Tonight, I sat down and did the "Small Business Primer" online course from the SBA administration. The course provides lots of good information but can see a bit overwhelming. Maybe I should take it several times... and be able to recite it in my sleep...
There were a few main points:
Is your idea viable? Basically, you should perform market research to see who else in your area is providing the same service as you. Also, find out what they are charging. You need to be able to differeniate yourself from these competitors. I am unsure how to go about this.
Business Plan. An obvious section but very essential. They had great information and broke the plan down into easy steps. I think I need to start roughing a business plan. Even just getting some ideas down on paper to later turn into something more formal.
The Legal Side discussed the licensing and possible fees associated with a business. Also, the importance of deciding whether or not to incorporate.
Understading the numbers provided information on estimating start up costs as well as explaining the important accounting sheets that will need to be put into place
And it also discussed a marketing plan. I think with the business plan this is something I need to start roughing in now and finalize and tweak later on.
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