Essay about Essential Steps Of Starting Up A Small Business

735 Words Jun 17th, 2016 3 Pages
You’ve got a great business idea, but before you cash in your life savings to build your dream venture you need to know some of the essentials of starting a small business. When faced with all the tasks of starting a business it can seem somewhat overwhelming, but getting things started is not necessarily all that difficult. Like any major goal in life, if you break it down into smaller objectives and tasks it’s much easier to get started. Read on to learn the essential steps of starting up a small business.

1. Write a Business Plan

Some people don’t like to put forth time and effort for planning. If you are starting a business and putting your money on the line, don’t “just wing it.” Many great historical leaders and business coaches have said: “Failing to plan is planning to fail.”

This doesn’t mean you need to create a long, complex document. If you are seeking investors and financing, you may need a more comprehensive plan, but for your own purposes, one or two pages will suffice.

A simple overview of your business includes the following items:

Company vision: Define exactly what you want your business be. Mission Statement: Explain why you want to create this business. Goals and objectives: What are your main goals, and what are the individual steps for reaching these goals. Strategies: For each of your objectives, define the strategies for accomplishing them. Action plan: List the actions that need to be done in order to complete each of your…

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