● Does the individual truly want to be responsible for a business?
● What product or service should be the basis of the business?
● What is the market, and where should it be located?
● Is the potential of the business enough to provide a living wage for its employees and the owner?
● How can a person raise the capital to get started?
● Should an individual work full or part time to start a new business?
Should the person start alone or with partners? Answers to these questions are not empirically right or wrong. Rather, the answers will be based on each entrepreneur's judgment. An entrepreneur gathers as much information and advice as possible before making these and other crucial decisions.
The entrepreneur's challenge is to balance decisiveness with caution – to be a person of a…