Entrepreneurship is the act of starting and running a business. And all businesses, from neighborhood coffee shops to multinational corporations, have one thing in common—an entrepreneur started them.

Like many things that could radically change our lives for better or worse, the idea of starting a business stirs extraordinary emotions. On the one hand, who doesn't dream of being one's own boss?

Market conditions refer to economic and competitive conditions that can impact a company's likelihood of success. So, understanding and researching market conditions is a crucial step in the process of starting a new business. 

The rise of platforms such as Uber, Airbnb, and GrubHub has changed the way millions of people think about work, blurring the lines between employment and self-employment. According to recent estimates, more than one-third of the US workforce— or approximately 57 million people—participate in some form of gig work.

Starting a new business is a significant undertaking that requires careful planning and budgeting. Several costs must be considered when starting a new business, and it is important to be aware of these costs to make informed decisions about the viability of your business idea.

Becoming an employer for the first time can be a head-spinning experience. You have to assume responsibility for various things that directly impact other people's physical and financial well-being. Failing to do your due diligence in these areas can result in a litany of potential problems.