Steps to Match Skills, Knowledge with Start-Up Business in New Jersey

Finding the right business idea, of course, can be as difficult as finding the right spouse. But if you have the urge but lack the idea, interviews with experts on entrepreneurship suggest the following steps: Make absolutely sure you want to be an entrepreneur.
1338212_business_man.jpgAs an experienced New Jersey Business Attorney I can tell you, “Simply being tired of working for someone else isn’t reason enough to start your own business.” Likely you’ll work longer hours, do more dirty work, not less, and, for a good while anyway, earn less money. What’s more, most successful entrepreneurs have a burning desire to do something quite specific.
Determine your strengths and weaknesses.
Don’t just trust yourself on this one. Ask former bosses, co-workers, customers and other business associates and tell them to be blunt. You might take an aptitude for personality test, such as the Myers-Briggs Type Indicator.
Recognizing your strengths could require you to let go of a dream. “If you can’t take rejection, get out.” Go work for someone else in a field you’re interested in. This is a low-risk way to learn about an industry and perhaps spot an underserved niche or a product or service that isn’t, but should be, available. But think of it as going to school, so don’t hold out for top pay or an important job. Just find a position from which you can learn as much as possible.
If you do start a business, you’ll need partners or employees with complementary skills.
Find someone who does have an idea, but lacks your particular skills, and become his or her partner. You don’t have to be the idea person to be a success. And expecting to be the dominant person in your first venture might be unrealistic.
Make use of the resources available, many of them free. The Service Corps of Retired Executives, or SCORE, in your area, has a roster of experienced businesspeople willing to offer free advice and counseling to entrepreneurs. The federal Small Business Administration through its Web site and local offices can help, especially with financing advice and technical assistance.
Conventions and seminars also offer quick exposure to an industry you’re curious about. Finally, hire someone to help you with filing the right government forms, it will save you the time of doing research, and may save you money by choosing the best way for your circumstances. To your success!