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10 Business Start-Up
Tips >>
Source
Score.org
What is the key to building a solid
foundation for your home 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 counselor can provide valuable feedback about
your start-up ideas. Their support and suggestions will be valuable
as your home 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 home 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 home 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.
HBM
Source:
Score
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