7 Steps to Starting Your Own Business

Step 1. Personal Evaluation

Why do you want to start a business? Is it money, freedom, creativity or some other reason?

Step 2. Analyze the Industry

Who will buy your product or service? Who would be your competitors? How much money will you need to start?

Step 3. Make it Legal

Name you business. Register it. Get the proper business license and permits. Check into your insurance needs.

Step 4. Write a Business Plan

Define your strategy, tactics and specific activities for execution, including key dates, deadlines and budgets and cash flow.

Step 5. Get Financed

Most small businesses begin with private financing from credit cards, personal loans, help from the family etc.

Step 6. Set Up Shop

Find a location. Negotiate leases. Buy inventory. Get the phones installed. Have stationery printed. Hire staff. Set your prices.

Step 7. Trial and Error

Expect mistakes. Be open minded and creative. Adapt. Look for opportunities.

Miro Zecevic-Mina Mar Group-MMG-business-business growth-business planning-business goals-company growth-office-ideas-bizowner-business success

#MiroZecevic #MinaMarGroup #MMG #business #businessgrowth #businessplanning #businessgoals #companygrowth #office #ideas #bizowner #businesssuccess

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s