5 answers
6
Asked 478 views

how are can you start a small business?

how are you going to make a small business by knowing your stuff like items, and how much is your income.

career business money small-business income
Answer This

+25 Karma if successful
From: You
To: Friend
Subject: Career question for you
6

5 answers

0
Updated
Share a link to this answer
Share a link to this answer

Tiffany’s Answer

Hello! Being a small business owner can be very rewarding because you set your own hours and determine what you do/how you work. The down side is that you do not make a lot of money in the beginning and you have to be very disciplined & determined to succeed. If you are someone who gets easily distracted or are not very motivated, owning a small business is a real struggle.

I've outlined some important steps and tips to get you started below. Good luck in your next entrepreneurial step!

Tiffany recommends the following next steps:

The best way to get started is to 1) figure out what product/service you can offer based on your skills.
Then 2) start small, as a "side hustle" while you have another stream of income.
Make connections and don't be afraid to use them to talk about your business, get advice, ask whom they might know who could use your services/products or provide you with the materials you need.
Finally, set up a schedule on your phone to keep you orgnized. This includes setting aside time to take care of reciepts, expense, marketing your business, etc.
0
0
Updated
Share a link to this answer
Share a link to this answer

Mike’s Answer

If you have knowledge of an industry and passion for entrepreneurship, it's great to start a business. The first decision is whether this will be a part-time side business that slowly grows or a full time endeavor. Realize that knowing an industry is not enough to run a business as you will have some responsibilities in the areas of legal, accounting, sales marketing, and possibly personnel management. There are some great free resources to advise you a little in these areas. Look for a local SCORE chapter or SBDC office in your area. They have qualified advisors ready to help you, but just know ultimately that you (or someone you hire) has to do the work. Also, have a realistic vision of profitability. Data shows that most businesses are not profitable until year 3 and many close before that happens. Make sure you are in a position to pay your bills during that early transition period.
0
0
Updated
Share a link to this answer
Share a link to this answer

Daniel’s Answer

This is a great question Alex!

I would think about the two steps below and really put some thought into your business.

Come up with a business plan. This would include items such as operations, location, capital/funding, vision/mission statement etc. You can easily get lost in the weeds on this part. Don't get caught up in details that you can figure out later. Think big picture and ask yourself what is your business really trying to accomplish? That is always a good starting point on a business plan!

Lastly, come up with different business goals and set dates when you want to accomplish them. Setting a timeline will help you stay on track and know where you are in the process. It is very difficult but don't let yourself get caught up in the whirlwind of the "day to day." Meaning, set yourself and the business up with clear goals and do your best to not let the "daily fires" use up all your time. Inadvertently, you will have to attend to some of these daily fires but make sure you block off time to keep the vison of the company alive.

Out of the many business books I have read, if I could only suggest two books to you, it would be the books below. Hope these thoughts help and good luck on the journey!

Daniel recommends the following next steps:

Read Dream Big by Bob Goff
Read the The 4 Disciplines of Execution: Achieving Your Wildly Important Goals by Chris McChesney, Sean Covey, and Jim Huling
0
0
Updated
Share a link to this answer
Share a link to this answer

Michael’s Answer

To start a small business, you will need a solid business plan, sufficient funds to cover startup costs and ongoing expenses, a legal structure such as a sole proprietorship or LLC, necessary permits and licenses, and a strong understanding of the market and competition. It is also important to have a clear idea of your target customer base and a plan for marketing and advertising your business.

The amount you will be paid as a small business owner can vary widely depending on the success and profitability of your business. It is important to set realistic financial goals and monitor your business's financial performance regularly. Seeking out assistance from government resources, such as the Small Business Administration or your local Department of Labor, can provide valuable guidance on starting and running a successful small business
0
0
Updated
Share a link to this answer
Share a link to this answer

PRASANJIT’s Answer

Please follow the below steps to start small business:

Start with a Good Business Idea. If you're wondering how to start a business, it may be easier than you think.
Conduct Research and market survey about your Business Idea.
Write a Business Plan.
Make Your New Business Official.
Know Your Finances.
Protect Your Business.
Build Your Business.
0