financial independence

As discussed previously if you want to make money from business you should have an idea of how you are going to make that money.
It might be that you write up a formal business plan or maybe you might simply give a lot of thought before you start with your idea.
Before you go ahead and jump in the deep end run your plans past other people that you trust that are qualified to speak on the subject.

Where there are no wise suggestions, purposes come to nothing; but by a number of wise guides they are made certain.
The Book of Proverbs (the Bible in Basic English)

Get as much input as you can. Do this at the beginning when you have no idea. Keep doing it while it takes off. When you are a wise old know it all do it twice as much.
Get advice and input, if only as thoughts and feelings because you need to have answers to some basic questions.
What are you going to do?
How are you going to do it?
Where are you going to do it?
With or to whom are you going to do it to?
Why do they want it?
When do they want it?
What if you don't or can't do it?
How long can you afford to not do it or do it only very little?
What if you do much better than that? Can you cope?
Where will the money, materials, man power, and other stuff come from?
What are the signs of success?
What are the signs of failure or a need to reconsider and regroup?
These questions deal with only three things - what you are doing, the facts of doing it and the result of doing it (be that you are a runaway success or total failure).
Both failure and runaway success can kill your baby business so be sure to be ready to face them.
A billion orders for Big Blue Widgets could be as hard to cope with as none.
Harder maybe.
How will you fund the materials for a billion? What if the buyer backs out or worse what if the buyer does not pay for his billion BBW until the month after next and then starts paying you in small instalments?
In business people are not nice and do not have your best interests at heart.
How will you cope with that?
Once you are getting on with it how will you stop yourself loosing hope when the going is tough (because it will be at times)?
The price of success is more than just the money you spend, so take a moment to form a full picture at least in your head. Try to get something down on paper if you want to draw others into your schemes (like the bank manager or an investor).
The more questions you can answer now the less questions you have to face when the sneak up and bite you.
Written by Lord Matt as a guest article.