16 Tips for Starting and Succeeding in Your Own Business

Starting a business? Here are 16 important startup tips that will help you make your startup a success.

What do you need to do to start a business? There are dozens of websites including ours that have checklists that remind you of the many tasks you should perform when starting a business. Although such checklists are very useful because they help you remember important startup steps, they are just To Do lists. They tell you what to do, but don’t provide any tips about what makes a business successful.

Unfortunately, you don’t succeed in business just by completing a list of tasks. Nor will your business be a success just because you think it’s a good idea.

What will make or break your business? What determines if it will be a success?

Here are 16 tips for starting a business and making it succeed.

  1. Know yourself, your true motivational level, the amount of money you can risk, and what you’re willing to do to be successful. Sure, we all want to make millions of dollars. But what are you willing to give up to reach that goal? How many hours a week will you work on an ongoing basis? How far out of your comfort zone are you willing to stretch? How far will your family stretch with you? To be successful, keep your business plans in line with your personal and family goals and resources.
  2. Choose the right business for you. The old formula – find a need and fill it – still works. It will always work. The key to success is finding needs that you can fill, that you want to fill, and that will produce enough income to build a profitable business.
  3. Be sure there really is a market for what you want to sell. One of the biggest mistakes startups make is to assume a lot of people will want to buy a particular product or service because the business owner likes the ideas or knows one or two people who want the product or service. To minimize your risk for loss, never assume there is a market. Research the idea. Talk to real potential prospects (who aren’t family and friends) to find out if what you want to sell is something they’d be interested in buying, and if so, what they’d pay for the product or service.

Read More at : https://www.businessknowhow.com/startup/business-success.htm

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