If you've been unemployed for some time now, or you are just tired of doing the same thing over and over, you could be in the process of starting a new business. If so, be ready to walk an exhilarating, suspenseful, often hair pulling adventure.

Since writing problems down seems to make you understand them better, let's have a look at the difficulties you are about to encounter.

Time management
This is one of the greatest issues you will face when starting a new business. You will either spend all your time on your business, or you cannot keep yourself on track. More than half of businesses fail within the first year because the owner never scheduled work time vs. play time. You do not have to spend every single second improving your business. You must have a life to attend to. Otherwise you will burn yourself out.

Being organized
If you have a knack for being organized then consider yourself lucky. Being disorganized usually means wasting time looking for something through the mess, but it also takes away your concentration. This will lead to the next problem.

A close friend of mine decided to close his shop and concentrate on consulting. It seemed like a great idea. He knew his stuff and had plenty of experience. He also had a really nice home office and no kids or a wife to keep him distracted. Unfortunately, the move seemed better in theory. Why? He had a hard time concentrating without the structure of a typical office environment. Working from home felt like a part-time gig. Rather than being at his desk every day at 9am, he would end up doing other things around the house. Lunch would end up taking two hours. It did not feel serious at all.

If do not consider that your business could go bankrupt - or if you are afraid of failure - go work under someone else. If you are not ready to take big risks, you should not be working for yourself. Risk means taking chances, working on new tactics, making plenty of mistakes and learning from all of them. Read about successful entrepreneurs. You will see that most were failures before they made it - companies that had a hard time succeeding or ideas that did not pan out. It never stopped them from trying again. Call it desire.

I know small business does not have the marketing budgets like their corporate counterparts. However, it should not stop you from not marketing at all. If you do not even try to get your business out there, someone else will take that place, only it will be their business, not yours. There are plenty of marketing tools out there for you to use. Networking is a favorite for all businesses. The cost is free. Your only investment is your time. Go to events where you will meet new people. Use your "elevator pitch" to talk about your company. Hand out business cards. Talk to people. I have brung in plenty of business by starting a conversation with people at social gatherings. You never know who your next customer will be. Other marketing tactics include direct mail/email, newsletters, company website, etc. It's not required to have a massive marketing campaign. It is required to at least try something.

Stay on your toes
Technology has forever changed the way we all conduct business. Data is distributed across the Internet in a blink of an eye. You must make quick decisions. The same technology that makes our lives easier also demands that we work harder. So try to stay updated with what is going on in the industry.

Have fun
Hardship aside, as an entrepreneur, you are the master of your own domain. You are not at the mercy of being downsized and losing your career. And if you end up losing an account here and there, you can look for some more. You can be as busy as you want to be. So love what you are doing. Wake up in the morning knowing that you are doing what you've always dreamed of doing.