3 answers
Eliana
Student
Riverview, Florida
1
Question
Asked
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i'm trying to start my first small business and idk how?
i wanna sell stuff like coffee mugs and knitted blankets.
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3 answers
Wayne Archibald
Cybersecurity Associate Director here to share knowledge!
229
Answers
Annapolis Junction, Maryland
Updated
Wayne’s Answer
Hello Eliana! Embarking on a business journey requires careful planning, crucial financial choices, and the fulfillment of several legal requirements. To guide you through each step, I recommend you visit the website below. It's a great resource!
https://www.sba.gov/business-guide/10-steps-start-your-business/.
Believe in yourself and remember, fortune favors the brave!
Best wishes,
Wayne.
https://www.sba.gov/business-guide/10-steps-start-your-business/.
Believe in yourself and remember, fortune favors the brave!
Best wishes,
Wayne.
Daniel Maynes
Credit Manager
187
Answers
Dallas, Texas
Updated
Daniel’s Answer
Hi Eliana!
I would suggest the below 3 steps to help you start your own business.
1. You need to register your business with the Secretary of State (SOS). Most businesses register in the state where the business is actually located (HQ Address). At the same time you will need to decide the entity type for your business such as a LLC, Inc, LTD. Make sure you register with a state so your business can operate legally.
2. 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!
3. 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!
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
I would suggest the below 3 steps to help you start your own business.
1. You need to register your business with the Secretary of State (SOS). Most businesses register in the state where the business is actually located (HQ Address). At the same time you will need to decide the entity type for your business such as a LLC, Inc, LTD. Make sure you register with a state so your business can operate legally.
2. 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!
3. 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:
Jason J
Software Engineering
7
Answers
Bradenton, Florida
Updated
Jason’s Answer
Hello Eliana, I strongly recommend you explore your nearest SCORE chapter at https://www.score.org/
SCORE is passionately dedicated to nurturing thriving small business communities by offering mentoring and education. The experienced mentors at SCORE are there to guide you in refining your idea using tools like the Business Model Canvas. This will help you decide if it's a venture worth pursuing. Best of luck on your journey!
SCORE is passionately dedicated to nurturing thriving small business communities by offering mentoring and education. The experienced mentors at SCORE are there to guide you in refining your idea using tools like the Business Model Canvas. This will help you decide if it's a venture worth pursuing. Best of luck on your journey!