1.Do What You Love
2.Start your business while you’re still employed
3.Don’t do it alone.
4.Get clients or customers first.
5.Write a business plan.
6.Do the research
7.Get professional help.
8.Get the money lined up
9. Be professional from the get-go.
10.Get the legal and tax issues right the first time.
Make sure you do this and everything will be good.
Good Luck
Sunday, May 31, 2009
Extras!
Extra tips to think about:
Make a website for your business (internet is very useful now in days)
Radio Ads
Newspaper Ads
Specials
Good Credit
Smart and Clam
These are sum useful extras that you can do to make your business better.
Make a website for your business (internet is very useful now in days)
Radio Ads
Newspaper Ads
Specials
Good Credit
Smart and Clam
These are sum useful extras that you can do to make your business better.
Your Thoughts....??
Now that you know a little bit of background information, what are your thoughts about starting a business now. Also, if anyone has any other helpful tips for others trying to start up any type of business feel free to post.
Action!
After you do all the planning you have to take action. Once you get all your loads done with the bank and all the paper work and prices straighten out you can start to open your business and start prompting your business. One thing before that you have to do is put ads out first that your business will come out soon so people around you can know that your business is coming out. One important thing that i have learned from the past from my pervious bosses is not to work with family because it gets to complicated.
Financials
Every business needs to take risk. Without risk your never be able to advance your company. These risks can be the location you select or the prices, etc. At the same time always think "what if"
Some tips from "My own Business":
TOP TEN DO'S
Prepare a complete business plan for any business you are considering. Use the business plan templates furnished in each session. Complete sections of your business plan as you proceed through the course. Research (use search engines) to find business plans that are available on the Internet. Package your business plan in an attractive kit as a selling tool. Submit your business plan to experts in your intended business for their advice. Spell out your strategies on how you intend to handle adversities. Spell out the strengths and weaknesses of your management team. Include a monthly one-year cash flow projection. Freely and frequently modify your business plans to account for changing conditions.
TOP TEN DON'TS
Be optimistic (on the high side) in estimating future sales. Be optimistic (on the low side) in estimating future costs. Disregard or discount weaknesses in your plan. Spell them out. Stress long-term projections. Better to focus on projections for your first year. Depend entirely on the uniqueness of your business or the success of an invention. Project yourself as someone you're not. Be brutally realistic. Be everything to everybody. Highly focused specialists usually do best. Proceed without adequate financial and accounting know-how. Base your business plan on a wonderful concept. Test it first. Skip the step of preparing a business plan before starting.
Another very important thing to do is make balance sheets for all your records. This includes all the spending and the future spending.
Some tips from "My own Business":
TOP TEN DO'S
Prepare a complete business plan for any business you are considering. Use the business plan templates furnished in each session. Complete sections of your business plan as you proceed through the course. Research (use search engines) to find business plans that are available on the Internet. Package your business plan in an attractive kit as a selling tool. Submit your business plan to experts in your intended business for their advice. Spell out your strategies on how you intend to handle adversities. Spell out the strengths and weaknesses of your management team. Include a monthly one-year cash flow projection. Freely and frequently modify your business plans to account for changing conditions.
TOP TEN DON'TS
Be optimistic (on the high side) in estimating future sales. Be optimistic (on the low side) in estimating future costs. Disregard or discount weaknesses in your plan. Spell them out. Stress long-term projections. Better to focus on projections for your first year. Depend entirely on the uniqueness of your business or the success of an invention. Project yourself as someone you're not. Be brutally realistic. Be everything to everybody. Highly focused specialists usually do best. Proceed without adequate financial and accounting know-how. Base your business plan on a wonderful concept. Test it first. Skip the step of preparing a business plan before starting.
Another very important thing to do is make balance sheets for all your records. This includes all the spending and the future spending.
Wednesday, May 27, 2009
Management
In order to be in a sucessful business you have to have a great management in place. You as the owner has to know everything thats going on and how u going to handle certain things. One of the tips that I have heard a few times is not to go in business with your famliy and to trust your workers.
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