Do I Have What It Takes To Start A Small Business?

The more I agonize over the possibility of trying to have a baby, the more I think about ways to work from home like starting my own business.  My father made a living from his small business and is now retired so this kind of thing is in my blood.

I’ve got what I think is a pretty good business idea that would allow me to utilize my expertise and contacts from my current profession and I know that I have the drive, determination and “business sense” to be successful at it.  The things that concern me are mostly related to the “how-to’s” of certain parts of business planning and execution how to set a price point.  My business idea is for a service that would be provided to health-care facilities and since there is no business like it (yet) I have no idea how to determine a fair price so that I can figure out if I’d even be able to make a living at this.  The other scary thing is health insurance.  My parents raised us 3 kids with no health insurance what-so-ever.  They were lucky that none of us had much more than a couple of broken bones (I broke my right arm twice as a child).  In fact, I didn’t have proper health insurance until I was grown and working my first “real job”.  That scares the shit out of me, especially with my medical history.

I’m not the type to let all these fears stop me, though.  For me, it’s important to find a business mentor.  Having somebody to bounce ideas off of and somebody who can give me some guidance about business start-up fits my personality well.  So, I’m having lunch with a female entrepreneur that owns a business that provides a service to health-care facilities like mine.  In fact, my organization has a business relationship with her company so I’ve had the pleasure of working with her a lot since April 2008.  I love her personality and the way she handles her business and her customers.  When I first met her I didn’t like her all that much because she didn’t caudal my department like most people do.  She had this I-don’t-give-a-fuck-who-you-are-this-is-my-turf-and-I’m-the-expert-here sort of attitude and I wasn’t use to feeling like people know more than me (I’m arrogant!).  Michele freely shared her story of the history of her business including that she had bought it from her mother who she now mails all her money to.  I instantly felt that itch and even told Michele “you make me want to start my own business”, to which she replied “it’s not all roses, my mother had 3 failed businesses before this one.”  Talk about never giving up!  She had no hesitation in accepting my lunch invitation where I’ll share my idea with her and ask these burning questions that I haven’t been able to find good answers for on the Internet.

  1. Is my business idea viable one?
  2. How could I go about setting a price point for this type of service?
  3. How do you get health insurance with a small business?
  4. What should my first step be?
  5. Will you be my business mentor (is this the kind of thing you out right ask or does it just happen, like falling in love?)

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