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Great! Go Explore endless business opportunities that are out there.
If you are serious about starting a business, take a professional advise. We here at A1 Accounting can certainly help you with that.
Here are 10 steps that I found on Startup Nation which I would like to share with you!
1) Create a Life plan: Make sure you really are ready to run the business. When starting new business, it requires a lot of attention. Best time to start a business is when you are well settled in life and you are ready for new opportunity.
2) Choosing a Business Model: Are you planning on starting something from home or buy a franchise? There are lot of options out there, go explore.
3) Create a Business Plan: Must do! As StartupNation mentioned, it is really as important as the final product/service itself.
4) Select a Business Structure: Sole Proprietorship, Partnership, Corporation or Limited Liability Companies? It really depends on what type of business you are going into. Unsure? Ask us!
5) Create Key Business Assets: StartupNation has discussed 7 type of assets in their article, depending on your business type, these may vary.
- Website Address
- Trademarks
- Copyrights
- Patents
- Provisional Applications for Patents
- Inventor’s Logs
- Confidentiality Agreements
6) Find the Funding: Depending on your long-term personal and business goals – identify which type of financing is right for you and your business type. Here is the list of some of the types:
- Bootstrapping
- Debt Financing
- Grants
- Friends and Family
- Angel Investors
- Factoring
- Venture Capitalists
7) Organize Logistics: “Accountants, lawyers, bankers, insurance agents—the big four—are some of the people that can help you get organized and put you on a path to starting up smart. These service providers will be instrumental as you grow, too.”
8) Find Great People: Great people = Great team! Having a right team is very important to the business and it’s growth.
9) Establish a Brand: Simple Question – Why should buyers come to you?
10) Market and Sell: This will help you to build on your brand identity. Again, when marketing, ask your self, why should buyers be interested in your business?
Detailed information is available on Startupnation.com
StartupNation.com