How to Start a One Man Business

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Starting and running a business is hard work even when you have other people helping you and plenty of resources to fall back on, but starting and running a business on your own presents even more challenges. Learn how to start a one-man business and how to organize yourself so you can run the business effectively.

Choose a business that involves something you know about. The less time you need to spend learning the business, the more time you will have to run it.

Secure financing for your business. Try going to your bank for a small-business loan. If you can't get one there, try the Small Business Administration (see Resources). You can apply online at the agency's website and be notified of approval in as little as two weeks.

Start as small as you can. Run the business from your home if possible. Laws vary widely from state to state and city to city, so check with your local government about running a small business out of your home and about zoning laws that apply to home-based businesses. The Small Business Administration keeps a list of where to obtain business licenses in each state (see Resources).

Organize yourself. You will need to handle all aspects of the business and devote ample time to everything. Duties include keeping track of accounts payable and receivable, purchasing stock, producing the product or service you are in business to produce and promoting your business.

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