Financial freedom, yours at last Starting your own small business can be the most rewarding experience of your life.
You can get out from under the thumb of your oppressive boss and feel the full, unadulterated freedom of being out of the corporate machine at last.
You'll be your own boss.
You can do whatever you want, whenever you want.
However, 80% of new businesses fail in the first five years.
In order to keep you venture from being just another flash in the pan, you've got to follow a couple of simple steps.
Make a business plan Start by figuring out how your business is going to work.
What good or service will you be selling? Who is your target customer? What makes you business different or better than your competitors? You can learn from established businesses in the same line of work as your startup: what have they done to rise above the average company and become market leaders? Once you have this figured out, the next step is to figure out where the money is coming from.
Are you going to seek a bank loan? How can you convince the loan officer that your idea is worth the bank's money? Do you have wealthy friends or family who will give you capital? This sort of thing is what you need to work out.
Go for it Now that you know what you're going to do and who's paying for it, get out there and get started! If you're planning a brick and mortar establishment, research what property near you has the best rent rates, while keeping in mind that location is key for any effective business.
If it's going to be an internet business, look into hiring a professional web designer.
Then, find some competent, trustworthy employees, and open your doors!