Or ... The best way to start a business
His decision to start a new business was done. Now, what to do? Sometimes it's a bit overwhelming to see where you really start the process. Look at yourself first? What is an estimate of how much will it cost? Should I get commodity agreements before finding the markets? In the event that prior to advertising, or simply make an announcement? Who do I hire first, if anyone at all? There are hundreds of similar issues facing start-ups.
After 30 + years, with the opening of new businesses and existing businesses to analyze, I have compiled a guide for the first steps to starting a small business. You, as a new entrepreneur, buying an existing business or buying a franchise, or perhaps start a home business, resource planning business are the same. What's different business strategies, start-up costs, business opportunities and step by step instructions available to start a small business.
So lets get right. All the commands to start a business degree. Well, it is also great, and it is certainly necessary, but organized before we go.
* Step 1 Get file folders and label them as follows:
- Products - All you have to do with what you sell or service.
- Finance - Where is the money comes from seeds, cost estimates, is where the money goes.
- Receipts - All the money spent so far.
- Organization - what form this new company intends to take.
- Advertising and Marketing - All new ideas to generate revenue for the company.
- Government - Permits, licenses, new business tax information, etc.
- Strategy - What is this new company is all about and how you are going to do it.
- Locations - Do you rent space, Realtor information - or DNS, the Internet.
- People - all of which are included and what is their involvement, joint venture partners.
Use these files for each bit of information you have gathered about starting your new business. If you need other categories, then do what is necessary. However, try to think in terms of fewer files and nothing else. It is easier to find and your mind will quickly adapt to the organization.
Step 2
Once you have collected the information, the next step in starting a new business is due diligence - a legal term used to determine if all that was offered in reality, really. But the same practical approach when buying a business can use when starting a new business. Use the information you've gathered to present a realistic size of your market and the income you expect to receive on a monthly basis. If your income is sufficient to cover the cost of what you can expect to run the business operation so that you can move on to the next step. If not, then you need to develop your market, change your product, reduce costs or to recommence. Let's be realistic here. Be smart.
Step 3
Now you can put together a complete business plan, which includes the following:
a. Statement of Intent (some call it a summary)
b. Market Analysis - Development of the other using the information in Step 2 and really get into the details of how you will address the market for a new product or service. You also need to get really competitive markets primary and secondary.
C. Description of Activity - What are you trying to do and how do you make money from your new business start-ups? Last few pieces of the whole concept of your new business.
d. Organization Configuration - what kind of business that will do. Will it be a sole proprietorship, a corporation, a partnership? Who is involved, what they will contribute, and how you clean it? What will the management structure will be perfect? Who answers to whom? You need that kind of things discussed at the start or be a further complicating factor.
e. Sales and Marketing. Details here cover all areas, even those that are not practical for the first year or two. It takes a variety of methods to implement and support their sales. Make sure you know all your competition is selling and how well they sell.
f. the products. Available for all products or services, you are going to sell a new business.The information (with real brand, size, etc.) can be put behind the addition of a new business plan. But the total package of what is sold is justified.
g. Capital requirements - How much money will need to start and operate your new business with the deduction of the amounts you currently have available to put in the store. How do you plan to get the rest of the money - if you need it? Many people start small by using their credit cards to finance. Remember to include your living expenses for at least six months.
h. The Financials. This is where all the accounting and cost analysis for new business is located. Break-even analysis, cost analysis and forecasts for the first three years should give you a standard for evaluating whether you meet the objectives.
Addendum I.: This covers everything that may be important to your business operation. Include lists, phone numbers, mentors, useful web addresses, financial information, etc.
Final Stage
Evaluate all the information you have gathered. If the business plan seems viable, and then give it to someone with business experience or someone you trust, or perhaps your bank, your accountant or lawyer, and get a second and third opinions. Consider their suggestions and correct any errors. With their expertise, from the beginning.
This is just the beginning steps of the new company. There is much more to do, but once you get through this I will have much more you can do.
Now, if you decide to buy an existing business from someone, so you still need to go through all the preliminary stages. The data will be much easier, because there should be a Financials, trade secrets, etc. easily accessible.
On the other hand, if you decide to buy a new franchise, the series offers nearly all the information publicly. It will still be special to your business.
The easiest and the last option is to start an online business. The costs are so low and the market so large that a four-step process is reduced to about 70%. You still need to do all the steps, but because of the cost, the schedule is much faster.
Consult your plan regularly to ensure you stay on track. If done correctly, there is no reason not to succeed in your business.
* If you are an Internet business to create folders in your computer "in the name of the company." What does your email program. Receipts, for example, online shopping and can be kept together rather than scattered throughout the hard drive. If you do different projects, to keep each other XL files, and add the tag "leaves" as needed.
His decision to start a new business was done. Now, what to do? Sometimes it's a bit overwhelming to see where you really start the process. Look at yourself first? What is an estimate of how much will it cost? Should I get commodity agreements before finding the markets? In the event that prior to advertising, or simply make an announcement? Who do I hire first, if anyone at all? There are hundreds of similar issues facing start-ups.
After 30 + years, with the opening of new businesses and existing businesses to analyze, I have compiled a guide for the first steps to starting a small business. You, as a new entrepreneur, buying an existing business or buying a franchise, or perhaps start a home business, resource planning business are the same. What's different business strategies, start-up costs, business opportunities and step by step instructions available to start a small business.
So lets get right. All the commands to start a business degree. Well, it is also great, and it is certainly necessary, but organized before we go.
* Step 1 Get file folders and label them as follows:
- Products - All you have to do with what you sell or service.
- Finance - Where is the money comes from seeds, cost estimates, is where the money goes.
- Receipts - All the money spent so far.
- Organization - what form this new company intends to take.
- Advertising and Marketing - All new ideas to generate revenue for the company.
- Government - Permits, licenses, new business tax information, etc.
- Strategy - What is this new company is all about and how you are going to do it.
- Locations - Do you rent space, Realtor information - or DNS, the Internet.
- People - all of which are included and what is their involvement, joint venture partners.
Use these files for each bit of information you have gathered about starting your new business. If you need other categories, then do what is necessary. However, try to think in terms of fewer files and nothing else. It is easier to find and your mind will quickly adapt to the organization.
Step 2
Once you have collected the information, the next step in starting a new business is due diligence - a legal term used to determine if all that was offered in reality, really. But the same practical approach when buying a business can use when starting a new business. Use the information you've gathered to present a realistic size of your market and the income you expect to receive on a monthly basis. If your income is sufficient to cover the cost of what you can expect to run the business operation so that you can move on to the next step. If not, then you need to develop your market, change your product, reduce costs or to recommence. Let's be realistic here. Be smart.
Step 3
Now you can put together a complete business plan, which includes the following:
a. Statement of Intent (some call it a summary)
b. Market Analysis - Development of the other using the information in Step 2 and really get into the details of how you will address the market for a new product or service. You also need to get really competitive markets primary and secondary.
C. Description of Activity - What are you trying to do and how do you make money from your new business start-ups? Last few pieces of the whole concept of your new business.
d. Organization Configuration - what kind of business that will do. Will it be a sole proprietorship, a corporation, a partnership? Who is involved, what they will contribute, and how you clean it? What will the management structure will be perfect? Who answers to whom? You need that kind of things discussed at the start or be a further complicating factor.
e. Sales and Marketing. Details here cover all areas, even those that are not practical for the first year or two. It takes a variety of methods to implement and support their sales. Make sure you know all your competition is selling and how well they sell.
f. the products. Available for all products or services, you are going to sell a new business.The information (with real brand, size, etc.) can be put behind the addition of a new business plan. But the total package of what is sold is justified.
g. Capital requirements - How much money will need to start and operate your new business with the deduction of the amounts you currently have available to put in the store. How do you plan to get the rest of the money - if you need it? Many people start small by using their credit cards to finance. Remember to include your living expenses for at least six months.
h. The Financials. This is where all the accounting and cost analysis for new business is located. Break-even analysis, cost analysis and forecasts for the first three years should give you a standard for evaluating whether you meet the objectives.
Addendum I.: This covers everything that may be important to your business operation. Include lists, phone numbers, mentors, useful web addresses, financial information, etc.
Final Stage
Evaluate all the information you have gathered. If the business plan seems viable, and then give it to someone with business experience or someone you trust, or perhaps your bank, your accountant or lawyer, and get a second and third opinions. Consider their suggestions and correct any errors. With their expertise, from the beginning.
This is just the beginning steps of the new company. There is much more to do, but once you get through this I will have much more you can do.
Now, if you decide to buy an existing business from someone, so you still need to go through all the preliminary stages. The data will be much easier, because there should be a Financials, trade secrets, etc. easily accessible.
On the other hand, if you decide to buy a new franchise, the series offers nearly all the information publicly. It will still be special to your business.
The easiest and the last option is to start an online business. The costs are so low and the market so large that a four-step process is reduced to about 70%. You still need to do all the steps, but because of the cost, the schedule is much faster.
Consult your plan regularly to ensure you stay on track. If done correctly, there is no reason not to succeed in your business.
* If you are an Internet business to create folders in your computer "in the name of the company." What does your email program. Receipts, for example, online shopping and can be kept together rather than scattered throughout the hard drive. If you do different projects, to keep each other XL files, and add the tag "leaves" as needed.
This entry was posted
on Wednesday, November 9, 2011
at 10:13 AM
and is filed under
Starting a New Business
. You can follow any responses to this entry through the
comments feed
.