Pre-Start-Up Checklist

The other day, I was talking to someone who is planning on starting a business in the next several months. He was very fired up about his idea and wanted some advice-two very good indications that he's on the right track in starting his business. Having a great idea that you're excited about and seeking counsel are probably the most important elements of starting successfully, so I have no doubt things will go well for this entrepreneur-to-be.

At the same time, I want to stress that your first "great idea" isn't always your greatest. It's so important to be excited about starting a business-that excitement is what will carry you through those dark days, the days of cash-flow blues and empty coffers. But it's equally important to do adequate research to ensure your idea really is worthy of becoming a business. There's nothing worse than putting a lot of time and money into something that ends up being, well, a waste of time.