Starting your own business can be an exciting and rewarding experience. Becoming a successful entrepreneur requires thorough planning, creativity and hard work. Does the vision of your business meet your personal goals? Considering your personal goals will help you select a business that is right for you. Experience within an industry or business can give you an advantage towards building a successful business. It is also important to build a strong team and seek assistance from trusted advisors, mentors, and outside professionals to prevent you from making costly mistakes and minimizing your risks.
Lowering Your Risks
In business there are no guarantees. There is simply no way to eliminate all the risks associated with starting a small business; however, you can improve your chances of success with good planning and preparation. Read more.
12 Reasons Businesses Fail
The U. S. Small Business Administration conducted a study that looked at the reasons for small business failure. Here are the major reasons ranked according to frequency. Read more.
Research: Your First Steps
Research starts at the first question you ask. All of the information you will gather is to answer the first question, “Should I start this business?” As you develop the answer you might change the purpose of the business. Some ideas might even be shelved for the future. Read more.
The Business Model Canvas
The Business Model Canvas was first developed by Alex Ostenerwalder, co-founder of strategyzer.com and lead author of the Business Model Generation, as a tool to actionably conceptualize innovative ideas. Read more.
Who is Your Customer?
Will your business idea attract enough customers to be a profitable business? One of the biggest challenges for startups and growing companies is determining who their ideal customers really are. Read more.