Starting your own business may be your lifelong dream. Big believers in their product or service want to form their own name in the corporate world without being held back by big business or working for someone else.

While faith in one’s self and a go-getter attitude is a positive start, there’s much more that goes into launching a start-up or small business. A great portion of this comes down to personality type and what you’ve got to offer. Even the best ideas can fall flat without the perseverance and attitude that gets you past the finish line.

How can you be sure you’re cut out for this venture and ready to roll? Ask yourself these “5 Ms” for a better idea if your goals are actionable, attainable, and as amazing as you think they are.

[shortcode-1-In-Article-Banner-728×60]

Motivation – Are You Passionate and Determined?

A drive to succeed is more important than you may think. Belief in yourself, your company, and your success is the first building block to your future castle. A positive attitude, strength of character, and a true love for what you plan to embark upon will give you the steam to push through every obstacle you’ll no doubt encounter on your journey. Entrepreneur notes, while passion alone won’t seal the deal, it’s essential to be truly excited about starting. You’ll need to be your own cheerleader before anyone else joins in. In this case, there is an “I” in “team.”

Marketability – Is Your Business Idea New or Better than What’s Out There?

A novel idea or a newer or better approach to an existing concept or business is part of what will make your potential start-up stand out from the pack. Do your homework and find out if you’ve got something the market is lacking. See if there are existing patents for a product or prototype, and search diligently online to the point of exhaustion. There’s no reason to leap into something you won’t be able to bring to fruition. If you think your idea is gold, then paired with your passion, bring it to life. People don’t realize what they want or need until it’s presented to them. We all got along just fine before cell phones, right?

(adsbygoogle = window.adsbygoogle || []).push({});

Must-Have – Do Friends and Family (even strangers) Like the Concept?

While you may think you’ve got the brains and business sense to make your start-up soar, a little (or a lot) of validation is imperative. You’re going to need clients, customers, and consumers, so get yourself a range of potential users or buyers to confirm that your concept is on point. Ask friends, neighbors, and even people on the street what they think of your idea. Would they buy it or utilize the service? What would they do differently or expand upon? A pre-launch, self-administered market research project will let you know if your idea is interesting to more folks than just yourself. As posted on Entrepreneur, sometimes the vision doesn’t align with what customers want, so make sure there’s a market.

Money – What’s Your Budget Like?

You’re likely going to blow through money like it’s water while launching your start-up, and there’s no guarantee you’ll make it back (plus more) quickly. Talk to a financial advisor to plan intelligently and accordingly, and be realistic. It’s important to do your research as to how much everything from parts, to space, to salaries, to advertising will really cost you. Plus, you’ll need to be sure you’ve protected yourself from dipping into your retirement or other savings so you don’t bleed yourself dry. As Money puts it, a good rule to follow if to limit your investment in a start-up to no more than 30% of your savings. Insurance is smart as well, and Money recommends a general liability policy for your business to protect yourself. With this in mind, make an appointment with your banker and work out a doable plan that will help you launch with enough gas to push through the start-up phase.

(adsbygoogle = window.adsbygoogle || []).push({});

Management – How Are Your Time Execution Skills?

Before you’re able to hire a part- or full-time staff, you’re going to have to wear a lot of hats and juggle more balls than a circus clown. Are you the type of person who can multi-task, yet still get things completed? Are you versatile and knowledgeable about many, if not all facets of your business? Wall Street Journal warns that if you’re not the type of person who can manage numerous roles, entrepreneurship may not be what you’re cut out for. Self-discipline and strong decision-making skills are key as well. You’re the boss now so the motivation comes from within. Entrepreneur suggests looking inside yourself and be honest if you’ve got the skills to do it all (at least at the get-go).

This is only the start, but with affirmative responses to these “5 Ms,” you will better gauge whether or not you’re ready to start up your start up!

string(5829) "
Starting your own business may be your lifelong dream. Big believers in their product or service want to form their own name in the corporate world without being held back by big business or working for someone else.
While faith in one's self and a go-getter attitude is a positive start, there's much more that goes into launching a start-up or small business. A great portion of this comes down to personality type and what you've got to offer. Even the best ideas can fall flat without the perseverance and attitude that gets you past the finish line. 
How can you be sure you're cut out for this venture and ready to roll? Ask yourself these "5 Ms" for a better idea if your goals are actionable, attainable, and as amazing as you think they are.
[shortcode-1-In-Article-Banner-728x60]
Motivation - Are You Passionate and Determined?
A drive to succeed is more important than you may think. Belief in yourself, your company, and your success is the first building block to your future castle. A positive attitude, strength of character, and a true love for what you plan to embark upon will give you the steam to push through every obstacle you'll no doubt encounter on your journey. Entrepreneur notes, while passion alone won't seal the deal, it's essential to be truly excited about starting. You'll need to be your own cheerleader before anyone else joins in. In this case, there is an "I" in "team."
Marketability - Is Your Business Idea New or Better than What's Out There?
A novel idea or a newer or better approach to an existing concept or business is part of what will make your potential start-up stand out from the pack. Do your homework and find out if you've got something the market is lacking. See if there are existing patents for a product or prototype, and search diligently online to the point of exhaustion. There's no reason to leap into something you won't be able to bring to fruition. If you think your idea is gold, then paired with your passion, bring it to life. People don't realize what they want or need until it's presented to them. We all got along just fine before cell phones, right?
 (adsbygoogle = window.adsbygoogle || []).push({}); 
Must-Have - Do Friends and Family (even strangers) Like the Concept?
While you may think you've got the brains and business sense to make your start-up soar, a little (or a lot) of validation is imperative. You're going to need clients, customers, and consumers, so get yourself a range of potential users or buyers to confirm that your concept is on point. Ask friends, neighbors, and even people on the street what they think of your idea. Would they buy it or utilize the service? What would they do differently or expand upon? A pre-launch, self-administered market research project will let you know if your idea is interesting to more folks than just yourself. As posted on Entrepreneur, sometimes the vision doesn't align with what customers want, so make sure there's a market.
Money - What's Your Budget Like?
You're likely going to blow through money like it's water while launching your start-up, and there's no guarantee you'll make it back (plus more) quickly. Talk to a financial advisor to plan intelligently and accordingly, and be realistic. It's important to do your research as to how much everything from parts, to space, to salaries, to advertising will really cost you. Plus, you'll need to be sure you've protected yourself from dipping into your retirement or other savings so you don't bleed yourself dry. As Money puts it, a good rule to follow if to limit your investment in a start-up to no more than 30% of your savings. Insurance is smart as well, and Money recommends a general liability policy for your business to protect yourself. With this in mind, make an appointment with your banker and work out a doable plan that will help you launch with enough gas to push through the start-up phase.
 (adsbygoogle = window.adsbygoogle || []).push({}); 
Management - How Are Your Time Execution Skills?
Before you're able to hire a part- or full-time staff, you're going to have to wear a lot of hats and juggle more balls than a circus clown. Are you the type of person who can multi-task, yet still get things completed? Are you versatile and knowledgeable about many, if not all facets of your business? Wall Street Journal warns that if you're not the type of person who can manage numerous roles, entrepreneurship may not be what you're cut out for. Self-discipline and strong decision-making skills are key as well. You're the boss now so the motivation comes from within. Entrepreneur suggests looking inside yourself and be honest if you've got the skills to do it all (at least at the get-go).
This is only the start, but with affirmative responses to these "5 Ms," you will better gauge whether or not you're ready to start up your start up!
"

You’re powering through your morning. You’re in the zone. Getting so much done. But then you get Slacked with an innocent question: “Gotta moment to discuss the Jefferson thing?” “💯!” you answer instantly and get pulled off-task for 15- 20 minutes. And just before you’ve solved the Jefferson issue, your manager’s supervisor’s EA emails you

If your business offers corporate credit cards or expense accounts to employees, there’s a good chance there is unethical spending going on. 33% of corporate credit card holders admit to blatantly defrauding the companies they work for, and twice that amount confess to making “risky purchases.” But a thread on AskReddit reveals some of the

Despite the fact that late-stage capitalism is an amoral hellhole driven by a borderline religious belief in the sanctity of brands, we would never, ever suggest that anyone should shoplift from big-box stores, or even imply that doing so is morally okay or a victimless crime. But hypothetically, if we were to give any tidbit

The workers who forgo the yoke of traditional employment to strike it out on their own form a vibrant sector of the American economy. From ambitious entrepreneurs to cunning freelancers and everyone in between, self-employed workers say “no” to a punch-the-clock world and enjoy a great deal of freedom in their work. However, that freedom

Though the wave of tech layoffs and the threat of a recession has overshadowed yesteryear’s news of the great recession, everywhere you look, employees are asking for more — and getting it. Though this time of uncertainty could have given employers back the power, it’s still in the hands of the workforce. From Gen-Z’s boundary

Looking for a job? In addition to encountering those annoying never-ending job interviews you may find yourself face-to-face with an artificial intelligence bot. Companies worldwide increasingly use artificial intelligence tools and analytics in employment decision-making – from parsing through resumes and screening candidates to automated assessments and digital interviews. But recent studies claim that AI

In the words of Ferris Bueller: “Life comes at ya fast.” I learned this when, after graduating college, I suddenly had to get my life together and financially support myself. The horror. But I’m also young and fun (I swear!). I want to go out with my friends, follow trends, and buy myself a little

A few years ago I was at Coachella, buying overpriced, under-seasoned food from a vendor who was particularly kind. Par for the course, all of these events are dominated by Square payments that provide the oh-so-convenient option to tip your gracious server. Oftentimes, the transaction is so quick, you’re wondering if you should even tip

We live in a world where most celebrities have multiple business endeavors going besides what made them famous. Well known socialites are no longer just party-goers in ballgowns, but have now taken on the term “influencer” and drape themselves in brand deals before being photographed. And maybe being a public spectacle becomes so uninspiring that

I’ve been thinking a lot about goal setting in the New Year…and not in the cliche resolution way. Not in the way that I get overzealous and aim to save $10,000 in one year, change my entire life around, and find the apartment of my dreams. Not in the way that sets me up for