| How to Help Someone Having a Panic Attack Posted: 13 Jul 2017 05:00 PM PDT Witnessing a friend have a panic attack can be an alarming thing. You feel helpless in what seems like a straightforward situation (but often isn't). To help the episode pass as swiftly as possible, follow these guidelines. EditRecognizing the Situation - Understand what they're going through. People with panic disorder have sudden and repeated attacks of fear that last for several minutes, up to an hour, but rarely over that, because the body simply does not physically have enough energy to panic for that long. Panic attacks are characterized by a fear of disaster or of losing control even when there is no real danger.[1] A panic attack can occur without warning and for no obvious reason. In extreme cases, the symptoms may be accompanied by an acute fear of dying. Although they are quite distressing and can last from 5 minutes to somewhere over an hour, panic attacks are not life-threatening on their own.
 - Panic attacks arouse the body to a peak level of excitement which makes the individual feel not in control of him or herself. The mind is preparing for a false fight or flight mode, forcing the body to take over to help the victim face or run from the perceived danger, real or not.
- The hormones cortisol and adrenaline are released from the adrenal glands into the blood stream, and the process begins -- this forms the heart of a panic attack. The mind cannot distinguish the difference between a real danger from the one that is in your mind. If you believe it, then it is real as far as your mind is concerned. They may act as if their life is in danger, and they feel like it is. Try to put it in perspective; if someone was holding a knife to your throat and saying "I'm going to slit your throat. But I'm going to wait and keep you guessing when I'll decide to do it. It could be any time now."
- There has never been a recorded instance of a person dying of a panic attack.[2] They can only be fatal if accompanied by pre-existing medical conditions, such as asthma, or if extreme behaviors subsequently result (like jumping out of a window).
- Watch for the symptoms. If the person has never experienced a panic attack before, they'll be panicking on two different levels -- the second for not knowing what's going on. If you can pinpoint that they're going through a panic attack, this alleviates half the problem. Symptoms include:[3]
- Palpitations or chest pain
- Speeding up of the heart rate (rapid heartbeat)
- Hyperventilation (over-breathing)
- Trembling
- Dizziness/lightheadedness/feeling faint (this is usually from hyperventilating)
- Tingling/numbness in fingers or toes
- Ringing in the ears or temporary loss or hearing
- Sweating
- Nausea
- Abdominal cramping
- Hot flashes or chills
- Dry mouth
- Difficulty swallowing
- Depersonalization (disconnected feeling)
- Headache
- If this is the first time the individual has experienced this, seek emergency medical attention. When in doubt, it is always best to seek immediate medical attention. This is doubly important if the individual has diabetes, asthma or other medical problems. It is important to note that the signs and symptoms of a panic attack can be similar to those of a heart attack. Do keep this in mind when assessing the situation.
- Find out the cause of the attack. Talk to the individual and determine if he or she is having a panic attack and not another kind of medical emergency (such as a heart or asthma attack) which would require immediate medical attention. If they've experienced it before, they may be able to clue you in to what's going on.
- Many panic attacks don't have a cause or, at the very least, the person panicking isn't consciously aware of what the cause is. Because of this, determining the cause may not be doable. If the person doesn't know why take their word for it and stop asking. Not everything is for a good reason.
EditPutting Them at Ease - Remove the cause or take the individual to a quiet area. The person will probably have an overwhelming desire to leave where they are. To facilitate this but keep them safe, take them to a different area -- preferably one that's open and calm. Don't ever touch a person who's having a panic attack without asking and obtaining definitive permission to do so. In some cases, touching the person without asking can increase the panic and make the situation worse.
- Sometimes a person with panic disorder will already have techniques or medication which they know will help them get through the attack, so ask them if there is anything you can do. They may have a place they'd prefer to be.
- Speak to them in a reassuring but firm manner. Be prepared for the possibility of the individual trying to escape. Even though you're fighting an uphill battle, it is of the utmost importance that you remain calm yourself. Ask the individual to remain still, but never grab, hold, or even gently restrain them; if they want to move around, suggest that they stretch, do jumping jacks, or go with you for a brisk walk.
- If they're at their home, suggest organizing the closet or other vigorous cleaning up as an activity. With their body keyed for fight or flight, directing the energy toward physical objects and a finite, constructive task can help them deal with the physiological effects. The actual accomplishment may change their mood, while a different activity to focus on may help break the anxiety.
- If they're not at home, suggest an activity that can help them focus. This can be something as simple as lifting their arms up and down. Once they start getting tired (or bored with the repetitiveness), their mind will be less focused on the panic.
- Do not dismiss or write off their fears. Saying things like "there's nothing to worry about," or "it's all in your mind," or "you're overreacting" will exacerbate the problem. The fear is very real to them at that moment, and the best you can do is help them cope - minimizing or dismissing the fear in any way can make the panic attack worse. Just say "it's OK" or "You'll be okay" and move onto breathing.
- Emotional threats are real as life and death threats to the body. That's why it's important to take their fears seriously. If their fears are not grounded in reality and they're reacting to the past, providing some specific reality checks can help. "This is Don we're talking about, he never blows up in people's faces over mistakes the way Fred used to. He'll just react the way he always does and probably help. It'll be over soon and he won't see this as a big deal."
- Asking the question in a calm and neutral way "Are you reacting to what's going on right now or to something in the past?" may help the panic attack victim organize his or her thoughts to recognize flashbacks versus immediate danger signals. Listen and accept whatever answer is given - sometimes people who have been in abusive situations before have very strong reactions to real warning signs. Asking questions and letting them sort out what they're responding to is the best way to support them.
- Don't say, "Calm down," or "There's nothing to panic about." Gee, that's genius. They didn't think of that! Patronizing them will just put them on higher alert. What's more, telling them there's nothing to panic about may just remind them how out of touch with reality they are, forcing them to panic more. Instead, try something like, "I understand that you're upset. That's okay. I'm here to help.", or "It will be over soon, I'm here for you. I know you're scared, but you're safe with me."[4]
- It's important for you to look at this as an actual problem, like if their leg were cut severely and bleeding heavily. While you can't see what's actually going on, something very scary for them is. The situation is real from their side of the fence. Treating it as such is the only way you can help.
- Don't pressure the individual. This is not the time to force the individual to come up with answers or to do things that will make their anxiety worse. Minimize the stress levels by being a calming influence and let them get into a relaxed state. Don't insist they figure out what caused their attack as this will just make it worse.
- Listen supportively if they spontaneously try to sort out what it is they're reacting to. Don't judge, just listen and let them talk.
- Encourage them to try to control breathing. Regaining control of their breathing will help eliminate the symptoms and will help calm them down. Many people take short, rapid breaths when they're panicking, and some people hold their breath. This reduces the oxygen intake which will cause the heart to race. Use one of the following techniques to help bring their breathing back to normal:
 - Try counting breaths. One way of helping them to do this is to ask the individual to breathe in and out on your count. Begin by counting aloud, encouraging the individual to breathe in for 2 and then out for 2, gradually increase the count to 4 and then 6 if possible until their breathing has slowed down and is regulated.
- Get them to breathe into a paper bag. If the individual is receptive, offer a paper bag. But be aware that for some people, the paper bag itself may be a trigger of fear, especially if they've had negative experiences with being pushed into it during previous panic attacks.
- Since this is done to prevent hyperventilation, it may not be necessary if you're dealing with someone who holds their breath or slows their breathing when they panic. If it is necessary, however, this should be done by alternating around 10 breaths into and out of the bag, followed by breathing without a bag for 15 seconds. It is important not to overdo the bag breathing in case carbon dioxide levels rise too high and oxygen levels fall too low, causing other more serious medical problems.
- Get them to breathe in through the nose and out through the mouth, making the exhale in a blowing fashion like blowing up a balloon. Do this with them.
- Keep them cool. Many panic attacks can be accompanied by sensations of warmth, especially around the neck and face. A cold object, ideally a wet washcloth, can often help minimize this symptom and aide in reducing the severity of the attack.
- Don't leave them alone. Stay with them until they have recovered from the attack. Never leave someone who is struggling to breathe. A person with a panic attack may seem like they're being unfriendly or rude, but understand what they are going through and wait until they're back to normal. Ask them what has worked in the past, and if and when they have taken their meds.
- Even if you don't feel all that helpful, know that you're a sense of distraction for them. If they were left alone, all they would have is themselves and their thoughts. You just being there is helpful to keep them grounded in the real world. Being alone while having a panic attack is terrifying. But, if in a public place, make sure people stay a good distance away. They may mean well, but will only make it worse.
- Wait it out. Though it may seem like forever (even to you -- especially to them), the episode will pass. General panic attacks tend to peak at around 10 minutes and get better from there on a slow and steady decline.[5]
- However, smaller panic attacks tend to last longer. That being said, the person will be better at handling them, so the length of time is less of an issue.[5]
EditTackling Severe Panic Attacks - Seek medical help. If the symptoms do not subside within a few hours, consider seeking urgent medical advice. Though it's not a life or death situation, make the call, even if only for advice. The ER doctor most likely will give the patient Valium or Xanax and possibly a Beta-Blocker like Atenolol to calm the heart and the adrenaline in the body.
- If this is the first time he or she has had a panic attack, they may want to seek medical attention because they are frightened of what is happening to them. If they've had panic attacks in the past, however, they may know that getting emergency care will worsen their state. Ask them. This decision will ultimately depend on the individual's experience and your interactions with him or her.
- Help the person find therapy. Panic attacks are a form of anxiety that should be treated by a medical professional. A good therapist should be able to pinpoint the panic attack triggers or, at the very least, help the individual get a better grasp on the physiological side of the situation. If they do begin it, allow them to proceed at their own pace.
- Let them know that therapy is not for kooks. It is a legitimate form of help that millions of people are a part of. What's more, a therapist may prescribe a medication that halts the problem in its tracks. The medication may not stop the attacks completely, but will surely lower the amount and frequency of them.
- Take care of yourself. You may feel incredibly guilty that you are the one freaking out during a friend's panic attack, but this is normal. Know that being alarmed and a bit scared is a healthy response to witnessing one of these episodes. If it'd help, ask the person if you can talk about it later, so you can handle it better in the future.
- If they have a phobia and it triggered the attack, take them away from the trigger.
- Take them outside if their panic attack started in a crowded or loud place. They need to relax and get out in the open.
- If they have a pet nearby, research has shown that petting a dog lowers blood pressure.
- If someone close to you has a panic disorder and the panic attacks are frequent, it may strain your relationship. How you deal with the effects of panic disorder on your relationship is beyond the scope of this article, but it should be addressed with professional help.
- Less frequent symptoms include:
- Disturbing or negative thoughts
- Racing thoughts
- Feeling of unreality
- Feeling of impending doom
- Feeling of impending death
- Blotchiness
- If the person wants to be alone then take a step back but don't leave them by themselves
- Ask them to visualize something beautiful like the ocean or a green meadow to calm their mind.
- If a paper bag is not available, try having the person use their hands cupped together. Breathe into the small hole between the thumbs.
- Don't hesitate to call the emergency services for help, this is their job!
- Suggest focusing the brain on colors, patterns and counting. The brain cannot focus on that as well as the attack. Also, if this is a repeat episode, assure the person they will be okay. Have them repeat, "I am going to be okay."
- Encourage them to use the restroom. Relieving oneself helps toxins pass out of the body and will also help them to concentrate on something else.
- Getting into child's pose (the yoga position) helps calm down.
- Try not to leave the person, they will feel lonely and make it worse.
- Consider taking them outside to get some fresh air once they are feeling better but don't let them run away without addressing this issue.
- During a panic attack, an asthmatic person may feel that they need their inhaler because of chest tightness and shortness of breath. Make sure they are really having a panic attack and not an asthma attack because taking an inhaler when not needed can worsen a panic attack, as the medicine is meant to speed up the heart rate.
- Check that the cause of poor breathing is not asthma, as asthma is an entirely different condition and requires different treatments.
- Breathing into a paper bag causes the inhalation of carbon dioxide, which can result in respiratory acidosis. Respiratory acidosis is a dangerous condition which disrupts the binding of oxygen to hemoglobin (blood). Any such attempts to control panic attacks using a paper bag should be closely monitored, or not used at all.
- Panic attacks, especially to someone who has never had one before, often seem like heart attacks. But heart attacks can be deadly, and if there's any question as to which one it is, it's best to call emergency services.
- It should be noted that many asthma sufferers have panic attacks. It is critical that these people re-establish control of their breathing. If a person fails to restore their breathing to a normal pattern of respiration and they do not seek emergency medical attention promptly, the resulting asthma attack can have dire consequences and in some cases may lead to death.
- If using the paper bag method, the bag should only be placed around the nose and mouth sufficiently to ensure the expired breath is re-breathed. Do not ever place the bag over the head and plastic bags should never be used.
- Although most panic attacks are not fatal, if a panic attack is because of an underlying reason such as Tachycardia or Arrhythmia, or asthma, and/or the physiological processes of the autonomic nervous system not in harmony then death could occur. Uncontrolled Tachycardia can lead to death.
EditThings You'll Need - Paper bag (optional)
- Wet cloth
EditRelated wikiHows EditSources and Citations
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| How to Pack to Get Through Airport Security Fast Posted: 13 Jul 2017 09:00 AM PDT Airport security can take a long time to move through, especially if your bag is disorganized or improperly packed. To avoid bag searches and maximize efficiency, carefully consider what you do and do not need. When packing, place the objects least likely to be searched on the bottom with laptops and liquids near the top. Investing in a good bag can also help you move quickly through security. EditBringing What You Need - Check a bag. A checked bag will allow you to bring more with you, and you will have to carry less in your carry-on. Put as much as you can in the checked bag instead of your carry-on. The less you bring in your carry-on, the less likely you are to be pulled for a bag search.[1]
- Clothing, toiletries, and souvenirs can all be packed in a checked-bag.
- Pack books in a checked bag unless you are planning on reading them on the plane.
- Electronics, like cameras and laptops, and valuable possessions, like jewelry, should always be packed in a carry-on.
- Pack only what you need. You should only put necessities in your carry-on. If you have too much in the bag, the security agents may not be able to use the X-ray properly, and it can increase your chances of being stopped for a bag search.[2] Things you need may include:
- Phone
- Laptop/Tablet
- Camera
- Chargers
- Magazine or book for the plane
- Medication
- Food or milk for young children
- Extra set of clothing in case your checked bag is lost
- Lay out what you are packing. Before you pack your carry-on, lay out everything that you are planning to bring. You can do this on a bed, desk, or table. This will allow you to see if you are bringing too much, and it will help you organize your belongings in the most efficient fashion. It can also help you notice if you forgot anything.
- When laying things out, keep similar things together. For example, stack all of your clothes together while placing any chargers with their appropriate electronics.
- Make sure that you have your ID, passport (if travelling internationally), and ticket ready to go.
- Double-check for prohibited items. Some objects can only be checked on an airplane while others are prohibited entirely. Always double-check that you are not bringing these items onto the plane. If you are caught with one of them, you may be delayed.
- Bleach, lighter fluid, gasoline, aerosol cans, or any other flammable or explosive material are all forbidden from planes.
- Weapons (like guns, Tasers, and knives), sporting equipment (like baseball bats, golf clubs, or ski poles), and electronic cigarettes must all be placed in a checked bag.[3]
- Avoid large objects. Big, oddly shaped items are not technically prohibited, but they can get your bag pulled from the x-ray for a manual search. If you must bring items like this, pack them in a checked bag, or remove them before going through security.[4] Some things you may want to watch out for include:
- Large electronics, like Xboxes, portable DVD players, or CPAP machines
- Bulky books, manuals, or dictionaries
- Large crystals like geodes
- Dense metallic objects
EditArranging Your Luggage - Pack clothing on the bottom. If you are packing clothing in your carry-on, you should fold or roll each item. Place clothing on the bottom of your bag. If you have any other items that you will not need until you land, place them with the clothing.[5]
- Put your liquids in a plastic bag. Even if your local airport offers plastic bags, you should pack your own liquids ahead of time. Find a one-quart clear plastic bag. Containers for liquids must be no larger than 3.4 ounces or 100 ml, and they must fit into the plastic bag.[6]
- If the containers are larger than 3.4 ounces, they must be placed in a checked bag, even if the amount of liquid inside is less than that amount.
- Instead of buying travel sized versions of your toiletries, you can purchase reusable travel-sized bottles. Fill these up at home with your favorite shampoo, conditioner, soap, and other toiletries.
- Place electronics and liquids on top. Laptops and liquids must be removed when going through security. To remove these as quickly as possible, place these items at the top of your bag. Make sure that they are easy to access so that you can pull them out quickly.[7]
- Stick documents and money in the outside pockets. You will need to have your documents and wallet handy. They cannot be placed in your pockets as you go through security. Put your wallet and documents in an outer pocket of your luggage. You can pull out your ID and ticket when you need it to go through security.[8]
- If you are bringing a purse or briefcase as an extra personal item, you can put your ID and ticket in there, but make sure that you can pull it out quickly. You do not want to have to rummage through your bag to find your ticket.
- Organize everything neatly. Well-organized bags allow security to look through your bag quickly on the x-ray. When placing items in your bag, make sure that they are neatly stacked and arranged.[9]
- Clothing should be folded. You can buy packing cubes to help keep clothing from crumpling in your bag.
- Wind up chargers, and stick them next to the electronics.
- Books should be stacked together.
- Large electronics such as laptops must be removed before being placed in the x-ray. If you place the electronics near the top of your bag, you can quickly remove them without messing up the rest of your luggage.
EditChoosing the Right Bag - Measure the bag. Airlines have specific regulations for how large your carry-on bag can be. If your bag is too big, it may be stopped at security or at the gate. Check with your airline to see what their size limit is, and measure your bag to make sure it will fit.
- While each airline may have its own regulations, most limit you to a piece of luggage that is 45 linear inches or about 115 linear centimeters. This means that the total height, width, and length of the bag equals either 45 inches or 115 centimeters.[10]
- You should always measure a bag before buying. Just because the label says that it is carry-on compliant doesn't mean that it is.[11]
- Look for a TSA-compliant laptop bag. A TSA-compliant laptop bag should have a separate laptop compartment. If you put the laptop in this sleeve, you will not have to remove it when going through the X-ray. Nothing else can be put in this compartment. The computer's mouse and charger must be kept in a different pocket.[12]
- Bring a small personal item. Most airlines will allow you bring on a small personal item with your carry-on. These can give you extra space to pack. If they are large enough, you can put your liquids, documents, wallet, and laptop in this personal item, and keep items that do not need to be searched in your larger carry-on bag. Common personal items include:
- Purse
- Laptop bag
- Briefcase
- In the US, you can apply for TSA Pre-Check. If approved, you can move through security in a special lane without removing your liquids or electronics.
- Always double-check that you have your ID or passport with you before you leave for the airport.
- Do not wear jewelry or other metal objects through security. Wearing slip-on shoes can also help reduce the amount of time you take when going through.
- There is no guarantee that you will not be pulled for a random bag search while going through airport security. Make sure you arrive with plenty of time before your flight.
- Do not attempt to sneak sharp or flammable items onto the plane.
EditSources and Citations
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| How to Evaluate Your Business Idea Posted: 13 Jul 2017 01:00 AM PDT Are you tired of working for an hourly wage and want to be your own boss? Do you believe that you have a creative and clever idea for a product or service that is not currently being served by any existing business? You may just have an idea for a successful new business. Before you start spending your imaginary millions of dollars, however, you need to evaluate your business idea very critically and completely. You need to determine who you will serve and what need exists for your new business idea. You also need to examine a wide range of financial issues. EditIdentifying the Need for Your Business - Review your mission statement. A successful business should base itself on a clearly worded mission statement. A mission statement is generally brief, no more than one or two sentences, that clearly states the purpose of the business. If you have a strong business idea, then your mission statement should reflect the following:[1]
- Who your company is. You should explain what you stand for and why you do what you do.
- Who your targeted customers are and what you have to offer them.
- The problems or needs that your company serves.
- The kind of work environment that you support for your employees.
- Examine your customer base. After you come up with an idea for a business, you then need to consider and who will make use of the services or products you intend to provide. It is not enough just to have an idea for a business. You need to know that your business will have customers, and you need to be able to identify them.[2]
- One way to clarify your customer base is to conduct needs surveys. You might hire a professional market analyst to conduct a widespread survey, either online or by mail. Or you can choose a much less costly route and conduct some oral surveys yourself, just by approaching people at a mall, grocery store or train depot. Wherever people tend to congregate, you might ask some pointed questions like, "If there were a new store offering customized video games, is that something you would buy?"
- After conducting a market survey, review the results and reconsider the strength of your business idea. If your survey results do not show that a market exists to support your business, you may need to revise your idea.
- Beware of similarity to existing businesses. For the best results, your business idea should be something new, creative or original. If it's a familiar product, maybe you have defined a new way to provide customer support. Or maybe you have a new product that is an improvement over anything that is currently available. Identify what makes your business unique, and then plan to focus on that in your marketing.[3]
- Evaluate your location needs. For some business types, the location may not be important. If you provide a professional service to other companies, for instance, you might be able to do that from anywhere. On the other hand, most restaurants or retail sales stores will rely heavily on customer access and visibility.[4]
- You may not need to develop something completely new, if you find a location where the need is strong. For example, franchises work by repeating proven business in new locations. If a certain neighborhood does not yet have a Starbucks, for example, you might move in with that proven franchise. Or move in with your own style of a coffee house, if you think the location needs it.
EditConducting a Market Analysis - Identify your potential customer base. A good market analysis helps you review the strength of your business by examining your potential customer base. You should examine not only those people who currently use the product or service in question but also a wider group of those people you might be able to reach.[5]
- When you define your customer base for the market analysis, you should be as open-minded as possible. Expand your view of who your business might reach. Use the market analysis to help identify advertising needs.
- For example, suppose you have an idea for some new athletic gear. Your first thoughts for your customers might be teens or young, active adults. However, you should expand your thinking and consider how you might market to older customers and encourage them to exercise more.
- Analyze the trend of the market. You need to examine whether the market for your product or service is increasing, decreasing or resting stable. Look at sales or contracts of other similar companies over the past six to twelve months. Their results can provide some indication of what you may expect.[6]
- When evaluating your new business idea, you should discount the results that you review from other companies. Expect that your new business will have startup costs and other expenses that will make your results less positive than those of an existing company.
- Visit the local chamber of commerce. The chamber of commerce has resources to help you evaluate the potential strength of your business. You should be able to get information about the local markets, population trends up or down, age groups and demographics, and contacts in similar business types.[7]
- For example, your local chamber of commerce may have periodic networking meetings of local business owners. You could use such meetings to talk with other people in similar businesses, learn about the community, and get some insights into how your business may fare. Business does imply competition, but you may also find a great deal of support from people who are not in direct competition with your new idea.
- Review available government statistics. You can get information about your potential customer base from census statistics, labor reports and other government sources. A good source for this information is www.census.gov. This source combines information from a variety of government agencies. You can search based on your location or chosen demographics.[8]
- At the Census Bureau website, for example, you can find tables of data specifically designed to help U.S. businesses, including data about birth and death rates, employment and unemployment, and other important figures.
EditForecasting the Financial Success - Analyze the market share. As part of your market analysis, you need to measure the market share. Consider the total sales, in your field, and which companies are serving the current need. Do you expect to take customers away from those existing businesses? If so, how will you do that? On the other hand, if you are starting something completely fresh, then you maybe creating your own market share.[9]
- You can find information about the current market and sales of other companies by searching corporate records at the secretary of state's office. These are public documents. You may be able to access them online, or you may need to make a request in person.
- List your start-up costs. You need to consider what materials and equipment you need for your new business to get started. If you want to open a pizza shop, you will need to buy or lease cooking equipment, ovens, fryers and other similar tools. If you are providing a business service, you will need furniture, copiers, printers, computers and so on. Imagine a blank, empty room, and write down everything you need to make it look like your dream business.
- Analyze your real estate expenses. You need to account for rent or purchase costs of your business site. Do you plan to rent a store front location, or will you operate a business out of your home? The variety of location will lead to different costs. In conducting this sort of analysis, you may find certain limitations that lead you in new directions with your business idea.
- Account for supplies and inventory. As your business progresses, you will need to keep supplying the materials to keep it running. If you have a restaurant, you will need to determine the costs of the food supplies. If you want to run a retail store, you will have to consider the costs of the inventory that you wish to sell. These costs will necessarily drive your selling prices. As you evaluate your business idea, you need to know where your supplies will be coming from and how they will control your sales.
- Examine your need for employees. As you turn your general idea for a new business into more of a reality, you need to assess your need for employees. How many do you need? What will they cost? Keep in mind salaries as well as benefits that may be expected.
- Consider the pros and cons of investors. Unless you have a supply of disposable cash that you can use for the business, you will likely need a funding source. You could seek business loans, but then you will be responsible for repaying those. An alternative is to seek out financial investors. With investors, however, you may be giving up some portion of control over the company.[10]
EditMeasuring Your Personal Involvement - Choose something you love. If your business is going to succeed, you need to plan to invest a great deal of time (and probably money) into it. This must be something that you truly love and will commit to wholeheartedly.
- The National Federation of Independent Businesses (NFIB) estimates that only 40% of all small businesses are profitable and another 30% merely break even. Realizing this, you need to be ready to devote yourself completely to the business.[11]
- Decide the level of time you want to invest. Some new businesses may just be financial investments, while others may represent a whole new way of life for you. You need to consider how personally invested you want to be. Will the business be one that you intend to run by yourself, or do you want to provide the funding (and the idea) and let someone else do the work?[12]
- If you plan to do the work, then your financial investment may be lower, but your time commitment will be greater. You need to decide for yourself which is more important to you.
- Consider the difficulty of implementing your idea. Loving your idea is not going to be enough. You need to think very practically about the actual implementation and the problems you may face. It is natural to focus on the good things about your idea and to dream about the successes that may come. However, when you are evaluating a new business idea, you need to focus more on the possible negatives.[13]
- In particular, evaluate the costs, the regulatory requirements, employment and staffing issues, marketing and shipping. In short, you should try to brainstorm everything that could go wrong and develop a response or a plan.
- Be critical of the skillset required. Focus on your strengths, and identify your weaknesses. By noting your own personal strengths and weaknesses, you can evaluate some of the hiring needs you will face.[14]
- For example, if you have a creative idea for a new theme restaurant that you think will succeed, it might be a problem if you are not a good cook. You may still be able to run that restaurant, for example, but realize that you will have to hire a reliable and trustworthy chef to help you.
EditSources and Citations
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