For the beginning entrepreneur, choosing that first business can be a bit daunting. Whether it’s an internet home based operation or a bricks and mortar plan, it’s vital to have a beginning business checklist that lists the essentials for beginning a business.

One of the main reasons why new businesses never get off the ground or fail within their first two years, is because of a lack of pre-planning and goal setting.

The first consideration that must be looked at and embraced is exactly WHAT kind of business you are going to get into, and why. So many people pick a business or franchise solely on what they’ve heard in promises for a large income pay off. If money is your only reason for picking a certain business, you will probably crash and burn within the first six months. Pick a business that you feel comfortable with. Don’t become a carpenter if the thought of using a hammer and saw scares the daylights out of you. Don’t buy into a pest control franchise if you’re squeamish about bugs and mice. You need to find that special match up between your own strengths and enjoyments and what will also yield an income. There is no get rich business. Success takes time to build, and if you’re going to invest the sweat, you should be investing it in something you don’t have to talk yourself into getting up to, each morning.

Once you’ve picked your business, decide on the investment you’re comfortable with, and then do your homework to see if that’s a realistic dollar amount. If it is, that’s great. If not, are you willing to go higher? If your comfort level starts screaming at you, you may want to reconsider your choice. Every business start up holds risks. There is no guarantee. You can stack the odds in your favor, to a certain degree, but it’s still a gamble. If you’re not prepared to accept the gamble and the possible loss, then you may want to give this a good second thought.

Do your homework and your due diligence as to who you wish to affiliate yourself with. Going it alone can be a daunting challenge. If you opt for a franchise or to buy into an internet opportunity, make sure you do as much objective research as is possible to learn about the company, the industry, the support, the training, and all other questions you have, regarding this endeavor. Don’t be afraid to ask those tough questions. Even though you are excited and eager to move ahead, always look to find possible reasons NOT to partner up with a certain business. Remember, any business opportunity that is being sold to you, is going to always spotlight and emphasize the great benefits. Find out what the not-so-great aspects are, and then weigh the WHOLE PICTURE, before handing over your hard earned money.