HOW TO BE A SUCCESSFUL ENTREPRENEUR

 By: Tina Bracy

 

Are you equipped to be a successful entrepreneur?  Well, here are some tips that you must follow to ensure your success as an entrepreneur:

1.  Start with a vision. When I was a child, I envisioned myself as being a business owner. At that point I did not know what kind of company I would build. Therefore, I decided to prepare myself by getting my degree in Accounting, taking a number of self-improvement courses, joining professional organizations and everything I could think of turn my dreams into reality.

2.  Name your niche. Here are a few questions that I asked myself to help determine the business I would own:

* What businss am I interested in starting?

* What services or products will I sell?

* Is my plan practical and will it fill a need?

* Who is my competition?

* Can I deliver a enhanced quality service?

* Can I create a demand for my business?

* Who will be the mark audience?

  After answering these questions, you will know the type business that is best for you. When I started my business, I skipped these steps and went straight to opening a business that wasn't right for me. Now I know....I'll never make that mistake again.

3.  Develop a company plan. It is very important to have a company plan so that you will know what you want out of your business as well as where you are going.  To help you write a business plan, here is a site that I found: www.bplans.com.  It has over 500 free samples to choose from along with the category that you can match with your business.

4.  Determine the legal structure of your company.  Your business name, how your taxes are filed, and your company liability is impacted by the legal structure you choose for your company.  For more information on taxes, please visit U.S. Internal Revenue Service (IRS) guide to business taxes.

5.  Name yo ur company. Register your business name with your state government.

6.  Obtain licenses and permits. Get a list of federal, state, and local licenses and permits required for your company.

7.  Promote your business.  A marketing plan for your company is most important.  It will create various avenues for selling strategies and provide a road map to success.

It is very important to use these tips to start your company.  Take your time, do all of your research and follow your dreams to become a successful business owner.

ABOUT THE AUTHOR

The author is an Accountant for the Federal Government, was approaching retirement in 2003 and decided to establish a business to have after retirement. Although she attempted many business ventures without success, there is one that she discovered to be her favorite, Affiliate Marketing. It has proven to be the best business venture of all.

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