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Business Planning Articles
Starting a Business Right Will Make Exiting the Business Easier and More Profitable
Entrepreneurs just starting a business seldom think much about how they will eventually exit the business. But having an exit strategy in mind when starting your business will allow you to set things up to run better and to be ready to sell or transfer your business when the time comes. Read more about how knowing your exit strategy will help you start your businesss off right...
Starting a Business? Look for Edge Opportunities!
Every business needs an edge. You can find many of these edge opportunities as you complete the initial planning for your new business. Be alert to looking for edge opportunities in every aspect of your business's operations. Read more about identifying edge opportunities when starting a business...
Think Green When Starting Your Business -- No Matter What Business It Is
There are great ways to be environmentally responsible when starting your business -- and it doesn't matter what your specific business idea is. Going green is not only great for the environment, it's also great for your business. Read more about thinking green when starting your business...
Use Hyperfocus to Set Your Business Up for Success
You already have a good business idea and know how you want to run the operations of your company. Before you hang up your "open" sign, use the technique of hyperfocus to complete the planning for the business aspects of your venture. Read more about using hyperfocus to set your business startup up for success...
A Partnership Agreement is Necessary When Starting a Business With a Partner
Starting a business with a partner can be a great way to accelerate your startup, make sure it is fully funded, and that all the business bases are covered. In order to protect both partners, as well as ensure the smooth running of the business, a formal partnership agreement is a necessity. Consider these factors when creating your agreement. Read more about creating a partnership agreement when starting a business with a partner...
Three Reasons Your Business Startup Should be An LLC Instead of a Sole Proprietorship
Many bootstrapping entrepreneurs choose to avoid the costs involved with organizing as an LLC. In reality, there are very compelling reasons that you should choose organization as Limited Liability Company (LLC) instead of a sole proprietorship or partnership. Read more about why you should set up your business startup as an LLC...
Pros and Cons of Outsourcing when Starting a Business
Outsourcing non-core functions can be a great way to free up your time to focus on your core operations when starting a business. It is important to be aware of both the pros and cons of outsourcing before you make the decision to outsource parts of your business startup. Read more about the pros and cons of outsourcing when starting a business...
Struggle Now or Struggle Later -- Planning is Key to Your Business Startup
Many entrepreneurs want to just jump directly into starting their business without doing the thorough planning that should precede opening day. When this happens, the business will inevitably face a struggle during the early years that could have been prevented by taking the time to plan the business startup. Read more about how proper startup planning will save you from problems down the road...
Five Steps to Turning Around a Struggling Business
Is your business struggling in the current economy? Are you not having the success you believe is possible for your business? If so, using this five step process will put your business back on the road to success. Read more about using five simple steps to improve or turn around a struggling business...
Achieve Your Business's Big Plans Through Small Steps
If your 2010 plans for your business (or starting a business) aren't off to a great start, take time to reset, review your plans, and move forward. You can achieve the big plans you have for starting a business or expanding your business by committing to the hundreds of small steps needed to achieve your goals. A Reac more about how to achieve your business's plans...
Got a United States Patent? Get a few more...
Securing a US patent for your invention or innovation is a standard first step, but savvy inventors should seriously consider broadening that protection to the rest of the world (or most of it) as well. There are significant advantages to expanding the patent protection of your invention beyond the United States. Read more about why obtaining international patents for your idea will help your business...
Starting a Business -- Setting Realistic Expectations
If you start your business with realistic expectations, it will be far easier to weather the tough times that are likely to hit you during the first year. By carefully planning the business, you will be prepared for the rich rewards of owning your own business -- financial independence and controlling your destiny. Read more about how to set realistic expectations for your business startup...
Should Your Social Entrepreneurial Idea be a Business or a Nonprofit?
Social entrepreneurs often believe that because they want to do good, they must be registered as a nonprofit organization. The rules to qualify as a nonprofit significantly limit the types of organizations that qualify, and many social entrepreneurs will find that starting a business is the right choice. Read more about deciding whether to start a business or nonprofit organization...
What 2010 Will Mean for Your Small Business
2010 will show continuing trends toward an employer's market for employees, consumers who are looking for good values and good service, and a return to solid business ethics. Your small business can capitalize on these trends now and thrive in the upcoming recovery. Read more about what 2010 will mean for your small business...
Defining the Distribution Channels for Your Business Startup
Many modern startups have a broad range of choices about how to distribution their products. Consider all three factors -- your product, your customers, and yourself -- before deciding the best routes for your business. Read more about defining the distribution channels for your business startup...
A Good Environmental Strategy Will be Good for Your Business Startup
Whatever type of business you are starting, there are steps you can take to join the ranks of the environmentally-friendly and energy efficient workplaces. While you are planning your startup, consider these areas to incorporate green business practices into your business. It's good for business and good for the environment. Read how a good environmental strategy will be good for your business startup...
Zoning Laws for Home-Based Business
There are a number of advantages to having a home-based business. Be sure that you determine the zoning laws and HOA restrictions that apply to your location as you are planning your business. There are four broad areas that are usually regulated. Read on for an overview of zoning laws for home-based businesses...
Add Products to Your Service Business to Expand Your Profit Potential
When you are starting a business, a service-only model is easy to start, requires less capital, and less lead time. However, be sure you include adding one or more products to your offerings in your planning to maximize your profit potential. Read more about how adding products to your service business can increase your sales and profits...
Distribution Channels
One important factor to be defined before you get to work on a startup is how your product will get into the hands of your customers. The distribution channel options each have advantages and disadvantages, and the proliferation of online-based businesses is opening new avenues every day. Read on to learn about the distribution channels you can use when starting a business...
Doing the Right Thing Will Lead to Success in Business and Life
True success does not come from increasing profit at any and all cost, but from conducting yourself and your business in such a way as to benefit your customers, suppliers, community and the greater good. Build your business and do the right thing. Read more about incorporating ethical practices into your business startup...
Use Outsourcing Carefully in Your Business Startup
Outsourcing can be effective for preserving your time for more important or interesting tasks. But as a business owner, it is absolutely critical that you maintain control over the details of business fundamentals. Read more about using outsourcing in your business startup...
Getting Your Invention to Market Takes Planning and Perseverance
Fewer than 2% of all patented products ever turn a profit. Though there are as many reasons for this as there are failed products, there are some steps you can take to improve the odds that your product will succeed in the marketplace. Read on to find out how you can get your invention to market...
Successful Business Startups Focus on the Details
As a business owner with plans to build a thriving company, it is important that you know and understand the details of each aspect, even if you elect to hire outside or in-house professionals to handle some of the workload. Read more about focusing on the details of starting your business...
Controlling Risk When Starting a Business
Starting a business has always been seen as a high-risk activity. In reality, while there is some risk involved, good planning and attention to details can allow you to control the risk involved in your business startup. Read more about managing the risks of business startup...
Use the Economic Downturn to Position Your Business for Success
The current economic downturn provides a unique opportunity to really examine the details of how your venture is running. Focusing on the three keys to business success, financial management, marketing, and planning, will enable your business to weather the downturn and emerge poised for success. Read more about using the econmic downturn to strengthen your business startup...
How to Select the Right Name for Your Business
Choosing the right name for your business won't guarantee success, but choosing the wrong name can spell doom (or at least big trouble) for your business startup. There are a number of factors to consider when naming your business. Read more about choosing a name for your business...
Choosing the Right Business Model for Your Startup
With so many options available for how you set up your business, it is critical to consider which alternative best fits both your personality and your business idea. Selecting a business model that doesn't fit your personality is set up for failure because you will lose your motivation and desire to keep pushing through. Read more about deciding which business model is right for you...
Start Your Business with Integrity
The single most important standard all new businesses must embrace is a culture of integrity. In the age of Enron and Madoff, the American consumer has grown weary of deception and is on higher alert for dishonesty. Read more about incorporating a culture of honesy and integrity into your business startup...
Exit Strategies to Consider During Business Startup
An important but often overlooked element of planning a business startup is deciding how you want the business to end. Knowing your likely exit strategy during the planning stage can influence the choice of business entity, certain business structure decisions, and other business startup issues. Considering your likely exit strategies at the start of your business will smooth the way so that you do not run into problems when you are ready to move on. Read more about planning an exit strategy when starting a business...
Keep Your Business Organized to Save Time and Money
There are so many particulars involved in running your own business that being organized is not an option, it’s an absolute must. Good organization isn’t just a matter of keeping your desk clean. You must also be able to find what you need when you need it, be aware of what is coming up, and be able to move smoothly from one task to the next. Read more and find out how to keep your business organized during startup...
Create a Great Home Office Space for Your Startup
Whether you plan to work from home just during the planning stages or through the life of your business, creating the right space will increase your productivity and efficiency. Read more about creating a home office...
Starting a Business from Home -- Balancing Work and Life
Starting a business from home can be a great choice for many entrepreneurs. However, it does make achieving a good balance between work and the rest of your life more difficult. Use these recommendations to help you maintain your balance while getting your business started. Read more about starting a business from home...
