Friday, July 2, 2010

5 Tips For Startup Success

The best way to improve your odds of success is to move slowly and carefully in starting a business. Do so, and you can join the 70 percent of businesses that succeed in their first two years, according to the SBA.

  1. Begin with a plan. 
    Not all home businesses need an official business plan, but every home business owner must spend some time planning. 
  2. Find a mentor. 
    You may know someone who has successfully created a home business and feel comfortable asking for advice. 
  3. Money in the bank. 
    Don't quit your day job just yet. 
  4. Keep competitive. 
    Also be aware of the outside influences that affect your business. Know what makes the difference between you and your competitors.
  5. All systems grow. 
    Word of mouth is the best way to grow your business. Get your name out to build your brand.
Read the full article at Entrepreneur.COM.