How to do online business-venture care| starting your own business, starting an online business

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Starting a small business is a great way to earn
a living and contribute to the community. Many
people with great business ideas never started,
simply because theyre overwhelmed by the
process of starting a small business and unsure
of what specifically is involved. Its
understandable to freeze up at the deluge of
things that are required how to start business,
but getting going is actually easier than you
might think. With a to-do list of smaller tasks,
you will be able to tackle enough of the actions
necessary to get started. Here is the step by
step guide to simplify the process and getting
started with your own small business STEP 1
WRITE YOUR BUSINESS PLAN To get started, write
your own simple business plan that is a
high-level overview of the small business youre
about to start. The plan should explain the
vision and mission of starting the business. It
will serve as your guide to decision making
during business process. You will need to provide
business plan to satisfy lenders and investors,
before they approve a loan or make an equity
investment in your company. Plans also serve as a
means of communicating with potential partners,
allies, vendors, employees and even
customers. STEP 2 CALCULATING BUDGET Keep the
initial cost as low as possible. Know how much
you will be able to spend. If youre self
funding, be realistic about numbers and whatever
you anticipate your budget to be. Keep aside an
additional 20 per cent amount reserve so you can
survive if things go leaner than expected.
Keeping budget in mind, you should also determine
how long you can stay in business before you need
to turn a profit. One of the most frequent
mistake people make is over-estimating revenue
and under-estimating expenses. STEP 3 LEGAL
DOCUMENTATION When starting a business, its wise
to start as sole proprietorship, as it means less
paperwork and up-front expenses. As a sole
proprietor, you have full personal tax liability
for all the businesss profits. The upside is
that you can deduct the businesss losses on your
personal tax return. Filing paperwork to start a
business costs money. Youll need to account for
city or municipality licensing, state
incorporation or business entity fees and more.
So, file for a business entity once youve proven
in the first three to six months of business that
youve got a viable, sustainable model. STEP 4
SEPARATE BUSINESS AND PERSONAL EXPERIENCES Its
easy for your personal finances to get tangled up
with your business finances. Whatever business
entity you decide on, keep the funds separate
from your personal accounts. For one thing, doing
so will make it much easier to figure out what
you can deduct and what you cant at tax time and
it will also make it easier to grow how to start
business or even sell it. STEP 5 TEST
MARKETING Check the market potential of your
product or services before throwing all your time
and money into an unproven idea. If you have a
service-based business, get involved with your
local chamber of commerce or small-business
chapter immediately and ask what resources are
available for you to speak, present or share
information about your business. If you have a
product-based business, test the viability of
your product at local swap meets, farmers markets
or other community events to test what the public
really thinks. www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33
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www.venture-care.com
Ask_at_venture-care.com
020-65 3636 33