For years I dreamed of owning and running a business. I guess what attracted me were the status symbols: the power, flexibility and wealth that seemed to belong to every business owner as of right. Of course I knew this was illusory, as after working in a bank for 21 years I had seen the other side – up close and personal. I knew of the sleepless nights, the tears, the despair, the hassles of stock supply, the dramas with staff and the rock bottom of bankruptcy and mortgagee sales by the banks acting to recover their lending. But the purpose of this book is not to dwell on the exhilaration of the peaks of business ownership or the despair of the depths, as the vast majority of businesses in Australasia are well run, profitable and providing enjoyment and satisfaction to the owners. Instead, I want to focus on the overview of the questions you should be asking yourself.