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1. Starting Business: |
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Make sure you know what it takes
Why do you choose self-employment? Are you entrepreneurial
person? What knowledge, skills and experience do you have for starting
and running a business? Have you chosen the right small business
for you?
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Define your internal and external intent
What is your goal? What is the main objective your
business should accomplish in your life? How will your business
benefit others? What is the problem your product or service will
solve?
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Check your business idea
Does it satisfy or create a market need? Can you create
a demand for your business? Who are your competitors? Can you provide
a better quality service? Have you evaluated your chances for success?
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2. Planning Business: |
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Write your business plan
What should be included into business plan? Are there any business
owners you can get advice from? What are the growth possibilities?
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Create your financial plan
What are common start-up expenses? Do you have enough money
to survive for six months while your business gets off the ground?
Do you need start-up funding? How can you raise money to start your
business? Is it possible to get a bank loan, find an investor or
receive grants?
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Create your marketing plan
Have you analyzed the market environment and done marketing
research? Have you defined your customer? What is the unique benefit
you offer? Have you priced your product competitively? Have you
chosen distribution methods?
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3. Making Business Legal: |
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Choose your business name
Is it easily understood and pronounced? Did you make sure the
name is available? Have you started your trademark search? Have
you registered your trademark?
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Choose your business structure
Which business structure would you like to have: sole proprietorship,
partnership, corporation, limited liability partnership, limited
liability company? Do you plan to hire employees? Did you find an
attorney who specializes in small businesses?
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Get your business license
Did you obtain a city and/or county business permit?
Do you need professional licensing from your state? Did you determined
the proper amount of sales tax you need to collect? Do you need
any other permits, like a fire inspection, sign and seller's permit?
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4. Locating Business: |
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Choose your office place
Are there easily accessible phone and electrical outlets? Will
your current desk or table fit in the location? Is lighting and
ventilation adequate? What is the noise factor?
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Equip your office
Are your assets protected? Safety in Is your workplace
safe? Is there adequate lighting, ventilation and space for you
to easily access your inventory? Is your office climate-controlled?
Will you need climate control? Will you need to construct special
shelving or add other storage space?
Obtain vehicles for your office
What vehicles do you need? How will your employees use vehicles
while working? Have you obtained adequate insurance to protect yourself
and your business against legal liabilities?
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5. Hiring People: |
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Recruit your employees
What will you pay your employees? What are the benefits for your employees? What are the rules for your employees?
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Motivate your employees
What do your employees want? Are you going to reward employees and recognize their achievements and contributions? How?
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Discipline your employees
Have you developed and set up discipline program? Are
you ready to deal with employees' complaints? Do you document disciplinary
actions?
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6. Managing Business: |
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