If the current job market has you thinking about starting a business of your own, take some steps to increase the odds that your business will succeed.
Opening a business is the dream for many people. For guidance to help improve your chance of success, give us a call.
** Do a self assessment. To succeed you need good organization skills, people skills and confidence to make good decisions under pressure. Experience in the type of business your planning is a major factor.
**Do your homework. Consult trade associations, other successful business owners, governmental agencies, and professional advisors for information relating to your new business.
1) What’s the demand for your of product or service?
2) Target audience and their geographical location
3) Set pricing- attract customers yet maximize profits
4) Make your business stand out from the competition * Limit overhead expense- lease or buy your premises and equipment. If you only need an office to meet with clients, consider places that rent space on as- needed basis. Check out the beneifts of an enterprise zone, where taxes and even the cost of utilitites and phone service may be lower.
** Incorporate your research into a business plan. Have your accountant assist you so that your chances of obtaining the necessary start- up capital improve if you have a clear business plan.