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10 Tips to Start a Business

Discussion in 'General Business' started by CheapRDP, Mar 12, 2011.

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  1. #1
    Hello,

    Here I am Noted 10 Tips to Start a Business:

    1. Identify your talents. Define your passion and think of it in terms of profit. It may be product-oriented or service-oriented.

    2. Consult with colleagues. Mentors, friends, family and a SCORE counselor can provide valuable feedback about your start-up ideas. Their support and suggestions will be valuable as your business venture progresses.

    3. Research, research and more research. Learn about the business by attending association meetings, local networking groups and by talking with business owners in similar fields. Research the industry and investigate the competition.

    4. Know your money. Analyze your financial resources before pouring your savings into a business venture. Identify both the start-up and ongoing costs. Determine how much you will need to support your family while you build the business.

    5. Know yourself. Evaluate your personal strengths and weaknesses. Factors such as motivation, organization, and internal drive will be important to your success.

    6. Keep records. Complete, accurate records are needed to file taxes and properly manage your bank accounts. Record new business ideas and business mistakes; these can provide future guidance.

    7. Get business counseling from SCORE. Meet with a SCORE counselor, either face-to-face or via email, and discuss on your business ideas. SCORE’s volunteer counselors are experienced business owners and managers who can assist with business planning and forecasting issues.

    8. Talk about lifestyle changes. Discuss the possible lifestyle, financial and emotional changes your family will encounter. Air all concerns and make sure your family supports your decision.

    9. Find necessary resources. Determine sources of capital, equipment, employees and vendors. Always have back-up sources.

    10. Remember your reasons. Before starting a business, write down why you decided become an entrepreneur. Keep this list handy at all times; these reasons will motivate you in good times and in bad.
     
    CheapRDP, Mar 12, 2011 IP
  2. rain21

    rain21 Active Member

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    #2
    research and find the competition and the best place to start is also important.
     
    rain21, Mar 15, 2011 IP
  3. id2011

    id2011 Active Member

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    #3
    Great share,

    I want to ask
    how to start online business?
     
    id2011, Mar 16, 2011 IP