Weve all heard the stories of the cottage industry that grew into an empire but those are the exceptions, not the rule. Whether youre developing software that will revolutionize technology or a catering service that will revolutionize dinner parties, starting your own business may not be as easy as you think. Evaluate your chances for success, and determine what you really need to turn your dream into a reality.

Starting your own business may not be as easy as you think. Evaluate your chances for success, and determine what you really need to turn your dream into a reality. To make the transition, consider the following questions:

• Do you need a license or certificate to do business?
• Do you want to incorporate as a legal entity or operate as a DBA ("Doing Business As")?
• Do you have an idea that needs to be protected?
• Do you have the insurance you need (business, liability, workers' compensation)?
• Have you complied with state and federal regulations regarding the protection of employees?