How to start a small business

business arrow upPutting up a business is really one of my goals these days. I want to put up a restaurant to put my sister's degree in use. But before I can do that, of course I have to take things one by one. The journey of a thousand miles begins with a single step, after all.

Before putting any business, it is but wise to plan for it for it to become successful and fruitful, and to not let down every ounce of your effort and every bit of the amount you put into it to go to waste. We dream of having big businesses, but often it should start from the small ones, especially if it's personal and not of a company or corporation.

So how should you run a small business? Here are some simple tips I can dish out to you.

1. Plan. As I said above, a careful planning is crucial as this will be the forefront to everything that your business will undertake. Without this, the business may seem like a ghost; purposeless and just seems to float.

2. Gather resources. This may be material or human. If you have no capital to start a business, you can avail of some small business loans to start running your business. Furthermore, knowing who to get to man your business is important. It may be you, or a relative as an additional or hire employees.

3. Manage. It is very important to manage your business carefully. Take control of everything that goes around your business. Perk up the positive attributes and cut down the negatives. Amplify its strength and work more on its weaknesses.

4. Evaluate. Measure the end result of your business based on the plans you have set out. It is important to know what areas need specific attention and improvement. Reassess your business if it meets its goals. If not, then try working on the with the plan and actions again.

Having a business is not like playing any game, although you should enjoy it too. In this area, it should always be a win-win situation so as not to waste your time, effort and resources.

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Anonymous said...

Interesting post. I want to run a business, so I'll have to keep this in mind. I'm leaning towards buying a business instead of starting one from scratch, but I haven't had the best luck looking for one to buy. Any suggestions? Thanks.

Anonymous said...

Amanda-- Have you looked into local small business groups? They might be able to help and direct you. Plus, it's always good to network and get to know your fellow entrepreneurs.

I also suggest, because it's this online global marketplace where you can invest in, buy, and sell a small business. You can even use it to find a lender or find a broker, should you need either. Good luck!

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