Dear John, When starting your business there are several thing that you will have to examine. The first thing you must do is make a decision on what product or service you will provide. Ask yourself a few questions. Is the product or service that I am offering beneficial to the consumer’s livelihood? Will the product or service that I am offering be viewed as a need or a want? Is this product or service innovative enough to compete with my competitors? While going through this process keep in mind that you will have to decide what market you want to target and sell in. Also be mindful the strategy you will take to sell your product or service . Another step when starting your business is to raise or have enough capital to get the business running. The financial status of your business is the catalyst to your success. It is important to understand how much capital your business will need to operate. Having the correct calculation is vital and because the margin of error is small, miscalculations can be a big issue that will be to deal with later once the business is up and running. In order to avoid a financial crisis, determine your break-even point for your product or service and use a cash budget. These tools will give you the information you need to be successful with your capital. John, don’t be afraid of risk taking because that is a part of entrepreneurship. Understand that businesses fail for many reasons. Those reasons could include the acceptance of a new product, poor business strategy with the lack of skilled leadership, and unsatisfied customers. It is important to carefully think your idea out. Go through as many scenarios’ as you possible can and if you have the chance, try to survey the area where your business will be located. Avoid being to zealous or eager in your effort to start the business. In the long run being realistic and careful will