Almost everyone dreams of starting his own business at some point in his life. After all, the allure of owning your business is tremendous. You are not answerable to anyone; you can set your own time; and the return you get from the business is all yours. What can be better than this? Well, before you get too far in your dream remember that half of the businesses fail in the first 5 years of their existence. There are many challenges and nuances in running a small business than many people realized.
However, that doesn’t mean that no one can succeed in starting a small business. There are number of successful entrepreneurs who have gone on to grow their small business into multi-billion-dollar businesses. So, what do you need to do to take that first step and start your own business? Preparation is the key. Here are the things you need to prepare before opening the door.