Money isn't the whole story, at least for most people. There's a certain satisfaction in "doing it yourself" that may not be quantifiable, but which is nevertheless important. Typical reasons that people choose to start a business include:

Obviously, you want your business to be a success. But how you define success depends on a number of personal factors. Assuming you've been in the work force for a while, you know what kind of lifestyle you can afford on your current income. If you're like most people, you'd probably like to earn more. Many people feel that self-employment is the way to do it.

Most people look forward to a time when they can relax and enjoy themselves without the need to work. The chance to do just what you want, when you want to do it, is a strong motivator. Admittedly, some people still choose to work because they want to work—they enjoy it. In fact, lots of successful small business owners keep working into their 70s and 80s. However, the vast majority of people look forward to retirement. Many strive to make it happen sooner rather than later.

Goals are important because they will affect just about everything you do as you plan and operate your business. Goals are not just the destination you're driving toward, they're also the painted white lines that keep you on the road.

Why is it that you want to start a small business? Money? Fame? Personal freedom? Ego gratification? Retirement income? Inability to get rehired or retrained? Discomfort with larger organizations? If someone were to ask you why you're going into business for yourself, what would you say?

Owning a small business is not just another job. It's a totally different lifestyle. You have to ask yourself whether you're ready for a complete commitment to the success of your business. Just as importantly, you have to ask your partner, if you're in a relationship, whether he or she is completely committed.

In the U.S., it's estimated that only about 30 percent of all startups are still in business after five years. The better you prepare yourself and understand the challenges ahead of you, the more likely it is that you'll be one of the survivors.

If you're currently employed, you have first-hand knowledge of what it's like to be an employee. If you think going into business for yourself will mostly mean doing the same thing, but for yourself, you're in for a surprise. Small business owners are responsible for the entire business, which involves a lot more than just providing goods or services. It's likely that all the administrative and managerial duties currently performed by your employer will fall on you.

Many of us hear the Siren song of small business. Complete freedom. Unlimited opportunity. Dreams realized. But of those who answer it, most don't succeed. Why? What separates those who succeed from those who fail?

Starting a small business takes a lot of courage. But, as they say, courage doesn't pay the bills. To be successful — to stay in business — you need more than courage. You need a combination of hard work, skill, perseverance, and good old-fashioned luck.