Before I begin, ask yourself the following 3 questions:

1.) How do I define success?

2.) What are my goals in life?

3.) How do I plan to achieve those goals?

If you can answer those 3 questions definitively; meaning you didn't provide answers like

1.) Success means alot of money,

2.) My goals in life is to be happy and be financially free,

3.) I don't know ...

then you have the foundations of what it takes to be an entrepreneur.

So what characterize an entrepreneur? What make a person think they have what it takes to become an entrepreneur and startup his/her own business? Well there really isn't one definitive trait. However, they have a tendency to be rebels, outsiders, original thinkers, risk takers and break new ground. Entrepreneurs are always on the lookout for new business opportunities and have the guts it needs to start up a business. They have total commitment to what they are doing, which verges on obsession behaviour.

When it comes to starting your own business, the thing that stops most people is money. If you were to ask most adolescents and adults if they would like to be their own boss and have their own businesses, they would answer yes. If you were to ask then, how come you don't have your own business startups? They'll most likely answer "It takes too much time and money". They are not afraid of losing time. They are afraid of losing money. They have time, but they don't have the money. The connotations revolving about entrepreneurship and business startups is that you need alot of money to start and most people are discouraged from the start. They already see losses before they see gains.

So now you ask isn't it true that you need lots of capital for business startups? Well that depends on what kind of business you want to start. But for the most part, I can assure you that it doesn't cost nearly as much as you think it does.

Now let's pause for a second, for those of you that want to "Get-rich quick" or think that money will come to you without you doing anything, stop reading right now. This guide is only for the people that want to start a business but doesn't know how to approach it.

Before you, or anyone can start a business, there are homeworks that must be done. That's right, homeworks. A person that just go out fishing without knowing how to fish is bound to catch nothing. It is similar to starting your own business. You MUST do your homeworks. By homeworks I mean plans, research, and analysis (More on these in later parts). There are couple of questions you must answer:

1.) What kind of business market do you want to enter? Products or Service?

2.) What products or services are you pursuing?

3.) Why did you choose that product/service?

4.) How are you going to procure the product/service?

5.) Is there a market/need for this product/service?

6.) How are you going to deliver these product/service?

These questions must be answered before you can even think about starting a business and setting a price for your product/service or calculating your losses and profits. If you have these questions answered, then you're on your way to start building your business plan. That's right, the plan and not the business ... and you think this would be easy.

Owner of The Rich Jerk Exclusive: Lazy? Broke? Hungry for Money? Owner of Investing Central: Free Investing resources Owner of Business Startups: Everything you need to know to be an entrepreneur