How will you start a new business - MYBF

akshita · #1 (**permalink**) 07-12-09, 02:11 AM

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Introduction

* Starting a small business is an exciting time, filled with the potential for success. Along with a great idea or niche, many small business start ups also need financing through banks or private lenders.Prosper: Get a Personal Loan for your Business2 And whether you're looking to start a brick and mortar storefront, an home-based business or an internet store, a solid, well-researched plan of action is a must.Small Business Administration: Small Business Planner3 From your first idea to your first customer, plan ahead for success. The following article will help guide you through the process of starting a small business.

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Ready to be your own boss? If you're tired of making money for someone else, it may be time to start your own business. How to start a small business will introduce you to the basics of getting your own small business off the ground.
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Small Business Tips

1. Create an online presence.
2. Start a blog that relates to your business.
3. Send out a newsletter for new and existing customers.
4. Add a poll to your websites.
5. Advertise in the signature line of your email.
6. Advertise on well-known websites.

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* by K. Ring

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Estimate Start-Up Costs and Potential Profits

1. Work your big idea out on a paper or worksheet first to get a good idea of its potential profit.Small Business Administration: Finance Start-Up4
2. Sites like Business Know-How and Palo Alto Software offer free online start-up cost calculators and worksheets to get you started.Business Know-How: Start-Up Cost Calculator Calculator5 PaloAltoSoftware.com: Starting Costs Estimator6
3. If your idea doesn't seem to be profitable, don't give up. Try a different angle or another related niche that you can fill.
* -For example, if you've decided to chuck the idea of selling housewares because you can't find a reliable distributor, consider becoming a distributor yourself.

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Research the Market

1. Search the web for the same business idea you have to see if the market is saturated.Positive Money Making Ideas: Money Making Ideas Index7
2. Check the local phone book, Yellow Pages and Chamber of Commerce to find businesses that are similar to your idea.
3. Use all available resources to thoroughly know your chosen business area(s) and options and when and if you choose to go ahead in an area, continue to do so throughout your business career - know your business better than anyone else.
4. Selected Resources to Consult: tour related businesses, consult your government business/small business assistance programs/centers, talk to people, Internet, public/college library and get a membership, introduce yourself and get to know your reference librarians and staff for a lifelong research helping relationship, find and interact with relevant associations and conferences, university/college/other business or continuing education or professional development courses, workshops, lectures, read books/articles/news sources/websites, find your own best sources, ask colleagues for recommendations etc. and develop ongoing networking with individuals and formal situations eg. business networking meetings, online discussion eg. talking on relevant blog posts ( http://www.google.com has a blog search ) etc.

homesecurity · #2 (**permalink**) 01-02-10, 09:05 AM

1) Do what you love.
You're going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it's really important that you truly deeply enjoy what you do, whether it be running fishing charters, creating pottery or providing financial advice.

2) Start your business while you're still employed.
How long can most people live without money? Not long. And it may be a long time before your new business actually makes any profits. Being employed while you're starting a business means money in your pocket while you're going through the starting a business process.

3) Don't do it alone.
You need a support system while you're starting a business (and afterwards). A family member or friend that you can bounce ideas off and who will listen sympathetically to the latest business start up crisis is invaluable. Even better, find a mentor or, if you qualify, apply for a business start up program such as The Self-Employment Program. When you're starting a business experienced guidance is the best support sytem of all.

4) Get clients or customers first.
Don't wait until you've offically started your business to line these up, because your business can't survive without them. Do the networking. Make the contacts. Sell or even give away your products or services. You can't start marketing too soon. (See Attracting New Business on a Shoestring Budget and Just Do These Two Things to Get More Clients for tips.)

5) Write a business plan.
The main reason for doing a business plan first when you're thinking of starting a business is that it can help you avoid sinking your time and money into starting a business that will not succeed. (See Why You Need A Business Plan for other good reasons.)

Remember, you don't have to work through a full scale business plan for each new business idea you come up with; my Quick-Start Business Plan, for instance, will let you test the potential of your business idea much more quickly.

escorts · #3 (**permalink**) 20-02-10, 08:47 AM

BUSINES NAME
Think about how you want people to feel when they hear the name. Write down the words on paper and then categorize them by primary meaning.
Think about related words and phrases that evoke the feelings you want. Hit the thesaurus and find all the synonyms for your words and phrases.
Relate more. Find out the Greek and Latin translations of your words. Figure out what colors, gemstones, plants, animals, etc., relate to your words.
Experiment. Start playing with combinations of your various words and partial words. Don't be judgmental now - just make a list.
Review your list and just give some thought to each name. How does it make you feel when you hear it?

brain · #4 (**permalink**) 24-02-10, 01:14 PM

Highly informative post. Thanks for sharing. I think it will help small business owners a lot.