| Setting Up Shop: A Guide To Business Startup |
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| Written by Shawna Rupper | |
| Wednesday, 09 July 2008 | |
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Page 1 of 2 When starting a new business there are many things that you need to have firmly in place before you begin in order to ensure your success. Many businesses fail within their first two years of operation, and the majority of those fail due to lack of proper preparation and planning. With careful business plans and budgets in place you greatly increase your chances of starting a very successful new business.
BudgetThe first and most important part of starting a new business is the creation of a very detailed budget. You need to consider all of your startup costs as well as your operational costs during your first few months of operations. All business go through a ramp up period of at least a couple of months before they are researching the kinds of sales that they want to achieve, and it is important to budget enough money to sustain your business during that establishing period. Marketing PlanThe second plan that you need to have firmly in place is the marketing plan. You need to decide what the best ways and arenas to advertise and get the word out about your business are. You also need to consider other very important marketing concepts such as branding. Effectively branding your company with things like logos and slogans is a great way to ensure that you can create a growing awareness and recognition of your company. The most successful marketing campaigns throughout history have been those that are very good at branding their products and their company. |
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The Importance of Incorporation??Thursday, 03 July 2008 | Joe Doyle Those wanting to start a business or entering into a business venture initially have an important decision to make: “Incorporate or not to incorporate, that is the question?” Those creating or running their own business have four basic structures to operate under. The entity can operate as a sole proprietorship, partnership, LLC or a corporation. These structures will be discussed in a bit more detail below.+ Full Story | The Pros and Cons of a Business PartnershipMonday, 23 June 2008 | Shawna RuppertThere are great benefits to be reaped from starting a business from a partnership rather than a solo perspective, but there are limitations as well. When deciding on whether or not to start a business as a partnership it is important to carefully weigh the pros and cons to see if this is going to be the best option for your company’s success. + Full Story |
| Business Plan TemplateSunday, 15 June 2008 | Sunil TinaniA simple step-by-step template for a DIY business plan. + Full Story | How to Plan a Start-UpSaturday, 14 June 2008 | Sunil Tinani Entrepreneurs are eager beavers – they have a business idea that must take-off immediately, right now, without further delay, asap, and so on – you get the idea! Well, taking off on a start-up without adequate planning is like flying a plane without a pilot – you go from one air pocket into another and keep going until you are left with only air in your pockets, no money, and then you crash land! + Full Story |
| The Home Based Business PlanMonday, 09 June 2008 | Shawna Ruppert Discovering the Home Based Business Plan that is going to work the best for you is the most important step in setting yourself free from our traditional models of employment. + Full Story | Business Networking: Earning a Wealth of ContactsMonday, 09 June 2008 | Shawna Ruppert Business networking is one of the most fundamental needs of any business. The success or failure of any new business can be largely dependent on whether or not they are able to build themselves a network of clients and customers during their startup period. Marketing, creating consumer loyalty and networking are all major factors in ensuring that you have the wealth of contacts that your business will need in order to be truly successful. + Full Story |
| Motivating your teamMonday, 26 May 2008 | Jill Marshall
Every thriving business is held buoyant by a team that works well
together, and the only way a team becomes successful is if they're
motivated to succeed.
+ Full Story | Becoming a business analystMonday, 26 May 2008 | Jill Marshall
Are you a technical buff? Consider
yourself somewhat business-minded? Believe it or not, these qualities
need not be channeled into separate careers.
+ Full Story |
| Efficiency RatiosMonday, 26 May 2008 | Sunil Tinani
Is the company employing its assets
efficiently? Or, are they being underutilized much to the
shareholder's agony? Here is how you can find out:
+ Full Story | Profitability RatiosMonday, 26 May 2008 | Sunil Tinani
These ratios measure how skillful a
company is at generating profits.
+ Full Story |
