Start a Small Business
Edited by Maria Sharon Ubando, Lynn, Robbi, Eng
Who would not want to own a business? Being an employee for life is not everyone's goal. For those who are well-motivated, it is preferable to work for a while, then save for a business in which they are interested. When we say business, you probably can't or don't need to jump into having a big corporation at once, unless you have the capital to do so. Great things start from small beginnings, they say. Most people have to start with thinking about what small business they would like to start with. If you have a few ideas, read on for some tips on how you can get started.
Steps in Starting a Small Business
- 2Be Open to Fresh Ideas. It is not bad to start a business which is already existing, but it would also be nice if you introduce something new, like a new product or a service. You may want to ask friends and family for suggestions. As the saying goes, "Two heads are better than one." Always think outside of the box.Advertisement
- 3Do your research. In any business, may it be big or small, a feasibility study needs to be done. Check out the competition in the market. How many other businesses like yours are operating in the area? What are their marketing strategies? Where are they located? These are a few of the important things that you have to look into.
- 8Do not stop learning. Read business books or have a crash course on businesses so you will always be updated on the new business trends.
Always be open to risk. Business can be a gamble; you may win or lose it, so it is important that you prepare for either.
Recent edits by: Robbi, Lynn, Maria Sharon Ubando