subject: How To Start A Business: What To Do [print this page] Starting a business is not complicated; but it is challenging indeed. If you are aware of the DOs and DONTs of starting a business, however, you would not have a difficult time at all. It takes knowing the different things that you should do and what to avoid guiding you when you are just on the threshold. When you start your own business, think about these things.
Definitely DO this
Be frugal and save as much as you can for your investments in your business. You would need it later on when you are about to jumpstart a project or task and youve already used up most of your loan resources. Instead of using your property or your car as mortgage, use what youve saved and put it into your business.
Do your research. And this means not only reading up on your business and industry; but also learning from the pros. How do you do that? By working for someone else who has been in the business for many years. Learn the ropes before you start your very own business. These people would have been there and done that when it comes to operating a business in your chosen industry. Dont be afraid to ask for advice because you would surely be experiencing the same things that they have already experienced when they were just starting. It would be to your advantage if you can already skip some parts and be able to provide solutions to some of the problems you will encounter when starting.
Dont resign from your job. Not until you can be confident that you can already eat and pay the rent with your profits. Consider starting a small business while you still have your main job that pays you well. Do it after office hours or during weekends. The idea is so you can still be able to have food and a roof over your head even when you are starting your business.
Consider a small family business. It is very rewarding to have your family in the deal because they too would understand and help you especially during the rough times.
Assess and measure your skills according to the competition you will have when you start your business. Be objective about it and really compare the leverage you will have from the others who are already in the industry.
Determine low cost suppliers and subcontract your materials. This is especially true if you plan to be in the manufacturing industry.
Consider test marketing your product or service before investing your hard earned money on your business. Get greeting cards printed by a local provider of custom greeting card printing if you want. The idea is to ensure that you have a market for your offer.
List your own benefits and disadvantages, as well as the changes your business would entail in your life, career, and to your bottom line. List down everything you can think of.
Get advice. Dont be afraid to talk to a lot of people and ask for suggestions before you start your business. And dont be picky. Talk to professionals, suppliers, sub-vendors, and even your mailman. Youll be surprised what these people can tell you as far as good advice go.
And get serious when comparing and analyzing all possible opportunities you have in the industry you choose to do your business.
Learning the things that you should do before you start your own business can go a long way in giving you more than the optimism and drive you need to jumpstart it. You may need to modify some of the suggestions; but the bottom line is to learn more than you can so you will be ready to face the challenges of operating your own business.
by: Robert Johnston
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