By Montserrat

This series of articles are meant to give some guidance to the Latina Entrepreneur on her road to owning her own business.

Back from 4^th of July weekend and fully recovered, I wanted to begin this column by saying that there are oceans of information out there for all of you who are considering, working towards or actually owning their own business. I will try to cover as much material as possible through this series of articles.

This week we will ask ourselves a key question about owning our business: Is entrepreneurship for you? This is extremely important. When we seriously consider a change in our lives, we must not simply “jump the boat” and run amuck in a world full of chances. Chances are that we will be at the very least: confused.

So, is entrepreneurship for you? How can we answer that question?

The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns. On their website (www.sba.gov) we find the following string of questions that will open your eyes to the reality and the responsibility of owning your own business. But please, please… do not feel discouraged. This agency will always help you keep your feet on the ground, for the mind will fly to the heavens and beyond, but reality is different. Yet, if we can conquer reality, the rest is downhill.

Now let us see these questions, and remember to answer them as honestly as you possibly can. These answers are for you, and only you know how accurate your responses will be.

• Are you a self-starter? Can you begin projects on your own, without having anyone push you around to get things done?
• How well do you get along with different personalities? Not everyone is a bowl of strawberries. You will have to handle a variety of people including customers, vendors, staff, bankers, etc.
• How good are you at making decisions? Small business owners are required to make decisions constantly - often quickly, independently, and under pressure. This is you, working for you, through you.
• Do you have the physical and emotional stamina to run a business? Well, historically this has never been an issue for Latinas. We are empowered by our heritage.
• How well do you plan and organize? Good organization ­ of financial, inventory, schedules, and production ­can help you avoid many pitfalls.
• Is your drive strong enough? Running a business can wear you down emotionally. Strong motivation will help you survive slowdowns and periods of burnout.
• How will the business affect your family? The first few years of business start­up can be hard on family life. It's important for family members to know what to expect and for you to be able to trust that they will support you during this time. There also may be financial difficulties until the business becomes profitable, which could take months or years. You may have to adjust to a lower standard of living or put family assets at risk in the short-term.

Now go and dry yourself from this bucket of cold water, but think about this. You are not reinventing the wheel. You only have to learn how to use what has been proven already. Ponder on these questions for a while and next week we will take one more step closer to our final goal.

See you then!