How can you run a small business? Hey guys,
I have 3 months until I graduate school high and I want to know what steps I have taken before, during and after college to open a small business. I thought either a retail clothing store as Tilly or Pacsun or Brazilian Jiu Jitsu Academy. I plan to attend community college 2 years and 2 years at a state university, but after that I am a bit in the shade on the entire process of opening a business. Thank you in advance:)
Spend a mere $ 30-40 and buy the book "Small Business for Dummies". It will guide you through the basics of creating a business. As you can see people literally write books together on this if it is not something you can learn from a couple of points on Yahoo Answers. And many regulations and licensing requirements are specific to your city if you also join your local chamber of commerce that will have many resources and information specific to your situation.
Library visit - great info valid for opening a business.
A couple of resources.
Find information and books available from www.nolo.com (their books are also available from all major book seller, but the site also has free information.
SCORE is a resource partner of the U.S. Small Business Administration has over 11,000 business volunteers in 389 chapters throughout the United States that business lawyer to help small charge. Find a chapter near you to http://www.score.org/findscore/index.htm ...
Find out what your state requires as much as getting a tax identification number. You'll also need a license from the city you do business in. Go to City Hall, there is a good chance they'll tell you what they need before they can give you a license. Also, you can subscribe to a federal tax ID and the IRS website will guide you through the process. As a small business owner, let me tell you that the easy part is setting up everything. This cake made from running the business.
For starting new businesses and I would recommend
http://www.angelbusinessloans.com
I can only give the songs the most basic yet important to notice that I learned the hard way and they are .......
1) Always put money aside for emergencies because they happen at the worst time
2) Always have a liability insurance .. there are con artists out to gain a dollar or two, at your expense. Also, have insurance to cover your inventory and accessories.
3) Research the company you want to invest in research and then a little more, try to watch all the things you can imagine, think about how you are going to offer something that nobody else is
4) Always, always get all the details in writing when it comes to a case. The days of a gentleman's understanding has fallen to the wayside. I had a thriving business until the person that I "bought" the company achieving a rapid. I learned the hard way that a witness report is useless ... It must be written to stand in the courtyard. Basically, without a written agreement signed by all parties concerned, it is your word against theirs.
Posted on March 14, 2010.