November 28, 2014

Small Business Startup: Where To Begin

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There are many good reasons to start your own business from the independence it can bring to your lifestyle to the noble role you can play in helping to grow the economy, create jobs and opportunity and improve the world through a great product or service. In fact, the hardest part about becoming an entrepreneur is figuring out where to start. Whether you have some knowledge already or are going on a vague notion that this option may be for you, we hope this roundup will be a place to start. Good luck on your journey!

Self-development

Celebrating Independence Day with entrepreneurship. As July 4 approaches, serial entrepreneur Amy Lindgren suggests one way to declare independence in your own life may be to start your own business. Whether your ultimate goal is improved control over finances or over your own life and the way you live it, starting either a full-time or side business may be a possible answer. The Atlanta Journal-Constitution

Don’t forget creativity. If being creative isn’t a prerequisite for starting a business, maybe it should be. Let’s face it. It takes a lot of creativity to start a small business from nothing. The good news is that you can teach yourself a more creative way of thinking. Learn the steps to become a creative entrepreneur when pursuing your startup no matter how small that business may be. Small Business Trends

Finance

Five tips for bootstrapping your startup. When you do decide to start your business, resources including money will probably be tight. You may have heard that getting a small business loan can be tough in these challenging times. Fortunately, this isn’t a deterrent for most entrepreneurs. Here’s how to start your business without loans or investment. Fox Small Business Center

Helping small business can be good business. Check out this story about a large global brand giving small, local, even underprivileged businesses a leg up. Could larger brands be the key to building your small startup too? Though many small business owners may think of larger businesses only as competition with no reason to lend a helping hand, the fact is that small businesses can become valuable customers to larger brands in the long run. Can you find a larger partner with a vested interest in your success? Modern Tire Dealer

Looking for funding? Go sell something! That advice may sound obvious, even glib. And it’s more surprising when you consider the source. Fred Wilson may make a living funding major tech startups like Twitter, but the advice he gives to entrepreneurs is that there are many approaches to starting a business. One may be to take stock of the services/products you have right now. Are there any that could be generating cash flow today?  Huffington Post

Legal

Where is the best place to start your business? You may have heard that, for lots reasons including taxes, there are places more friendly to businesses and that the best place to start or at least incorporate your business might be there instead of where you live. But incorporation expert Nellie Akalp warns against decisions based on just a few factors that can ignore the bigger picture. When deciding where to start your next venture, Nellie suggests that be it ever so humble, there’s no place like home. Small Business Trends

Strategy

How to differentiate your brand. You may have a business model worked out for your startup, but to prepare for a truly competitive market (depending on the product or service you plan to offer) it’s also necessary to differentiate yourself from the competition out there. What makes your startup different? The answer to this question could determine the success or failure of your company no matter what your product or service might be. 365 Days of Startups

The key to success is doing one thing well. When starting a business, don’t get carried away with the number of products and services you are hoping to offer. Focus instead on a few things you can do well. Becoming a “master” in a few areas will develop your brand, distinguish you from competitors and make it easier to share what you do. 365 Days of Startups 

Research

The importance of optimism. Optimism is an important component of any small business startup. Looking out at the world or reading the newspaper, it may be hard to be remain upbeat. But one group of entrepreneurs and small business people at least seem more positive than others about the future. What can we learn from them in order to improve our own chances for success as entrepreneurs? The Globe and Mail 

Why outlook is not always based on success. Interestingly, the groups found to have the best outlooks about their businesses, aren’t those who have enjoyed the greatest success thus far. So this means that outlook or optimism may not be tied only to circumstances. It is certain that the persistence likely from an entrepreneur with a positive outlook will pay off in the long run. How can entrepreneurs stay positive enough to see success eventually in their own ventures? WSJ

2 Comments ▼

2 Reactions

  1. This was an interesting read. More qualitative than quantitive, yet well rounded.

    Good advice.

  2. Yeah it really interesting read..Starting the business means many things come into picture..But apart from all of that selecting the place where to start is crucial one..So,this tips will be really useful…

    Sowrabh Sharma “Sab”

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