Many folks wish to start a small business of their own and 2007 seems to be the year they wish to do this. Yet so many middle class Americans have few resources or up-front cash to start a business. Starting a business is not easy and it costs generally three times as much as the average optimistic entrepreneur believes it might. Worse off it often takes twice as long to get it going due to all the government paperwork and red tape.
So many small business start-up entrepreneurs that I have consulted with do not have much money and are currently drowning in short term debt such as credit cards, car loans and other consumer type debt. They need to be wiser with their family resources and will most likely need an investor to get the business off the ground. To start a small business you really need a plan of action and if you wish to find an investor you will need a business plan as well.
Some folks just starting out in a business of their own believe that all they have to do is to launch a website, register a domain name or two and they will be suddenly in business. However, it really does not work that way. If your family is on a budget, well then stick with that budget and do not spend any money until you have a viable plan and an investor. You should not talk about registering domain names or setting up your business, until you have your own financial house in order.
If you cannot run the family budget how can you expect to run a small business, which needs a proper ROI; Return on Investment. How can you expect an investor to be serious about investing in you and your dream? You also need a business plan if you are serious about setting up your business. You need to get serious about all that it details and perfect your plan, otherwise no one will wish to invest.
Your business plan must be as good or better than your College Papers, Thesis or Dissertation. Your business plan must be perfect or as close as humanly possible. You cannot simply register a domain name and set up a three-page website other wise you will appear to an investor to be some kind of Internet Marketing coo-coo-head and this will scare them off, because real businesses must provide value, services and products to their customers or they will not trade you for that unit of trade you seek.
I certainly appreciate you reading all my articles on this subject of Small Business and that you learn something new from each one. Thanks again and Godspeed. Perhaps this article is of interest to propel thought in 2007?