STARTING A SUCCESSFUL BUSINESS
Here Are The Simple Steps:
In general, once you decide on the type of business you want and you know there is a demand for the product you sell or the service you provide, it is very simple...
1.Decide on your business structure (sole proprietor, partnership, corporation, LLC, etc.)
2.Prepare a Business Plan, at least an outline of what you plan to accomplish with your business.
3.Register your Business Name
4.Obtain your Business Tax Ids
5.Obtain the required licenses. You will most likely need licenses to operate your business.
6.Open a bank account
7.Start making money
Before we make it any more complicated than it already is, keep in mind that if you already have customers - YOU ARE ALREADY IN BUSINESS. Then realize that it's easy to be successful. Ok. Nothing is really easy in this life but neither is it very hard to start a business and be successful in it. In general, to be successful in starting a business, you need to understand your type of business.
Here are the basics:
1.Equipment: What do you need to run the business? Example: A hamburger stand needs at least a grill, a storefront, tables and chairs.
2.Supplies: This will vary with each business but it should not be hard to buy and store your supplies.
3.Staff: What type of workers do you need to run the business? Example: A restaurant needs at least a cook.
4.Expenses: How much is it going to cost me to run the business? Electricity, rent, payroll, etc.
5.Clients: How am I going to make money? Find out who your customers are and find a way to attract them - advertise. Then, buy your equipment and supplies, select your workers, figure out your expenses, and know your clients and the competition.
6.Competition: Don't worry too much about the competition, just provide a product in demand, guarantee it, price it reasonably and competitively, and provide the best service you can.
Finally, learn how to manage people, reward them for their work, network, network, network, and start making money!
You WILL be successful!
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