Your own business, which brings satisfaction from the implementation of ideas and monetary profit, has every chance to become the work of a lifetime and continue to exist in future generations. To start your small business, you need to realize that you really want it.
Instructions
Step 1
Make a plan of action. Think carefully about all the steps to fulfill your desire and reflect them on paper. A working diary with the obligatory recording of all matters of any importance should become your first assistant.
Step 2
Think over your business idea. The main requirement for an idea is that it must be successful. Consider options for realizing your own creativity, experience and skills. List potential business ideas.
Step 3
Collect information. Carefully study the market for goods or services that you want to enter - working conditions, level of competition, examples of a successful start, etc.
Step 4
Make a business plan. A well-written business plan will allow you to realistically assess your capabilities, see the quantitative expression, calculate possible risks and failures. Enter into it all the necessary cost items, production scale, segment of potential buyers, ideas for further business promotion, tools for its expansion. Determine the amount of start-up capital.
Step 5
Identify the main sources of start-up capital. Calculate whether your savings are enough to start your own business or whether you need to attract outside capital.
Step 6
Come up with a name. Select the organizational and legal form, go through the registration procedure. You can choose the option of organizing a legal entity or becoming an individual entrepreneur.
Step 7
Organize an accounting system. Having an adequate accounting system will allow you to control your financial condition and pay taxes.
Step 8
Get permission. Go through the licensing process with your local authorities.
Step 9
Open a checking account. A checking account is required to start a small business.
Step 10
Rent a room. Examine the services offered and the size of the commission. Think over what types of communication, features of the premises will be required for smooth operation. Consider several options and choose a room that suits your needs.
