Whether it is a service oriented or product based business it is always important for you to have enough knowledge about the services or product. Before you start your business you must acquire sufficient mastery and skills on the product to be rendered. This can best be done by studying and learning more about the particular product or services. Your study must be backed by market research to be in touch with ground realities. After acquiring the required skills you must prepare the ground work required to embark on a business. And this is the most essential part of starting a business. It may be a bit time consuming but you need to be patient and focused.
Before launching your business you need to get in touch with professionals such as accountants, bankers and lawyers. If required you can consult agencies that help to get new business. You can asses your business plan with them and know whether you are on the right track or not.
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Before starting your business you need to acquire the following:
- Business permit and License: This arms you with the government sanction to carry out your business. Other permits required include
- Fire license permit
- Air and water pollution permit
- Health department permit
- Sales tax license.
- After you finish above procedure ...
- Once you have the name of your company registered you need to open a commercial bank account.
- Consult Lawyers for legal liabilities and tax considerations.
- Insure your business against theft, fire and other liabilities.
- Create the prefect business card to make the right kind of impression with clients.
- Create a company logo which will catch the fancy of customers instantly
- Hire an accountant who would prepare all your state and local tax returns.
- Hire an attorney to protect you from legal hassles.
- Hire the right employee to represent your business. The candidate should have good communication skills and must be hard working.
- Get in touch with an advertising agency and ask them to come out with ideas to advertise your product or services. The advertisement should be carried out in the right places.
A large portion of your start-up capital will be spent on the above. If you have little more space at your home, you can always start your business from home. Install a computer, and get it connected to the internet. Make sure you also have a vehicle at your disposal. It is also important to purchase a printer/fax machine and a phone line, exclusively meant for your office.
Now that you know how to start business you can go about implementing your ideas with ease. Once your business takes off perfectly and begin to make profit then you may search for a shop or office.
If you have any questions or queries, feel free to ask as a question anytime.
