How to Start a Small-Scale Business
Over the years you've acquired skills that could be used in developing your own business. It can be a bit scary starting your own company. That's why it's always best to start it on a small scale, without having to put a lot of money in jeopardy. You may not realize that running your own small business will take up more of your time than working for someone else. However, if you can start it on a small scale and remain in your current working position, a part-time business may grow into a lucrative full-time business.
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Instructions
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List the skills and ideas you have for your small-scale business. Makes sure the focus is not so narrow that your customer base will be difficult to acquire. However, you don't want to start with a broad focus that will leave you overwhelmed.
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Start your business from your home. One of the largest costs to a new business is overhead, which includes utilities and rent. Some commercial building leases include the taxes and insurance on the building also. Working from home will eliminate these costs, at least initially.
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Call the city or county administration in your location to find out what licenses and fees are required for your particular type of business. You will likely need a business license. There may also be specific regulations regarding your particular small-scale business. Inquire about any zoning regulations pertaining to a home-based business.
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Hire an accountant to advise you of business records to keep during the year. Although an added expense, it's a good idea to rely on your accountant the first year, including the completion of income tax forms. By the second year, you will know which aspects of the accounting process will be easy for you to take over.
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Search the Internet for wholesale materials, if you plan a product-based business. Some service businesses require materials. A cleaning company, for example, needs cleaning products, dust cloths, mops, brooms and vacuums.
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Write a business plan. This is not for borrowing money or to entice investors in a small scale business. It's important to know where you want to go in the future with your business.
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Advertise in the least expensive manner. You will be surprised how expensive a simple newspaper ad can cost. Instead, target your customer base. If you choose the cleaning business, for example, decide if you will clean commercial buildings or homes. Create a professional flyer on your computer. Distribute them yourself. If you are targeting other businesses, ask for the manager or owner. Introduce yourself and tell her about your business. Leave the flyer with her, so she can contact you.
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