Sometimes would-be New Jersey entrepreneurs agonize over the decision whether to leave a secure job and launch a new business. Often the dilemma is the worry that the rewards will not be worth the risk of trying something unknown. Knowing that NJ business insurance is there as protection from some potential disasters only serves to confuse the issue more; we’d like to offer a suggestion that might help someone who is considering starting a new business.

Try a thorough analysis of the costs that your business might have to pay, and the income that your business might earn. Create a basic spread sheet of costs and income, and try a multitude of scenarios.

Think of one scenario: the highest possible income you could expect, and the lowest possible costs you could expect. Try this scenario and every other likely combination of circumstances, such as high cost/low income, medium cost/medium income and so on, and then add another variable: time. You will probably end up with dozens of spread sheets. Many of them will be ridiculous or highly unlikely, but any of them is potentially possible.

We don’t suggest that any of these spread sheets will contain the answer to your question, “should I or should I not?” We do suggest that doing this exercise, and seeing clearly the range of possible outcomes, might help you to look at your dilemma from a range of perspectives and help you to make a decision.

We can’t predict what you will decide. Don’t forget, if you decide to launch your business, that NJ business insurance has been designed to protect your enterprise from a number of unplanned, unpredictable scenarios.

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