| Who said that you do not need a guide for starting a | | | | in mind, it is time to shop around a bit and compare |
| business? Starting a business is not easy. If it were, | | | | prices. Be prepared for steep prices for small space in |
| everyone would be doing it. It's definitely not impossible | | | | comparison to residential property. |
| though. The key is knowing where and how to start. | | | | Step 3. |
| Hopefully this simple guide to starting a business will | | | | Get some funding. Once you have a business plan |
| help you with just that. | | | | ready, you can present it to banks and try to get a |
| Step 1: | | | | loan. Alternatively, you can try and find an investor or |
| Write a business plan. If you are building a business | | | | two to give you some funding in exchange for a |
| from scratch, you definitely need one of these. Not | | | | percentage of your profits. Either way, prepare for a |
| only will it keep you focused and organized, but it will | | | | lot of negotiating and a bit of a wait. Getting a loan |
| also help with funding. Banks and private investors | | | | approved, no matter the source, takes time. |
| want to see that their money is going to be well spent | | | | Step 4. |
| and that your plan is solid enough that they're likely to | | | | Take care of the legalities. Before you can legally |
| get their money back. | | | | open, you will need to register your business, apply for |
| Step 2: | | | | a tax I.D. number, and make sure any and all permits |
| Location, location, location. I know you've heard this one | | | | and/or licenses needed are at hand and up to date. |
| before. If your business is not home or internet based, | | | | This sounds like a lot of work, and it is, but it is better |
| you will need a physical commercial space. Do | | | | than getting financially crippling fines, or even getting |
| research and figure out what area would be best for | | | | shut down. In addition, if you're not a sole proprietor, |
| the type of services or products you offer. You will | | | | you'll need to learn the ins and out of hiring employees |
| have to balance that with things like commute, likelihood | | | | and related things like worker's comp, unemployment, |
| of disaster (I.e., robbery, flood, etc), and surrounding | | | | and things like that. |
| commercial buildings. Once you've got a general area | | | | Step 5. |