How You Start Your Business?

1019 Words Dec 10th, 2015 5 Pages
How to start your business? Starting a small business isn’t easy, but it isn’t impossible. According to the small business administration 99% of all businesses in the United States are small businesses and they employ 80% of the population, so many people have already succeeded in starting a business. But this doesn’t mean that starting a business is a walk in the park, according to Forbes 8 out of 10 businesses fail within the first 18 months. There is a lot of hard work required in starting a small business and many steps that should be taken to ensure that a small business would be successful. The first step in starting a small business is in the idea, if the idea isn’t good, the business probably won’t be profitable. The market is saturated with ideas and one must find one, which is profitable and marketable. An entrepreneur must find a service that can be delivered and find out if it is needed. Supply and demand is key, if nobody wants the service nobody is going to buy the product. Once a good idea for a service has been found, the next step for any future businessmen is to conduct a business plan. This should focus on the future and will become the roadmap for business. This will require a lot of hard work. According to SBA

an entrepreneur should start with the company description. This will highlight the nature of the business and the market that it will try to satisfy. The company description also requires the audience one will be targeting and who one will be…
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