Though he is currently the Director of New Business Development at Wallis Printing, Sanders Wallis harbors ambitions of starting his own business at some point in the future. Preparation is key in this venture and there are a number of tasks that need to be completed before a new company can experience a successful launch. These are just a few of them.

The best way to get a feel for the challenges that business owners must face is to speak to people who are already dealing with them. Try to get in touch with as many small business owners as you can to discover what they had to deal with in their own efforts and, as importantly, to get a sense of what their day-to-day working lives actually entail.

Where you open your business is as important as the products and services it provides. If you try to break into an area where there is no demand for your product you will face an uphill battle when it comes to generating awareness and interest. Additionally, paying no attention to local rivals means you will find it difficult to penetrate a market that is already being satisfied by more established companies.

Why do you want to start a business? You must be able to answer this question as the work will place great demands on your time and resources. If you can’t answer, you may find it difficult to attract investment and to maintain your enthusiasm.Sanders Wallis is an experienced business professional.