Top tips for starting a business that will succeed

Discussion in 'Starting a Business' started by stepheny, Feb 18, 2010.

  1. stepheny

    stepheny
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    Hi

    Do the research. You'll do a lot of research working through a business plan, but that's just the start. You need to become an expert on your industry, products and services, if you're not already. Joining related industry or professional associations before you start your business is a great idea.

    Get professional help. On the other hand, just because you run a small business, doesn't mean you have to be an expert on everything. If you're not an accountant or bookkeeper, hire one (or both). If you need to write up a contract, and you're not a lawyer, hire one. You will waste more time and possibly money in the long run trying to do things yourself that you're not qualified to do.

    Get the money lined up. Save up if you have to. Approach potential investors and lenders. Figure out your financial fall-back plan. Don't expect to start a business and then walk into a bank and get money. Traditional lenders don't like new ideas and don't like businesses without proven track records.

    Be professional from the beginning. Everything about you and the way you do business needs to let people know that you are a professional running a serious business. That means getting all the accoutrements such as professional business cards, a business phone and a business email address, and treating people in a professional, courteous manner.

    Keep sharing and reading
    Thanks
     
  2. Business Forms

    Business Forms
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    heyyy nice post.. :) when ever stating a new business You’re going to devote a lot of time and energy to starting a business and building it into a successful enterprise...don’t do it alone.... u need a support while you’re starting a business and afterwards.... A family member or friend that you can bounce ideas off and who will listen sympathetically to the latest businses start up crisis is invaluable....do the networking. make the contacts. sell or even give away your products or services....Get the money lined up is must.. good luck
     
  3. mggc

    mggc
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    This thread is very informative. Thanks for sharing this with us.

    Starting up a business is really a hard work and you need to be passionate about you do. You need to be patient and you also need help from people you can trust. these people will help you with fresh and unique ideas. You'll need their opinion too.

    You should also have a good business plan, something that you need to be knowledgeable about, all the hassle and dazzle of your business will be your ground, so you need to be very careful and be ready for pressures and competitions. :)

    Make your business a success by starting with yourself. Know yourself more and by that, you'll have a good idea of knowing clients and customers.
     
  4. ASAmoto

    ASAmoto
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    Employees can be a real minefield. The right ones will add value to your business and help you scale up. Bad employees will cause untold amounts of damage and could destroy your business around you.
     
  5. chris34

    chris34
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    Hi

    Among all the points 1st one is very important point. Because anyone should do the enough research regarding all the factors like demand, margin, risk etc.. So if anyone had done enough & proper research so that will be very useful to him...!!

    Thanks
     
  6. KCLaw

    KCLaw
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    Great post!! Thanks for sharing those information with us. I don't have yet a business but I plan to have one. I'm not sure if what kind of business I would put up that suite for me. That's the reason why I like your post because from this I will know some tips on beginners.
     
  7. eddane

    eddane
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    You can find some really good templates for business plans on the internet.

    It took me a couple of days to get my b plan together.

    Ed
     
  8. Word

    Word
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    I would also suggest picking a business that you are passionate about.

    If you're not passionate, your not going to focus fully on it, and you're not going to outlast the tough times.
     
  9. gtt

    gtt
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    I've once made a mistake and failed running my computer business before and TIME MISMANAGEMENT is one aspect that caused it.

    Staying FOCUSED is a very important factor that I've learned when you're running a business. We know that there are always several things constantly competing for our time, both personal and professional aspects, so we must know how to prioritize things constantly.
     

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