Your approach

 If you are not yet in business and are reading this article, you are most likely imagining yourself to be the proprietor of a successful business. But to get to that situation you need physically and mentally capable of following through. You also need understand what you are getting yourself into, not just the rewards but also the risks involved. Remember that you will be the driving force behind this, nobody else will. So ask yourself two key questions: why are you going into business, what do you expect to achieve?

Personal Strengths

Here are some questions that should help you identify your personal strengths and weaknesses:
How do you cope in a crisis?
Do you have initiative?
Are you good at problem solving?
Can you live happy on hope or do you need the security of a nine-to-five job?
Can you work entirely alone?
Do you give up on difficult or arduous tasks?
How good is your judgement?
Will you be prepared to sell your product or idea?
Can you multitask?

You need to think about if you are going to get any support whether it is from your family or from someone else. You also need to asses how committed you are to this project. Potential financial risk is something you need to consider carefully. If you don not have any assets, that is to say some ready cash or some money tied up in a house, valuables, or a usable insurance policy for insurance, you will have enormous problems in raising money to launch your business. So remember before jumping into the deep end you should bear in mind the risks and make sure you plan thoroughly.