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.: 1, 2, 3… Starting a Business
1, 2, 3… Starting a Business

Before start any business, there area basic issues for considering the new journey. Here is the basic of every new prospect should have in mind:

Business Plan Basics

A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.

Plan Your Work

The importance of a comprehensive, thoughtful business plan cannot be overemphasized. Much hinges on it: outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, and achievement of your goals and objectives. "The business plan is a necessity. If the person who wants to start a small business can't put a business plan together, he or she is in trouble," says Robert Krummer Jr., chairman of First Business Bank in Los Angeles. Despite the critical importance of a business plan, many entrepreneurs drag their feet when it comes to preparing a written document. They argue that their marketplace changes too fast for a business plan to be useful or that they just don't have enough time. But just as a builder won't begin construction without a blueprint, eager business owners shouldn't rush into new ventures without a business plan.

Before you begin writing your business plan, consider four core questions:

• What service or product does your business provide and what needs does it fill?
• Who are the potential customers for your product or service and why will they purchase it from you?
• How will you reach your potential customers?
• Where will you get the financial resources to start your business?

Checklist for Starting a Business

Owning a business is the dream of many Americans and Not American living in U.S, and starting that business converts dreams into reality for many folks. However, there is a gap between dreams and reality. Your dreams can only be achieved with careful planning. As an entrepreneur, you will need a plan to avoid pitfalls, to achieve your goals and to build a profitable business.

This checklist is designed to help you get started. It has seven key components:

• Identify Your Reasons;
• Self Analysis;
• Personal Skills and Experience;
• Finding a Niche;
• Market Analysis;
• Planning Your Startup;
• Finances

Besides, is recommended to stick to what you know best. Maybe your first impulse is to purchase an existing business or become a franchisee. Either approach will cost many thousands of dollars and most likely put you into where you have no experience. Well, chances of you lose money in your investment is medium to high. A better way is to focus in the industry where you have the most experience. Starting thinking in products or services where you have the most experience and that would benefit someone in your industry. Anyway, products or services that aren’t available easily and aren’t available at a reasonable price.

Assuming you’ll run the business in a small place or even in you kitchen table, you should own a computer and knows what expect to face with it. Starting a business only if careful analysis tell you it has the potential of making profits. But don’t expect make money immediately because you will have start up costs and a learning curve to get past. Only after 2 years, if you don’t make money and have not good prospects, you should consider folding it. But you will be successful and is time to get your business noticed. Starting doing it with the best and cheapest marketing tool available in all times: word of mouth. Than thinking about internet and send an email for all your friends and colleagues, because they need to know you are out there. A website can put a small local venture on equal footing with a global giant. But a website ready cost you money for design and money for maintenance. If you not have a budget, just leave it for letter when results and profits starting come in. Much important is to focus on what the business will do and what the founder will get out of it. Draw up a budget for what it will cost you each month until you become profitable. For the Small Business Administration help visit . In this site you will find a wealth of information about this issue.

Becoming a totally responsible entrepreneur is a life-long adventure. The tools you need are self-confidence, discipline, and most importantly, the courage to change. Begin with a goal you can accomplish from where you are today. Ask yourself, “What one behavior can I change to start my transformation?

Good luck!

Kisuccess Publishing & Marketing
19350 Sherman Way #139, Reseda, CA - 91335

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