Illinois Small
Business Development Center
at Illinois Valley Community College
Entrepreneurship
An entrepreneur is someone who organizes, operates
and assumes the risk of a business venture. There is no way to eliminate all the risks
associated with starting a small business. However, you can improve
your chances of success with good planning and preparation. A good
starting place is to evaluate your strengths and weaknesses as the
owner and manager of a small business. Carefully consider each of
the following questions.
Are you a self-starter?
It will be up to you to develop projects, organize your time, prioritize tasks, manage employees and follow through on details.
How well do you get along with different personalities?
Business owners need to develop working relationships with a variety of people including customers, vendors, staff members, bankers, attorneys, accountants and consultants. Are you able to professionally handle demanding customers, unreliable vendors or disgruntled staff members?
Are you an effective decision maker?
Small business ownership can be challenging, fun and exciting. Being able to make solid, practical and fiscally responsible decisions, sometimes in a short amount of time, is imperative to a successful business.
Are you a hard worker?
The idea of being your own boss is appealing to many; however small business owners typically work 12 to 16 hour days, six or seven days per week.
How well do you plan and organize?
Good organization of finances, financial reports, inventory, staff schedules, delivery schedules and production is necessary for a successful business. Research indicates that many business fail due to poor planning and organization.
Is your drive strong enough to maintain your motivations?
Running a business can be stressful and wear you down. Some business owners feel "burned out" by having to carry all the responsibility on their shoulders. Strong motivation to make the business succeed will help you survive during slow times as well as those periods of great stress.
How will the business affect you and your family?
The first few years of a business start up can be hard on your personal and family life. The strain of an unsupportive spouse may be hard to balance against the demands of starting a business. There also may be financial difficulties until the business begins to thrive, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk.
Here are some links to help you on your way!
Illinois SBDC Network Needs Assessment Survey
Illinois Department of Commerce & Economic Opportunity
U.S. Small Business
Administration
Buy Illinois Website
The Buy Illinois Network Web site is an important tool that will help Illinois businesses market their goods and services online. The Web site, Buy Illinois Network helps consumers and purchasers locate vendors and producers throughout the state, allowing Illinois businesses to sell their products and services to a larger audience. The Web site is a component of Gov. Blagojevich's "Buy Illinois" initiative to increase opportunities for Illinois small and medium-sized businesses to more effectively sell their goods and services. The Illinois Department of Commerce and Economic Opportunity (DCEO) developed the Web site and it is free of charge for registering companies.
Sell2
Illinois Website
State of Illinois, Sell 2 Illinois is one Web site that has all of the links to the various procurement Web sites and the Small Business Set-Aside Program and Business Enterprise Program Web sites.
Funded in part through a cooperative agreement with the U.S. Small Business Administration; In cooperation with the Upper Illinois River Valley Community Development Corporation and Illinois Valley Community College
