HOW TO START YOUR OWN BUSINESS

IDEA

• To start your own business you obviously have to have an idea.
• It should be something you're passionate about, or good at.
• Make sure your business is needed but not provided.
• If it is provided see if you could sell it better or cheaper.

BUSINESS PLAN

• This is most useful when looking for investors.
• To start this you'll need to find your basic cost of operation
• this is the total of money you will need for the business
• Once you determine that you'll know if you'll have a profit

PROBLEMS

• Recognize all of the problems you think you may face.
• Such as competition.
• If you both sell some of the same items, you might have to lower prices
• If their items are cheaper than yours, then you have a big problem
• Customers will go to them instead for obvious reasons

BUDGET

• After you know how much money you are dealing with make a budget
• This will help you make sure you are spending your money wisely
• And on things that are necessary for your business to be successful.

LOCATION

• Make sure your business is needed around the location you choose
• You dont want to pick a random place because you may not be needed
• Or somewhere where there is too much competition
• If you dont carefully pick a location you could be out of business before you start
• It helps if your business is near a known or busy location

LOANS

• You should talk to a bank to see if they could give you a loan
• If you go to a bank you are already familiar with you'll have a better chance
• It will also be easier for them to look over your records
• And having a positive relationship helps too

Finally you can start your own business and run it the way you like.