The Eight Steps to Starting a Successful Small Business.

Essay by caved357College, UndergraduateA, July 2003

download word file, 4 pages 4.4

If you are thinking about starting a small business, now is the time. Personal computers and software that are business quality are far better and cheaper than those of just five years ago. Coupled with the internet, today's computers, and software, the small business is on a more level playing field with larger companies. A local small business owner B. G. Simpson stated that the main key to starting a business is to do it (Simpson, B. G., July 2002). Before starting your business, there are several questions that you must ask yourself. You will realize that starting a business is easy. Making that business work is the challenge. There are eight steps to making a business successful. These steps will serve as a guide to what you need to know.

The first step to success is to determine what it is that you plan to offer the consumer. In doing this, you will have to plan out how your products or services will benefit the consumer over the existing products or services.

If your business is service driven, you will have to determine the service you will provide and how they will be provided.. If your business is product driven, you must develop a model of the product you will be selling and write a statement, or prospectus, of what this product will do. This step can be time consuming, but in the end, it will be worth it financially.

The next step is research. You want to gather as much information as possible about small business. Your resources may include the Small Business Administration (SBA), the Internal Revenue Service (IRS), the Chamber of Commerce, trade organizations, state and local government entities, small business organizations, and other business resources. These places have literature, brochures, websites, and other useful...