Want to start a business?
Deciding whether or not to start a new business is a big life changing decision for you and your family. In fact, it can be one of the more difficult and important decisions you will make in your life.
Whatever your reason for starting a new business, you need to be sure you are doing the proper research and taking the right steps before you make your decision.
The Roanoke Regional Small Business Development Center (SBDC) is here to help you through the entire process.
We highly recommend that you attend our Business Basics workshop if you have not been in business before.
Assessment: One of the first steps you should take before starting a business is to assess whether you are really ready to start a small business. Take the Small Business Assessment.
Checklist: To get you started in the right direction, download the Checklist to starting a new business, or if Restaurant, Checklist to starting a new Restaurant.
Business Plan: Writing a Business Plan can seem intimidating and difficult at first, but by taking the right approach it is easy and most of all very important. Pages 2-6 of Entrepreneur Guidebook.
Marketing Plan: If you are considering starting a business, then your marketing plan is a crucial element. The marketing plan consists primarily of two important parts.
Market Research: The first step to your marketing plan is determining whether or not there is a market for the product or services you wish to sell. Going through the Nine Steps to Market Research will get your properly started. Pages 6-12 of the Entrepreneur Guidebook.
Marketing: After you have done the research steps, you then need to determine how you will actually reach your customers. This would include marketing, promotion and advertising.
Funding: No matter how small or large a business you want to start, you may at some time need funding. So how does one find funding for their small business? What are the different types of funding? Are there grants available for my startup? Check out this fantastic resource through the Hampton Roads SBDC.
Legal Issues: If you are starting a new business you need to understand legal issues that will affect your business. These include such items as. Pages 15-18 of Entrepreneur Guidebook.
What is the proper Legal Entity for your business?
What legal issues will I face with my new business?
What do I need to know about Patents, Copyrights or Trademarks? Pages 36-37 of Entrepreneur Guidebook.