Tips for starting your own small business

Before you even bring the business together, get all your prework done first.

Do not go through the expense and hassle of officially setting up a business until you have made the required effort to demonstrate that you have a feasible product or service … that people will actually pay for.

Below are some of the prework:

First have an idea: Ideas are the simplest component of the prework. Ideas that might make a lot of money are nice. Also nice are the ideas you’re really interested in. It is best to have ideas that combine your interest, generate income and solve a real problem. Do not start a company unless you’re 100 percent behind the concept and you can visualize yourself working on it for over 5 years.

Discover how your company is going to make on Day 1Ensure you know how you’re going to generate income and make sure that it makes sense to support you personally.

 

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