Startup Business Advice

Discussion in 'Starting a Business' started by bytrade001, Dec 6, 2011.

  1. bytrade001

    bytrade001
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    Business Assessment
    Before you begin any business, the first thing to do is assess the need for the business or its profit potential. Ask yourself if you have a product or service that people need. Ask yourself who your target market is and how you can reach them. The more information you have going in, the better your chance of getting your business off the ground. These are also things you will need to know to create the business plan you'll use to help secure financing if you don't have funds in place.

    Business Financing
    You need money to open and operate your business. Consider where these funds will come from. You can approach a bank for a small business loan. This will require a detailed business plan you can present, which should be created in the initial phase of your business venture. Research your market potential thoroughly, as well as your product or service's potential for success. A bank is more likely to back you if you present a plan they believe will be successful. Other avenues for financing include friends or people who invest in business ventures for a living. Always have papers drawn up with a lawyer when investors are involved.

    Startup Size
    Be cautious of starting too large. A business that has no history is at risk. Throwing too much money in too many directions can be a sure way to lose control. Start small and gradually build, using money from the business to expand. Narrow your focus in the beginning to help you better manage your products and services.

    Startup Business Advertising
    Advertising is an important element for any business. For a startup business, getting the word out about your venture is essential. Advertising should consume a good percentage of your startup funds. If you are limited in funds, advertise any way you can afford. Advertising possibilities range from simple fliers to radio and TV. In between, you have magazines and local newspapers. There's also the Internet, which opens the door to a world of potential customers. Get a company website and take advantage of free social networking sites to spread the word.
     
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    #1 bytrade001, Dec 6, 2011
    Last edited by a moderator: Dec 6, 2011
  2. jcworlditsme

    jcworlditsme
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    This is really good advice for anyone starting up a new business, I have to admit.
     
  3. golocomktg01

    golocomktg01
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    Starting up a business is simply to be thought but hard to be put into action. With the instant recognition of the public to the new ways how businesses work, more and more small businesses are now popping online. Entrepreneurs and small business beginners foresee the opportunity of establishing online business. As a start up online marketer you need to identify first what is your niche and how you will launch your business to the public. There are online marketers who are using the situation to makle bogus actions, that's why it is important to know the basic of how to start up an online small business.
    This is not about going with the flow moreover this is how to make a stand among the crowd that you wherein
     

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