Start a Business and Become An Entrepreneur Make Money

So You Want To Be An Entrepreneur

Beginning your own business is a rewarding but engaging career and life choice. It demands your time and focus. Start by expecting to live your work until it is established so it can get off the ground. There are many different opinions about how to begin in starting a business from doing your homework and writing a detailed business plan, to organize it all instead of just jumping into a passion and trying to make money out of it. If you want business start up plan it out first.



Steps

Start with your product. This probably isn't a brand new invention or product. In fact, many successful new businesses have found a way to deliver an existing service or product more efficiently and economically or have customized an existing service to fit an opportunity. For example look at what Game-Fly did to Block Buster Video.
 

Put together a business game plan. Try to add some pages of projections, charts and graphs. Include things like how much you can charge for your product/service, how much it will cost to produce or deliver (include variable & fixed costs), and the size of your potential market (i.e. number of customers). The plan should evaluate your competitors ask yourself [spin]how many competitors are there,how strong is your competition, where are they, how will you compete. The business plan should state what is required to enter this market, barriers to entry such as high fixed costs (factories, restaurants) and government regulations that must be met.

Determine if you need loan the costs to start and run your business? Do you need a bank loan? Use credit cards? Self finance? Also, you'll need to consider how much salary For example, many service businesses such as accounting firms build their practices through word-of-mouth referrals. You can also join low-cost associations to build awareness of your small business. Again, your business plan will help you determine the marketing efforts you need to undertake.

Build your infrastructure early. This doesn't mean build a big factory or a fancy office. It simply means keep track of customer records, a clean set of updated books and a technology foundation, if necessary. One of the downfalls of many new starting businesses is that they don't know if they're making or losing money. Which is why you need to keep organized records. Another downfall is when business owners try to sell their company years later but lack accurate customer history and customer information. Many times, the customers of a small business are its best asset, and, without the records, the small business can be sold only for salvage.
 

Move forward and get started. Once you know you can be profitable take the leap and get started. Besides getting business supplies or advertising, plan ahead by establishing some new business clients ahead of time. If you're business is unlike a restaurant, that physically needs to wait for customers to walk into it's doors, establish accounts ahead of time. In this way, you will have preplanned future receivables to look forward to. Think about and focus on making money first, where ever possible, instead of spending money. The more money you gain in profit, without spending money, the more profitable you are going to be.
A good tool is the web. Use every technology available that will give your business a competitive advantage. The internet is a customers research tool. Help potential customers learn more about you and the details about what you sell and why your products or services are different and better for them than other competitors.

Make paying for your items or service convenient. In today's world, understand how people pay. Carrying cash can be risky. Therefore, most people choose to use credit cards to make their payments in person, over the phone or online. All these credit cards are part of our societies everyday life for making purchases. So, along with having a sales counter cash register, get set up to accept credit cards for your business. If you have your website set up, you should also make PayPal payments available because most consumers feel that this is more secure, and many will use PayPal.

Purchase a new electronic credit card machine. These are now very affordable and available at wholesale prices. Be sure to look for a wholesale supplier, not a retail seller such as a bank. Banks usually charge higher prices or rent it to you, and you may pay for it many times over. The same credit machine supplier will more than likely be able to offer you credit machine service too. By doing this you'll be able to get equipment for less then the price of most cell phones. More importantly, you can offer your customers an easy way to accept credit cards. The goal is to be able to provide different options for payment that you customer can use. 

 

Tips

 
Use free information resources. Your local library contains numerous useful references regarding incorporation, writing business plans, marketing, as well as information specific to your industry. The Small Business Association, Chambers of Commerce, AMEX Small Business website, associations for your industry, associations by ethnicity...all of these offer training, materials, networking and sometimes financing. Another good option is SCORE, a group of retired executives who provide business start-up advice.

Recognize that building your business up from the ground will take time. Most businesses don't earn profit right away, so plan for that in your personal life too. You will be making sacrifices to be your own boss.

Warning

Running your own business is very time consuming. You can rarely leave work because you're the boss now. Be sure to carve out time for yourself. As mentioned in above, running your own business can consume you if you let it.

If you ever consider to start an online business  which seems to be less than a headache compare to everything above seems a lot better and easier to me than going through all that hell (mention above). When I say online business I'm referring to online affiliate programs. If you want to be an entrepreneur come and see the first online affiliate program I started with click here for more information.