Your Home Based Business

Start Your Business For Success-The First Time

You are thinking about starting your business and you know you need to attract and retain customers while remaining in control. Determine how much money you really need to start your business. Before you hit the ignition button and start your business, ask yourself these 10 questions to ensure all systems are go for launch.

Take this Quiz before you start your business and save yourself a lot of grief.

1. Did you look at all angles preparing for success or failure? 2. Do the potential benefits of the deal outweigh the risk? 3. Have you taken the steps to keep your investment as low as possible? 4. How will you operate your business as a Sole proprietorship, partnership, limited liability company (LLC), or corporation-what makes sense for your business? 5. Is your investment protected by a loan against the business assets? 6. Have you decided the maximum liability you will accept as a guarantor of bus! iness debts? 7. Have you protected yourself to reduce liability on personal guarantees? 8. Have you decided the assets you will own in your own name rather than under the business? 9. Have you protected your personal assets by judgment proofing yourself? 10. Have you reviewed these points with your attorney and accountant?

If you answered "no" to any of the above questions, you have a lot of work to do! It pays to prepare for the worst. Then you can spend all your time planning and working for success. One other question you should ask yourself. Am I starting my business to help others? Or am I starting my business just to make money?

Most people think making money is the number one priority in deciding what kind of business to start. Put it on the bottom of your list. Your passion, enjoyment and rewards head the list. When you love what you are doing the success and money are bound to follow, but it never quite works in reverse. And if you happen to mak! e a lot of money in a business you don't love, I'll guarantee ! you'd ma ke twice the money in a business you do love.

SBA says 50% fail during first year

When you're starting a new business, the last thing you want to focus on is failure. Here are the top reasons why businesses fail; these figures aren't meant to scare you, but to prepare you for the rocky path ahead. Underestimating the difficulty of starting a business is one of the biggest obstacles entrepreneurs face.

1. Lack of sales and marketing the company's products/services. 2. Poor management 3. No focus or disciplined 4. Personal use of business funds 5. Insufficient money for slow times 6. Location 7. No web site 8. Competition is better 9. Lack of commitment and persistence 10. Start a business for all the wrong reasons

Is finding the money to support yourself during the early stages of your business holding you back. Don't spend too much money up front on supplies and equipment. You can start your own business without large amounts of money and! high risks, always try to use someone else's money. Before you start your business, you have to decide how much money you're going to need and you have to make sure that you have it available. Your Business and Marketing Plan will provide this important information.

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Dave has more than 35 years experience in building, buying and selling businesses. His business accomplishments have been in owning 10 different businesses. He truly understands the need to share the American dream. Business isn't an academic exercise for Dave. He has been on both sides of the counter and this has allowed him the unique advantage of being able to observe and s! tudy business success from many vantage points. www.whowantstobeth.com

Dave has more than 35 years experience in building, buying and selling businesses. His business accomplishments have been in owning 10 different businesses. He truly understands the need to share the American dream. Business isn't an academic exercise for Dave. He has been on both sides of the counter and this has allowed him the unique advantage of being able to observe and study business success from many vantage points. www.whowantstobeth.com

Source: http://www.articlebiz.com/article/98246-1-start-your-business-for-success/
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