Start A Business
Start by answering 20 questions,
- Why do I want to start a business?
- What business is of interest to me?
- Where will I find my customers? (My Market)
- What specific products or services will I provide?
- How much time and money will be needed to get started?
- How are my products or services different than the competition?
- Where is the ideal location for my business?
- How many people are required to operate efficiently?
- Who would my suppliers be?
- How many competitors already exist in my target market?
- How will I market online, or compete with on-line.
- Will I require a loan?
- Are there any Federal, State or Local subsidies / Grants available to me?
- What is my break-even point? (Products or services sold / Month to absorb all overhead costs?)
- What will be the theoretical selling price of my product after considering costs of Raw Materials and Overhead, (Margin)?
- What legal structure is best for my business?
- Have I considered all of the taxes to be paid?
- What kind of insurance do I need?
- Who will manage the business?
- How will I advertise?
Write Your Business Plan
Based on answers to the 20 questions above, begin to draft a Business Plan.