Are you planning a new business, also known
as a startup? Or, do you want to expand your
current business? If your answer is yes, to one
of these questions, congratulations!
If this is your first business venture, the steps
you must take to start your new business can
"appear" to be endless. Know that your life
changing decision is worth any temporary
discomfort. Enjoy each step you take. You are
building a solid foundation for your business.
Sooner than later, life as you know it today
will not be the same.
Problems can be opportunities to improve and
grow your business. Adversities can be your
best friend and compass. They can guide you
to innovative solutions. The choice to use
problems and adversities as an enemy or your
best friend and guide to success is yours.
Successful small businesses are vital to a healthy
economy. Because your business is so valuable,
financial institutions, state and federal business
experts are available to help you succeed. State
and Federal agencies offer free seminars, work-
shops, and conferences. If you cannot physically
attend those events, Webinar is your best option.
Those same agencies also offer online webcast
training.
Business Must-Do-List:
To legally drive a car on public roads, you must
have a driver's license. To play an instrument,
you must train and practice. The formula to
succeed in business is the same. Specific tasks
must be fully developed, implemented and
managed for your business to succeed.
Business must-do list is many.
A tiny part of the most important must-do list
required to start, operate and grow a profitable
business is covered in this article.
Enjoy and love what you're doing. Not loving
and enjoying what you're doing, odds are you will
not succeed.
Take what you're doing seriously. You cannot
expect to be effective and successful in business
unless you truly believe in your business and in
the goods and services you provide.
Plan everything using a pen and paper.
Planning every aspect of your business is an
absolute must. Your planning will build positive
habits that every business owner should develop,
implement, and maintain. Business planning is
very important. It requires you to analyze each
business situation, research and compile data, and
make conclusions based mainly on the facts as
revealed through the research.
Business planning is your Personal Road Map.
Your goals and how you will achieve them, is on
paper. You can use the plan that you create as a
map to take you from point A to Z.
"Desire is the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire which transcends everything." Napoleon Hill
Welcome to the exciting World of Business Ownership in America!
You can also use it as a “mile marker” to measure the
success of each individual plan or segment within the
plan.
Manage money wisely. The lifeblood of any business
enterprise is cash flow. You need it to buy inventory,
pay for services, promote and market your business,
repair and replace tools and equipment, and pay
yourself so that you can continue to work. All business
owners must become wise money managers to ensure
that the cash keeps flowing and the bills get paid.
Two aspects to wise money management.
1. Income is the money you receive from clients
in exchange for your goods and or services.
2. Expenses are the money you spend on inventory,
supplies, wages and other items required to keep
your business operating.
Remember, business is about your customers or
clients. Your business is not about the products or
services you sell.
Your business is not about the prices that you charge
for goods and services.
Your business is not about your competition and how to
beat them.
Your business is about your customers or clients,
period.
After all, your clients or customers are the people that
will ultimately decide if your business goes boom or
bust.
Everything you do in business must be client focused,
including your policies, warranties, payment options,
operating hours, presentations, advertising and
promotional campaigns and web site.
In addition, you must know who your clients or
customers are inside out and upside down.
Build an Elite Business Team. No one can build a
successful business alone. Surround yourself with a
team that is equally committed to the business and its
success.
Your business team may include business alliances,
industry and business associations, local or federal
government, sub-contractors, suppliers, families or
friends.
Know your strengths and weaknesses. Find, recruit, and
assign the best experts who excel in your weaknesses.
Invest in yourself. Continuous learning is an exciting
bonus. Embrace it with passion.
Entrepreneurs buy and read business and marketing
books, magazines, reports, journals, newsletters,
websites and industry publications.
Business Road Map
Joining business associations, clubs, trade
organizations and network with other business
people to learn insider secrets and ways to do
things better. Entrepreneurs never stop
investing in the most powerful, effective and
best business resources at their immediate
disposal-- themselves.
Starting Your Business - First Stop
Get expert advice on how to start, finance, and
manage your business.
also offers comprehensive
A to Z business resources.
Loans and grants, contracting, counseling and
training are just a click away.
Nearly anything
you want or
need to know
about growing
and doing
business in the United States and abroad are
available on their user friendly website.
Washington State Master Business License
and State Tax go to:
Check your City and County for additional
business licenses, permits and other
requirements.
If your business is not a Sole Proprietor,
go to: Washington Secretary of State.
Federal Tax - IRS
NEW 2010 Rules
A Friendly Reminder
The above web sites are filled with lots of
helpful tools and opportunities to successfully
start and grow your business. Have Fun!
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