Starting a Business

How to Run a Small Business

Owning a small business definitely has it's own unique challenges. Small business owners have to handle everything from financing, managing, selling, delivering, marketing, and more with little or no staff. But more importantly, you need to maintain the interest of all of your stakeholders, such as your customers, vendors, suppliers, staff members, and more. Being successful is a combination of knowing what you're doing and committing to a lot of hard work. Owning a small business can be extremely rewarding, both personally and financially. To help you succeed, I have compiled a list of tips on how to run a small business. Hopefully these tips help you overcome your obstacles or avoid them all together. 1. Create a business plan. Having a business plan is crucial to success. In your business plan, you will have your...

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Starting Your Plan

So, you've decided to write a business plan and you're ready to get started. Congratulations! You've just greatly increased the chances that your business venture will succeed. But before you start drafting your plan, you need to plan your draft. Probably the most important reason for a business plan is so that you can hold yourself accountable for the proposals and projections that is contains. When you own your own business, motivation is one of the key factors that determines success or failure. Having a set time-line for when things need to get done will keep yourself on track. You will also learn that business plans can be complicated. As you draft your plan, you will be making key decisions on serious matters such as what strategy you'll use to achieve your...

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Keep Your Business Plan Simple

Just twenty to thirty years ago, the average business plan was much longer and complex than what it is today. This may be due to the fact that they are more common than they used to be, it could just be a trend, or it could be because people are used to gathering information faster than in the past. Either way, a shorter business plan is what is expected in today's busy world. The trend now a days is to go back to the fundamentals, with solid projections and great analysis. An "easy to read" format is extremely important. If you want people to read your plan, you need to keep it simple. Don't confuse your business plan for something more than it is. Keep it simple and straightforward. Don't confuse...

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