Do You Know How to Start a Successful Business?
When you first start thinking about your business, talk to other business owners and gather ideas and advice you can use for your business. Try to learn from every experience you have and every person you meet. Take advantage of these resources and start writing down your ideas.
Once you have a targeted idea for your business, your next job is to do the research to be sure that your great idea will thrive in your market. This gives you time to fine-tune your plan before you start spending money on the business. The U.S. Small Business Administration website is a great resource with free information for small businesses. Among other things, the U. S. Small Business Administration says that you should be able to answer all of the following questions before you spend money to start a new business:
• Is my idea practical and does it fill a need?
• Who is my competition?
• What can my business offer that other companies cannot?
• Why will your potential customers purchase products or services from you?
• How will you reach your potential customers?
• How much money do you need?
• How will you get the money you need to start your business?
• When will you be able to pay yourself a salary?
After you answer these questions and decide that you can proceed with your business, the next step is to develop a business plan. Many small business owners overlook this very essential step, but you should not. This is where you closely examine your start-up costs, business model, overhead, and the other fine details of running a business.
You can find sample business plans and free advice on the U.S. Small Business Administration website, and SCORE volunteers will write your plan for you. There are many resources that will help you prepare your business plan. The most important information in your business plan is:
1. Business structure-Will you incorporate or form an LLC?
2. Budget--Estimate your earnings and expenses by categories such as advertising, marketing, insurance, taxes, rent, tech support, Website, phone service, janitorial services, and any other expenses that you anticipate.
3. Start-up costs-You should have all of your start-up plus the rule of thumb is that you must have your living expenses for at least a year.
There are many books in the library with great information about starting your business, and you should take advantage of any help that is available. Remember, a business owner must work hard and be committed to the business if it is going to succeed. You can rely on your knowledge and experience and stay focused on your goals..
Jo Ann Joy, Esq., MBA, CEO
The future of your business starts here!
You may contact Jo Ann by phone at (602) 663-7007, by fax at (602) 324-7582, by email at joannjoy@Indigo Business Solutions.net, and by mail at 2313 East Ocotillo Rd., Phoenix, AZ 85016. I have many published articles, and I will send any article to you free of charge. Most consultations are free.
For information about other important legal, tax, and business topics, free copies of articles, or EBooks, please visit our website at www.IndigoBusinessSolutions.net
Copyright 2006. All rights reserved. Indigo Business Solutions is a registered trade name.
Related Tags: small business, success, research, business plan, start-up costs, operating expenses, follow-through
Jo Ann Joy is a strategic business attorney and the CEO and owner of Indigo Business Solutions. Indigo Business Solutions is a "one stop shop" for businesses. We differ from other business consulting firms, because we offer legal and business counseling. We work with our clients to create value and gain competitive advantage.
Jo Ann has a law degree, an MBA, and a degree in Economics. Her legal background includes commercial, corporate, bankruptcy and real estate law. She has expertise in accounting, business planning and strategies, mortgage lending, marketing, and product development.
Jo Ann ran a successful business for 10 years, and she is a published author on many different legal and business subjects. Her company, Indigo Business Solutions, strives to help businesses make decisive improvements. It is our goal to inspire enterprising people to make their goals a reality. If you are not getting what you want from your business or if you want to reach higher goals, please visit our website http://www.IndigoBusinessSolutions.net to see how we can help you. Your Article Search Directory : Find in Articles
Recent articles in this category:
- 8 Differences Between Traditional Businessmen And Entrepreneurs
The difference between traditional businessmen and entrepreneurs is not huge-it could be a thin-line - Airless Container Packaging Technology
The choice of an airless container wasn't an impulsive decision for many brand marketers nowadays. T - Laser Processing Of Metals
You may have known that lasers produce very powerful and exact beams of light. As a result, they can - Titanium Metal Powder
Have you ever thought about that how a heavy aircraft can fly high in the air without falling to the - Race To Icd-10 In Healthcare Outsourcing
Healthcare organizations are running a race against time to achieve ICD-10 compliance in medical bil - Benefits Of Tig Welding Machines - The Leading Special Welding Machines
The TIG welding process allows a welder exacts controls which result in a clean weld blob. TIG weldi - Full Time It Support Or Flexible It Support?
When you're choosing what type of IT support to take on for your business, it can be tricky to deter - The Best Sticker Products - Vinyl, Motorcycle & Helmet Stickers
Are you looking for some of the really best sticker printing products? If yes, then it is none other - Jobs At Home: 5 Practical Tips That Will Help Work-at Home Moms Get Organized
As a work at home mom who has successfully been doing it for quite a while now, I have realized that - Choose A Right Virtual Assistant Company For Your Staffing Difficulty
If you simply waste your precious time on daily routines that can easily assign to an employee, Virt
Most viewed articles in this category:
- Discover How to Entertain on a Budget
To most people these two words, entertain and budget, are miles apart. But they don't have to be. Wh - Six Reasons the Merlin Magix is Ideal for your Business
Why the Merlin Magix Phone System Integrated Phone System is ideal as your business phone system - Indian IT's Off-shore Gains
recent revised guidance of Satyam Computer Services (Satyam), the over $1-billion Indian IT se - 7 Sure-Fire Time Management Tricks To Get More Done
Do you know why you don't get all the stuff on your to-do list done? Sometimes it's as sim - How to be Successful in Business
Starting a business and making it work is the primary purpose for having a business to begin with. I - Setting Up a Decorative Painting Portfolio - How Do You Do It?
Setting up a professional looking portfolio is essential to impressing and obtaining clients as they - Home Business Taxes-How To Stop Taxes In Your Home Business From Sneaking Up On You
"Sixty thousand dollars? You guys are joking right?" I had just completed my first year of being fai - The #1 Small Business Phone System
T h e N o . 1 s m a l l - b u s i n e s s phone s y s t e m . . . s i m p l y p o w e r f u l . . .p - Training Employees Within A Budget
Businesses have spent a lot on employee training and their development in order to improve sales, cu - Hollander Consultants Ends 2006 with its Second Highest Year Ever
Hollander Consultants Also has Second Highest 4th Quarter Ever Tualatin, OR: Hollander C