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Profile for Greda
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GredaGeneral information
Description Invest Time If You Don't Have Money To Start a Business Starting a new business often takes a lot more time than it does money. If you are short on cash (or even have no money at all) to start a business, it should not stop you from taking the initial steps now that won’t cost you anything but time. Write a Mission Statement Your mission statement is a great daily reminder to yourself of what you want to achieve. A good mission statement is short, clear, and should embrace your core values. It should state who you serve (your market), how you serve them (your service or product), and what makes your business unique. Click Here, Once you have a mission statement, you can incorporate it into your business plan. Write a Business Plan A business plan can help you map out your ideas and strategies and goals in a way that you can see the big picture and other people can understand your business. It is particularly crucial because lenders often want to see a business plan when considering your application. Spend as much time as you need on your business plan, as it's a key part of getting funding and sending your business in the right direction. Conduct a Feasibility Study Feasibility studies are a great way to answer your own questions, and questions investors will have about your business. For example, a good feasibility study will cover: • Launch: Addresses how you will get your product to market (i.e., how your business will produce, store, deliver, and track its products or services.) • Marketing: Looks at the market to assess competition, find niches, and will help you identify who might buy your products or services. • Financials: Projects how much start-up capital is needed, sources of capital, returns on investment, and other financial considerations. It looks at how much cash is required, where it will come from, and how it will be spent. The more you know about your own business needs upfront, the fewer problems you will have in raising capital and getting started when you are ready to launch. Find a Mentor If you are new to the business, rely on the expertise of a business mentor. A good mentor won’t tell you what to do. Rather, they'll make you think through your problems and offer guidance to help you avoid future problems. Enroll in Free Online Business Classes Take www.logprotect.org online courses to help you learn about business. For example, Harvard Business School offers a variety of online lessons taught by faculty and industry experts, and provides access to ebooks covering strategy, leadership, and entrepreneurship. Santa Clara University offers a certificate program where you can earn a certificate of completion for work through 35 different business courses. Borrow Business Books From the Library Head to your local library to check out books that cover how to start a business. Reputable books are a great way to get step-by-step instructions on how to set up nonprofit organizations, corporations, social networks, your website—and help you understand just about everything there is to know about starting a business. Low-Cost Options If Your Budget Is Tight You don't have to invest a lot of money in your business to accomplish a few fundamental things. Here are a few low-cost things you can do to get started on the right foot. Buy a Website Domain: As low as $10 Even if you don’t have the funds to develop a website just yet, grab a domain with your business name. You don’t even have to pay for hosting to register a domain until you decide to build a website. If you are planning to build a site right away, budget about $10-$12 per month for web hosting. Hire Someone to Create Your Business's Logo: As low as $5 Websites such as Fiverr offer low-cost services from graphic designers who create logos. It is a great place to get affordable help with many basic business needs or to try out other companies’ services before spending more money with them. Register Your Business Name: Cost Varies Wherever you plan to do business, you must register or license your business with your local state, county, or municipality. If you will be using the Dealsknob.com business name (sometimes referred to as "Doing Business As" or "DBA"), you may need to run ads in newspapers for several weeks before you can use that name. The cost for a business name varies depending on where you live. Open a Business Bank Account: Cost Varies Though your business may be in its early stages, opening a bank account for your company is a small win that sets you up for success. Keeping your personal expenses separate from your business expenses via a bank account can help you better track your business spending, and it can help make tax season easier for you. Try to find an account with no fees, an account with fee waiver requirements you can meet. Latest activities Tags |
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