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Tips to Starting your Own Busniess
The 9-to-5 grind can make you feel like a just another cog in the corporate machine, constantly punching the clock for someone else's vision.� One day, while dreaming of the world outside the cubicle, you have your big "Eureka!" moment-you've come across an idea so perfect that you need to start your own business around it.�� Coming up with the idea is the easy part.� Now, you're thrown into an entrepreneurial world where even the experience businessperson can feel overwhelmed by all the details.� It's hard to know where to even begin.� So here are some tips to starting your own business: -� Craft a primitive budget:� do you have enough capital to get this idea rolling?� First things first, figure out roughly how much it'll cost you including all expenses, and where that money will be coming from.� Call in favors from everyone you've even leant money to in the past in need be.��� -� Does the business world need you?:� is there a large enough demand for your product?� Ask around before even attempting to start your business-check with similar businesses in the area, or around the country.� Find out how they started, and what kinds of clients they target, to get an idea of where you'll fit in the market.� -� Create a strong management team:� your team members should share your vision of the business, and a certain amount of proficiency and credibility.� Rely on your connections to find the perfect people for the jobs that will bring their expertise to the business.� Remember that you will eventually have to set aside your ego and let them control certain aspects of the company, so your have to feel comfortable around your management team.� -� Start small:� instead of immediately trying to market your product to 5,000 companies at once, focus on a few dozen specialized local companies to network with.� This way you can call them each personally, mail them your marketing materials, and then arrange a meeting.��� -� Quality matters:� you want to be able to set your self apart from all the other businesses similar to yours.� Having an eye-catching yet simple to navigate web site and presentation material is key to succeeding in the modern business world.� Creating quality marketing tools doesn't have to cost you a fortune either; consider hiring a design art or marketing student from a nearby university to help out.� You never know, you could even meet your next Junior Executive.����� -� Come up with a good business plan:� keep it less than 25 pages, and include information about your management team, who your customers as, and most importantly, why the world needs your business.� At this stage in the game, don't over-focus on the financial side of things yet.� A business plan outline can be found at http://www.sba.gov/starting_business/planning/basic.html. For more tips, including an A-to-Z guide to starting your own business, and 21 ways to draw customers in, go to www.entrepreneur.com.��� Jessica Klein is a member of the 'Mount Real Research Team', whose aim is to seek out and distribute business information to the virtual public.� She is a freelance writer based in Montreal, Canada who loves writing about anything from accounting to zebras. For more info about Mount Real, visit http://www.mountreal.com.
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