Key Tips on Starting and Running a Successful Business

Topics: Entrepreneurship, Small business, Employment Pages: 4 (1431 words) Published: July 15, 2010
Every business started out as an idea. It takes dedicated people to turn those ideas into reality. Entrepreneurs dedicate their money, time, and hard work into their business. Most entrepreneurs run the risk of being in great debt if their business is not a success. People who take the risk of starting and managing a business are called entrepreneurs ( (Nickels 4) . There is no guarantee that their business will be successful. An entrepreneur must understand that there are many circumstances that could hinder their business for success. The first thing a person who is interested in starting a business needs to do is create a detailed plan of their vision of their future business. They must have a clear understanding of their goals and how to accomplish them. I would suggest writing the goals down. You are more likely to follow through with a plan if it is in writing. Figure out what it would cost to get your business started. Create a detailed budget. Be realistic with yourself, if the cost is over your budget, go back to your initial plan and make some adjustment. These adjustments don’t have to be permanent, just until you can afford it. Determine what type of business you want a franchise or start your own business. If you choose to start you own business you then need to name your business. Be creative and original. Once you have decided the name of your business you then need to register your URL. Register a URL immediately because you need a good web address and the faster you register the more options you have. You will then need a business address and telephone number. Understand that you are only at the beginning stages of starting your business, your home address can be your business address for the time being. Create your logo, letterhead, etc. Take your time on your logo. People recognize businesses by logos. For example people know Nike by the swoosh logo. Your logo identifies your business. People are more likely to remember a picture rather than a...

Cited: 1)Nickels, McHugh, McHugh. Understanding Business ninth edition. NewYork, NY: McGraw-Hill/Irwin, 2010.
2) Rhodes, Blair. Starting Your Own Business- The First Step. 16 March 2010 .
3) Ten Tips for Starting and Running a Successful Small Business - Small Business. 16 March 2010 .
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