Most business advisers I know will say that writing a business plan is the first step to starting your own business, but I believe that a better first step is to do a self-analysis of your real drivers, strengths, and assumptions before committing to this lifestyle. As a result, you may tune your plan, or decide that running your own business is not the dream you thought it might be.
For example, if you see starting a business as a get-rich-quick solution, or you are trying to escape having a boss, or hate taking risks, you probably don’t need the stress of writing and trying to sell a business plan to tell you to seek other alternatives. Consider the following principles and how they apply to you as you do your reality check:
1. Identify your passion first, and list alternatives to get there.
For an inventor, the product is everything, and managing cash flow in a business may be the least satisfying part. Working for a well-funded existing company, or pursuing your dream as a…
This article was written by Martin Zwilling and originally published on www.inc.com