plan that will not only assist in
establishing your business aims but is essential if you need to raise finance. The contents
of a typical business plan are set out later. It is important to realise that you are not on