Top 10 Tips For Starting A Business That Will Succeed Business Start Up Advice To Ensure Success

Top 10 Tips For Starting A Business That Will Succeed
Business Start Up Advice To Ensure Success

1) Do what you love. You’re going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it’s really important that you truly deeply enjoy what you do, whether it be running fishing charters, creating pottery or providing financial advice.

2) Start your business while you’re still employed. How long can most people live without money? Not long. And it may be a long time before your new business actually makes any profits. Being employed while you’re starting your business means money in your pocket while you’re going through the business start up process.

3) Don’t do it alone. You NEED a support system while you’re starting a business (and afterwards). A family member or friend that you can bounce ideas off and who will listen sympathetically to the latest business start up crisis is invaluable. Even better, find a mentor or, if you qualify, apply for a business start up program. Experienced guidance is the best support system of all.

4) Get clients or customers first. Don’t wait until you’ve officially started your business to line these up, because your business can’t survive without them. Do the networking. Make the contacts. Sell or even give away your products or services. You can’t start marketing too soon.

5) Write a business plan. The main reason for doing a business plan first is that it can help you avoid sinking your time and money into starting a business that will NOT succeed for other good reasons.

6) Do the research. You’ll do a lot of research working through a business plan, but that’s just a start. You need to become an expert on your industry, products and services, if you’re not already. Joining related industry or professional associations before you start your business is a great idea.

7) Get professional help. On the other hand, just because you run a small business, doesn’t mean you have to be an expert on everything. If you’re not an accountant or bookkeeper, hire one (or both). If you need to write up a contract, and you’re not a lawyer, hire one. You will waste more time and possibly money in the long run trying to do things yourself that you’re not qualified to do.

8) Get the money lined up. Save up if you have to. Approach potential investors and lenders. Figure our your financial fallback plan. Don’t expect to start a business and then walk into a bank and get money. Traditional lenders don’t like new ideas and don’t like businesses without proven track records.

9) Be professional from the get-go. Everything about you and the way you do business needs to let people know that you are a professional running a serious business. That means getting all the accoutrements such as professional business cards, a business phone and a business email address, and treating people in a professional, courteous manner.

10) Get the legal and tax issues right the first time. It’s much more difficult and expensive to unsnarl a mess afterwards. Does your business need to be registered? Will you have to charge GST or PST? Will you have to have Workers’ Compensation Insurance or deal with payroll taxes? How will the form of business you choose affect your income tax situation? Learn what your legal and tax responsibilities are before you start your business and operate accordingly.

English Edification Enrichment (12)

What is the meaning and origin of the expression "once in a blue moon"? When something happens "once in a blue moon" it happens very rarely. Here are a few examples, * My brother George lives in Russia. I see him once in a blue moon. * We have visitors once in a blue moon. * How often does Tendulkar come to office? Once in a blue moon. There are several explanations as to the origin of this expression. According to scientists, whenever a volcano erupts, the sulphur and dust particles that are thrown up into the atmosphere often cause the moon to appear blue for some time. When the volcano on Krakatoa (an island between Java and Sumatra) exploded in 1883, rocks were hurled thirty miles high into the air and dust from the volcano fell nearly three thousands miles away. After this eruption the moon looked blue for several days. Luckily for us, volcanoes don't erupt every day, so a blue moon continues to be a rare phenomenon. Another explanation offered by scholar...

Growth & Development

I've noticed that the more sternly I speak to my kids — for example, after they've run into the street without looking — the more distraught they get. How can I make sure they understand the seriousness of certain situations without making them feel worse? As the saying goes, "Desperate times call for desperate measures." When your child's safety is at risk — whether he's run into the street, reached for an open flame, or gotten dangerously close to a pool — yelling, screaming, or crying out is a perfectly normal (and necessary!) response. After all, at that moment, you would do anything possible to get your child's attention and get him out of harm's way. After an episode like this, it's natural for kids to cry — and for you to want to apologize. But the truth is, your kids are likely crying in response to the fear and urgency in your voice, not because you've been "too stern." At times like these, it's OK to comfort them without...

English Edification Enrichment (17)

What is the difference between "plump" and "fat"? When an individual is plump or fat, he is overweight. The word "fat" has a negative connotation associated with it. When you say that someone is "fat", what you are implying is that he is overweight and doesn't present a pleasant sight. It is considered impolite to call someone fat to his face. The word "plump", on the other hand, is normally used to indicate approval. When you say that someone is plump, what you are implying is that the individual is overweight in a pleasant sort of way. In other words, you approve of the soft rounded body that the individual has! The individual though overweight is not unpleasant to look at. In the 60s and 70s many of our movie heroines were plump. Thanks & Regards.

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