Posted on June 25, 2010.
What are the first 3 steps to start your own business? I was working a dead end job for 12 years now, im 32 with 10k dollars and I want to start my own business but have no idea how to go about my first 3 steps towards this goal. All business owners out there any tips for me please.
Here's a good link to start a business ...
1) Identify a business idea which corresponds to a passion you have.
Two) the market value of the search for your business (eg competition in the area you want to do this job, or move to an area where he will succeed), consideration of census data to patterns of consumer spending in the locality; Forecast market share realistic you for the next 3 years - thanks to growth curves.
3) The income and expenditure forecast for the company over the next 3 years (including the calculation of operating costs, leases, utilities, advertising, employees, and your own time).
4) Determine whether you can afford to empty your time in the company
5) Develop a plan for large-scale enterprises. Entreprueners Magazine is a good starting point because they contain business plans for prepackaged reached common and templates to create your own.
6) Tell your friends and family about it. See if they think it's still a smart company after seeing your business plan.
7) See financing options. 10K is a small amount of starting a business. Many companies require $ 50,000 to $ 4,000,000 and go for it. You can watch the development of a society and the private sale of stock issued to the family and friends.
8) See franchises that do what you think of doing. their advertising systems, and packaged, and their support ... are very useful for someone who has never started before.
9) Even if you do not go with a franchise, go ahead and interview 2 or 3 of them so they can sell you on their system. This is a fantastic learning process, even if you decide never to send a check and choose to compete with them (or go a completely different direction than the type of free entertainment.
10) Establish goals
There is truth in some of observations, such as identifying different ideas (maybe based on your experience, or just love the fabric) and do a little research. Now, I do not agree with the comment 10K was not enough, it all depends on what business you want concentrate.If related sales, most of the time, you do not need much capital Personally, I helped some people start businesses within 10 km and they are on track. If all sales related. If its some retail, manufacturing, so you'll probably need more money, but you can still start the business and then apply for a loan or SBA SOHO.
Good luck
You must first determine what business you want to start. Then you need a business plan. Then you must acquire enough money to start the company and the company will maintain at least 5 years. This includes paying yourself a decent wage.
Most businesses fail within the first few years. Almost all lose money for the first 3-5 years. 10K will not be nearly enough to keep the company and you go for that period, it is not even enough to live.
Most communities have many resources for the budding business owner. You can find the help you're looking ahead with a business idea and develop your business skills and get a little support.
1. The SBA and CBD (Small Business Development Centers) have a lot of resources and their help is free or very low cost.
2. Most community colleges have courses in starting a business, either for credit or not.
3. It seems that if you have the financing you need (very chic), but some microcredit organizations offer business training. Google "micro-loans (name your city)".