Starting a business is no easy endeavor, nor is it one that should be entered into lightly. However, in today's rollercoaster economy, it seems particularly treacherous.

While there are no easy routes to success, there are certain steps you can take to increase the probability of your business getting off the ground and staying afloat.

To help you, we talked to alumni and friends of UIC, who have either started their own businesses or who have helped others launch their entrepreneurial careers, to get a few dos and don'ts.

Bill Stringfellow, co-founder of Genesis Inc., a precision sheet-metal-forming and fabrication business. Genesis is a founding member of UIC's Family Business Council.
Have a positive attitude. "If you're a negative person, then go work for somebody," Stringfellow suggests. A positive attitude helps you work through the rough spots and get past the naysayers.

Common sense and creativity. These two functions go a long way in determining your entrepreneurial path. Common sense should tell you, "don't manufacture buggy whips," says Stringfellow. Creativity helps you develop an idea that is new to a particular market.

Opportunities won't come to you, you have to look for them. "The best place to find an opportunity is in a problem," says Stringfellow. "If you find a solution to a problem, you create an opportunity."

Ready, shoot, aim. Stringfellow takes a somewhat irreverent approach to start-up. Many experts suggest you spend six months building a business plan and another six getting opinions. But by that time, he says, a year is gone and so is the opportunity. "So, to me, you take the opportunity out of your gut and just do it. If it doesn't work, wait for another opportunity."

Most Important: Enjoy whatever it is you choose to do, and don't be afraid to fail.

Rod Shrader, associate professor of management and entrepreneurship at UIC.
For openers, there's no such thing as a perfect plan. "If there was, and I knew how to write it, I'd be a millionaire," says Shrader. But there are some really bad ones, he adds. To make sure yours isn't one of them, he offers the following advice:

Think about the function of the business plan. Many people have the misconception that it is just a vehicle to raise capital. "If you're writing it because the bank demands it, your heart is not going to be in it, and it won't be an effective business plan," he says. Asking "What if?" questions should help you crystallize the concept and reduce uncertainty.

Let other people look at your plan. Some people think this is a no-no, but it provides a more objective view of the business idea. It helps strengthen your confidence in your idea as well as catch illogical statements.

Assess feasibility. You did a lot of work on that business plan, and now it produces an unforeseen outcome — yours is not a good business to start. After all, that's what a plan is supposed to help you determine.

Create a strong executive summary. Typically, this is the first section an interested party will read. If it doesn't capture their attention right away, it doesn't go anywhere. "Most people reject a business plan within two minutes," notes Shrader. The number one reason is because it is an improper fit between the investor and the proposed investment.

Write up the management team. Don't downplay this. Investors want to see a competent, committed management team. "Most investors say they would take an A team with a B plan over a B team with an A plan any day of the week," says Shrader.

Bryon Denenberg, cofounder and managing partner, KB Partners, a Chicago-based venture capital firm, and member of IES mentoring and seed capital consortium.
Take a look at where you are financially. Initial startup capital is often culled from intimate sources such as bank accounts, credit cards and family members. Once those sources are exhausted, however, it's time to talk to the big boys.

Investors, particularly venture capitalists, have specific areas of financial interest. Some provide only "seed money," which is used to get the enterprise to market, Others provide capital to maintain operations.

Research for the right company. Look for funds from firms or institutions that match your needs. Start with firms in your geographic region. VCs, for example, want to be close to their investments.

Seek investors who are experienced in financing similar ventures. Most VCs are market-specific, notes Denenberg. They have an intimate knowledge of the market or technology in which they invest. "Most will tell you ... they want to bring some value to the company in addition to the money." Find a good match. Use the Internet to find VCs that match your needs. Once you find one, however, don't just mail in your business plan and expect an answer.

Approach potential investors. The best way, says Denenberg, is to get a personal introduction to the firm. That means doing detective work. Find out whom the firm deals with — banks, lawyers and other companies — and see if any of them can make the introduction.

Jim Liautaud, entrepreneur and COB for Gabriel, Inc., an investment company.
The pre-launch. The best you can do with any launch is to have a good product. If you want a perfect product, though, pre-launch it and use the feedback gathered from consumers.

More for less. If you have to compete in a mature marketplace, give consumers a product or service that is better than what exists, and provide it for less.

Don't give up! Few businesses get off the ground running. Many don't make a profit for the first three to five years. Belief in yourself, your product and your business will help you persevere, as well as continue to perfect your product or service and find new ways to attract consumers.