Many people, particularly recent college graduates, dreaming of owning their own businesses. Although such ventures are often exciting and profitable, the new entrepreneur should thoroughly investigate and plan the situation before plunging in. The first step should be to assemble a board of advisers, including a lawyer, an accountant, and an insurance representative. These individuals can provide valuable information and counsel. Securing the necessary licenses and permits is also a precondition and may require research to determine what is necessary. Most successful small business owners have considerable knowledge in the area working for others be fore they become independent. They also begin with substantial financial backing and a good location. Renting space may be preferable or necessary at the start, but the lease on the building must be examined carefully before it is signed. The new owner should be thoroughly familiar with the market and the competition. A person who wants to buy an existing business can often learn the history of the company and its prospects from the owner's records. Once the business gets started, accurate and complete records should be kept to monitor the company's progress and profits. Financing may be the most difficult step for small-business owners. They may rely on their own savings or borrow money from a bank or the Small Business Administration. Some suppliers will sell merchandise on credit, and manufacturers may be willing to finance the purchase of equipment. If the new business is a corporation, the owner may choose to sell stock. Once the new business is started, the Small Business Administration is a good source of advice. Several of its programs are designed to help new owners with expertise of retired executives. A nearby university or trade association may also help owners locate local sources of help. New business owners often report that they work long, hard hours but find the experience extremely satisfying. The realization that their efforts will produce actual results in the form. of profit, success, and pride can be quite motivating. Those who have worked for others enjoy the opportunity to make decisions and follow projects through to completion. Many report that hard work has never been so enjoyable before. Careful research, investigation, and planning at the outset do not guarantee success, but they provide a good foundation for the new small business and its owner. Before you begin, the most necessary adviser for you is ______.