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Business planning idea

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Business planning idea

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  1. How to Start a Small Business ???

  2. There are no limits on who can become a great entrepreneur. You don't necessarily need a college degree, a bunch of money in the bank or even business experience to start something that could become the next major success. However, what you do need is a strong plan and the drive to see it through.

  3. Here are 10 steps that are required to start a business successfully. Take one step at a time, & you'll be on your way to successful small business ownership.

  4. 1. Do Your Research • Is there a need for your anticipated products/services? • Who needs it? • Are there other companies offering similar products/services now? • What is the competition like? • How will your business fit into the market?

  5. 2.Make a Plan • You need a plan in order to make your business idea a reality. • A business plan is a blueprint. • That will guide your business from the start-up phase through establishment and eventually business growth.

  6. 3.Plan Your Finances • Fund your start up yourself. • Request a small-business grant. • Start a crowd funding campaign online. • Join a start up incubator or accelerator. • Solicit venture capital investors.

  7. 4.Choose a Business Structure • Sole proprietorship. • A partnership. • A limited liability company (LLC). • A corporation.

  8. 5.Pick and Register Your Business Name • Choose your business name. • Check if it's trademarked or currently in use. • Register your business. • Register Your domain name.

  9. 6.Get Licenses and Permits • Paperwork is a part of the process. • Small business licenses and permits. • Research what licenses and permits apply to your business during the start-up process.

  10. 7.Choose Your Accounting System • Create and manage your budget. • Set your rates and prices. • Conduct business with others. • File your taxes. • Hire an accountant. • Choosing accounting software.

  11. 8.Set Up Your Business Location • Style of operation. • Foot traffic. • Accessibility and parking. • Proximity to other businesses and services. • The building’s infrastructure. • Rent, utilities and other costs.

  12. 9.Get Your Team Ready • State your goals clearly. • Follow hiring protocols. • Establish a strong company culture.

  13. 10.Promote Your Small Business • Start attracting clients and customers. • Use social media effectively.

  14. Starting a business can be risky and challenging, but armed with the proper tools and information, you can put yourself on the path to entrepreneurship. Conclusion

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