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5 Tips for Starting Successful Business



5 Tips for Starting a Successful Business

There are literally thousands of jobs in any industry that are stepping stones to a better paycheck and lifestyle. Savvy workers who have some skills, including medical assistants or construction workers, can create their own businesses over time. The steps to independent employment take perseverance and networking with others to make any business idea successful.


Apply Your Trade

Whether you attended a trade school or a four-year college, you have skills that you use each day. Phlebotomists, welders and secretaries all have critical skills that are easily translated into a new business. Take what you know and build on it by thinking about what you want to offer the world. You may want to start your own food truck business, construction firm or even professional writing consultancy with your skills. Use the skills that make you passionate about working so that you have a natural motivation to make the business work.

Angel Investors

Unless you are personally wealthy, a new business will require some investment from other parties. Referred to as angel investors, these personal contacts provide you with funds to start the company, usually with a small profit percentage in return. It may be necessary to search out these investors, such as at a local business meeting at city hall. Mingling and explaining your goals are critical skills to use when meeting potential investors. They typically need to like you and your vision to offer any substantial funds.

Start Small

Don't start out by buying a huge building and thousands of dollars of inventory. Starting small is the best way to get your feet wet in business. Rent or lease a storefront, if necessary, and man the counter yourself. There's no need to add employees in the beginning stages. Purchase core items you need for your product or service, but allow other secondary items to be "order only." Most small businesses have very little cash flow during their initial few months of life.

Educate Yourself

Although you may have a lot of skills to start your business with strength, everyone can always learn something new. Consider taking college classes to earn a degree in your field. Even earn a degree in business, management or accounting. You may have the skills to repair a device, for instance, but balancing the general ledger could be a brand-new experience. You need to understand nearly every facet of the business to make it work.

Be Part of the Growth

Once the business is moving steadily along, don't become jaded and hide back in an office. Involve yourself on every level of the company. Go out on a job site, for example, to see how your workers manage their time. Help shipping and receiving with their duties to see where efficiency can be improved. Even talk to clients walking in the door about the newest product or service. An involved business owner reflects positively on the entire operation along with boosting employee morale.

From working directly with your employees to securing investors, running your own business is possible with just a few skills initially. However, it's critical to continue your education to learn more about business growth and steady profits. Successful entrepreneurs like Max Gorin of Lifeline Ambulance continue to learn and apply their skills to an ever-changing workplace.

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10 comments :

  1. Good pointers for anyone looking to start a business. I would love to work from home doing something, but I am clueless as to what to do. Maybe I'll figure this out for myself one day.

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    Replies
    1. You are working from home :d as a writer and blogger. But you can also run a business too. :-d

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  2. Starting a business takes time and a lot of work. I know I've started my own business, well I am nearly ready to make it happen. It's not easy though because I want to make it into this massive company so bad, but right now it's fairly small, it's me and a few employees of mine and that's it, but we plan to make it grow into something huge, something special. I still haven't gotten any investors yet, but I will look more into that.

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    Replies
    1. Good luck to you! Starting a business is so hard. I used to run a business, after 1 year, I was so burnt out and just wanted to be free. It's hard to commit every day, you have to have some relief.

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  3. I have a few ideas for a business that I'd like to get going with very soon. I already have an investor and hopefully I will be ready to start soon. I'm starting really small, which I am okay with. But I do hope to grow at a good pace. I never heard of an angel investor, but I will look into finding one soon just for extra help.

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    Replies
    1. Me either, but interesting enough to find out more details about it. I work better with partners than on my own. A business takes a lot of work, and one can't do everything on his own.

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  4. I want to start a sort of freelance business mainly because I've worked in the freelance world before. I figure if I start my own business offering various ways for people to find jobs in freelance work, I could have a real business on my hands. Of course there are a lot of freelance sites, so I'd need to figure out a way of making it unique and different, and that wont be easy. Anyways, I know some people who might be interested and I know not to hire too many at the start. We'll see how things go.

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    1. Freelance is a great side work, for me, because I have a family, I am always looking for stability. I think freelancing is good if you can dedicate the first few years to build your business. Good luck.

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  5. I actually invested in a local business about five years ago. It's still running strong and I make a decent amount from it every year. Aside from that, I really want to get into my own business and that's been a dream of mine since I was a kid. I already have ideas and a plan laid out for when I begin, and I have plans to hire a few people, but that will be it, nothing big right off the bat.

    Anyways I also studied business and marketing, so I think I'll survive starting my own business. I can't wait, it's going to be so much fun.

    ReplyDelete
    Replies
    1. That's cool. I wish I have the guts to start a business locally. I think nothing will come easy for me. But, I also think that I am destine for something more than this. Just not sure if it's coming soon or what? =))

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