How To Start A Business Essay

Startup Business Essay
The Highs and Lows of Launching a Startup Company What to expect when launching a new
company?
Starting a business? Then you may start thinking– "Which business would make me the most
money?", or "Which one's going to have the least hassle at the same time?". And if you've got your
decisions down on paper already, that's great!
Because the world, today, has come to a point where thousands of businesses spring out like
mushrooms every year, while thousands dissolve like grains of salt in a glass of water. According
to Small Business Association, 627000 new startups open each year.
There are online entrepreneurs, restaurant owners, small business owners, big corporation starters,
but if you ask any random business owner if it...show more content...
But your business needs employees, sales, and profits to grow and perhaps someday, manage to
look like a wonder. Yes, the boundless potential is there. But without the building blocks, it would
just be a huge rush. A rush to find clients, come up with advertising campaigns, analyze market data
to see if your product is actually going to do well. And at this point, the surrounding will look very
simple and ordinary, and at times ugly.
Nevertheless, this has a huge positive impact. This is going to make you appreciate your growth.
Since you've started from something that looks very modest, you will always look forward to
growing and build up. And when you are a fairly big company, you'll appreciate every ounce of it.
Rapid growth has to be your next tough action because after you have put the pieces together to build
a startup, it needs to start competing in the market. That being its sole purpose, it needs to get its
engines running right away.
But do you think it's easy to compete in the market today? Any business that you start already has
competitions, most of which are far ahead in the race as you are. And what got them there? There is
no one answer to this. Better employees, high–quality technology, bigger investments, more
production, and better reputation all can create a tough competition. They've got the wheel turning
way earlier
Get more content on HelpWriting.net

Essay Entrepreneurship
Entrepreneurship defined by Jeff Cornwall at Belmont University is, "A process of identifying,
evaluating, seizing an opportunity and bringing together the resources necessary for success."
(www.belmont.edu) There are a wide variety of risks when it comes to starting and running your
own business, just some of them are: under capitalization, poor management, market misjudgment,
and lack of planning. Lack of planning and under capitalization go hand–in–hand because if you
don't properly plan your strategies and what you would like to do in the future of the company you
are trying to start, then you aren't going to be able to afford it. Like when someone says "Just
looking!" while searching for a car, you put yourself in a weaker position...show more content...
Working under this kind of prejudice might rule some people out of choosing an entrepreneurial
life style, however, there are some people who find working under such conditions fun because
they can try to prove how not everyone follows those shady tactics. "Tenacity, street smarts, the
ability to pivot, resiliency, inspiration, and the willingness to accept risk..." (www.actionmba.org,
2010) Are personality traits you should have to be successful in the world of entrepreneurship.
There will most likely be times during your endeavor that people will give up on you, your idea,
or both and you should have the drive to back up your goals no matter what. You should be able to
pivot according to where the market goes and have the ability to be successful and innovative in a
wide spectrum of situations. On the flip side, some people believe that you don't necessarily need to
be born with such traits to become a great business owner; all it takes is some practice to love and
nurture these traits so that they become just like habit! Or maybe all you need is one of these
traits that can be linked to others so that you can pick them up quickly... Further studying needs to
happen before we can know for sure but for now we do know that if you are strong and motivated,
then little will be able to stop you

Essay on Starting a Business Plan
Starting a new business is an exciting venture and has its unique mix of challenges and rewards.
Many are set–up for failure if no clear goals or measures are established and adhered. According to
the Small Business Administration, "Planning is critical to successfully starting and building a
business." The best advice for a new entrepreneur interested in starting a business is to create a solid
business plan that outlines the business in its entirety. A well–constructed, written business plan will
help owners remain focused on their operations, marketing and financial measures through the
duration of the business life. In addition, knowing the risks involved in starting a business can help
prevent and minimize mistakes that cause many...show more content...
Strategic major milestones to be achieved can be mentioned that include customers, revenue, and
expansion details. In a small business blog, Fisher (2011) states, "Think of it like a birdsвЂђeye
view of the company as it currently exists and where you envision it to be in the future." In addition,
it may be worthwhile to include descriptions of the founders of the business and their extending
experience from the industry. The operations of the business is critical in a business plan because it
describes the main components of your business. Management duties and responsibilities can be
addressed in terms of the day–to–day operations. This includes what each day of the week will entail
for the schedule of the business. Likewise, many topics should cover the nuts and bolts of the
business such as production and manufacturing, inventory, and distribution. Topics such as the
location, employees, and equipment should be considered to provide the most competitive
advantage and success for the business. Lastly, every business requires a structured form of legal
registration for licensing, insurance liability and tax purposes.
Marketing
One of the toughest challenges of new businesses is attracting new customers. Having an effective
marketing strategy in place is a vital implementation in increasing the awareness of your product or
service. The marketing strategy section should

Start A Business Essay
How to start a business from a CPA view point?
Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the
caption 'Entrepreneur'. At this very moment, there is someone, somewhere working on an idea, a
business plan or launching a startup. Entrepreneurship is on the rise like never before. The
flexibility and independence that comes with being one's own boss is attractive and worth taking
the leap in starting a business. However, most people don't know that being an entrepreneur is a
grueling journey that can be very lonely and stressful at times. According to the Small Business
Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a
scary task, but the...show more content...
If you need guidance on which market research methods work best for your business, check out the
SBA resource partner network.
2.Develop a Business Plan
A business plan is the core of your business and a must have. It is the roadmap that brings your
business idea into a reality. A business plan is a written document that describes in detail how a
business, usually a new one, is going to achieve its goals. It guides your business from the start– up
stage to developing, growing and managing your business. It can also be used to get funding.
There are different types of business plans, but most businesses fall into these two common
categories: traditional or lean startup.
If you are planning to get funding from an investor or financial institution, a traditional business plan
is required. The traditional business plan is long and very detailed, with several sections that
investors and banks look for when they are weighting on your idea to decide whether to give you
funding. Generally, the sections included in a traditional business plan are the executive summary,
market analysis, organization management, service or product line, marketing and sales, funding
request and financial projections.
If you are not looking for financial support, your business is relatively simple and you want to start
your business quickly, a simple lean start up business plan can be drafted. It focuses

Essay On Startup Business
Starting a new business requires a considerable amount of preparation. Financially, there is a large
investment to opening a store, especially in the food industry. A pizza place requires a building,
utilities, remodelling, seating, storage, inventory, employees, and signs. Once calculated together,
the financial obligation can be substantial.
In order to determine the financial requirements of a startup business, a person must consider what
is necessary to do any work in the industry you are apart of. First, I will need a building. The
amount I spend will be dependent of location and size. A location in a downtown area will usually
cost more than somewhere on the outskirts of a suburban town. The downtown area is surrounded
by enormous...show more content...
If I choose, I may also need to purchase a card reading machine, so I can take another form of
payment. To be a dine–in pizza place, I would need tables and chairs. The amount of these depend
on the size of the building I chose, and the style will depend on the theme. Any additional decor will
also depend on my theme, which could be retro or modern.
After purchasing the building, remodeling, and filling the store, I must now buy inventory. I will
need items for dough, tomato sauce, cheeses, and many toppings such as meat, peppers,
pineapples, etc. I will also need boxes and extra sauces including marinara, garlic, ranch, and
other packets. When I modeled the kitchen, storage areas were hidden under counters, and there
were refrigerators for chilled and frozen goods. I would use a physical inventory system until I
could later afford the software for a perpetual system. This will save some money in the startup.
Now that I have all the ingredients of a store, I need to hire employees. I will need cooks, cashiers,
servers, and drivers. I will cross train employees to move from cashiers to servers. I will also need
a sign to hang outside of the location, and a sign with our store hours. After hanging the signs, I will
create a Facebook page about the business, listing its hours, events, and location.
In order to start a pizza business, the financial requirements seem extensive. There are many
deposits to be made, and the cost adds up very quickly. Since a

Essay about Business Challenges
1. The most significant challenge to business success you see in this rapidly changing global
economy;
One significant challenge to business success in this rapidly changing global economy is that
many business are focused on efficiency and economic of scales. Just like the example provided by
Michael H. Hugo on Chapter 1, many companies are focused on lowering operating cost as much as
possible. This is causing for executives not leave any room for unpredicted changes limiting the
company's ability to respond to customer's changing needs.
2. An organization that has been successful in the global marketplace using virtual teams and the
best practices it used (as discussed in Chapter 7 of Business Agility: A Sustainable...show more
content...
While this is a practice enforced throughout the company, it was necessary to make sure that this
communications were clear to the virtual team in order to maintain morale and the team's trust in the
company.
3. How the Marketplace simulation incorporates these challenges into simulation game play;
The Marketplace simulation incorporates these challenges by providing student with real–world
business problems and roles. Team members are challenged to make decisions and used critical
thinking in order to solve this problems virtually. While The Marketplace gives the team the tolls
necessary to have effective communication, ultimately each team members contributes to the overall
success of the team, just like in a real business situation.
4. How your readings and individual self–assessment work provide potential solutions to these
challenges.
The unit's readings have provided many solutions to the challenges businesses encounter nowadays.
To this day, there are many companies that have business plans that concentrate strictly in lowering
operating cost, cut budgets as much as possible and overwork workers that already are overworked.
Some of this solutions include: * Thinking of the costumer's needs and being able to respond to their
ever changing needs * Management needs to be transparent and make sure to communicate with
employees, especially when the organizations is making

Starting and Running a Business Essay
Starting and Running a Business Despite being an intimidating prospect for most people, there
are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not
so much. There are many steps to starting and running a business, but many of them can be easily
accomplished simply by filling out some forms, and several small fees. Businesses have been
around since the beginning of bartering, an apple for some wheat, a horse for a wife, a daughter
for a house. (In no way reflecting what I would trade) The startups of businesses across time have
never come easy, from cost, to hassle, to threat of beheading; there have always been obstacles in
starting a business. One of the hardest parts of being an...show more content...
This is ideal for most people who want to start a business and keep their home if something goes
wrong. The largest area a permit is good for is one county. If one wishes to operate outside the
county the license was issued in, they would have to get a license from that specific county. The
most important thing is starting a business is having a business plan. This is the only way any
bank will approve you for a business loan. [1] Without this business plan, the bank has no way to
analyze the business's performance thus far. The SBA offers a template for how to lay out a
business plan. The following is how a good business template should be formatted (from SBA.gov).
Writing the Plan
What goes in a business plan? The body can be divided into four distinct sections:
1) Description of the business
2) Marketing
3) Finances
4) Management
Agenda should include an executive summary, supporting documents, and financial projections.
Although there is no single formula for developing a business plan, some elements are common to
all business plans. They are summarized in the following outline:
Elements of a Business Plan
1. Cover sheet
2. Confidentiality Agreement
3. Statement of purpose
4. Table of contents
I. The Business A. Description of business B. Marketing C. Competition D. Operating procedures E.
Personnel F. Business

An Introduction to Business Essay
An Introduction to Business
Business plays a major role within our society. It is a creative and competitive activity that
continuously contributes to the shaping of our society. By satisfying the needs and wants people
cannot satisfy themselves, businesses improve the quality of life for people and create a higher
standard of living.
It is a way for individuals to provide goods and services to consumers, and at the same time, produce
a profit for themselves. Businesses are not only important because they provide goods and services
for consumers, but they also improve the economy and increase jobs for people within society
which is an additional fact producing a higher standard of living. To measure our societies standard of
...show more content...
International trade deficits occur when a nation imports more then it exports. The Decline of
Smokestack America is when there is a change from an industrial to a post–industrial economy.
Finally, the conservation of energy is so that there are a sufficient amount of natural resources
necessary to produce goods. General economic growth or stagnation also has an important influence
on business within our society. Many factors can affect it's condition, such as war, new inventions
and technology, political assassinations, the discovery of physical and natural resources, labor
negotiations, government action, and many others. When the economy is strong and the demand is
high, businesses can prosper. Regardless of how great the economy may become, businesses still
must compete with other firms for scarce raw materials and labor.
A businesses environment creates many opportunities as well as problems for prospering businesses.
The environment determines what a business can do by shaping and channeling its development.
Businesses function within an environment by allowing entrepreneurs to raise capital and create
profits freely. The supply of money available within a business as well as the economic stability
through times of growth and recession have strong effects on businesses. Not only is the physical
environment, including natural resources, pollution and energy as discussed previously, important,
but many other

Starting a Business Essays
Introduction
More and more people are beginning to open their minds to new business ventures. It seems like it
is becoming the popular move. By opening a business there could be huge profit to be made,
depending on the market. On the other hand, there are risks and losses that may occur as well. It is
said that there are two reasons why people start a business. The first reason is because they have
inspiration for what they believe would be a great idea and the second is from desperation. People
have a need to make money and there are no jobs out there, which they found, that suites them or
their needs. There are various different ways to start a business. Not all entrepreneurs begin their
business by the thought of an idea....show more content...
The most important step in starting a business is the business plan. If the business plan is not
completed then the business is more likely to fail, lenders are less likely to lend money to the
business, there could be a loss of investment or other bad things could happen. Most of all the
preparation for the business is not there and the owner(s) may not be prepared for most of the
situations they will face.
In order to find out a way in which to figure out the needs and the wants of potential clients, a
good idea would be to do a survey. This will allow the business owner(s) a chance to get a
reflection or thought of the people that will be using the services of the company. This may
increase the sales or services of the business as well. Another survey that could be completed is to
find out with other companies in the same market are heading toward. Also by doing this it can
enable the business to redesign the business before it is too late, to adapt to the needs of the
consumers. Keeping in touch with the public needs will help the business in the short and long
term periods. This step should be done before the business plan to capitalize on the survey done. To
be able to get this done correctly, there are people who work for the Governments that are trained
for this kind of thing. The places known off hand is the Business Service Center, and ACOA
(Atlantic Canada Opportunities Agencies). These are Federal

Choosing Business Structure Essay example
Starting a business can seem like a daunting task, when really there is a systematic approach that an
entrepreneur can take to setting up a business. There are many factors to consider when setting up a
business structure; these factors include start up cost, operating costs, liability, and taxation. A
business owner will also want to look at whether or not they may want to expand in the future,
which will also play a factor in what type of business they should set up. This paper will look at the
advantages and disadvantages of sole–proprietorships, partnerships, limited liability companies, and
corporations. As well as look at what courts can do if a business operates outside the scope of
accepted business practice. There is no "one size...show more content...
A sole–proprietor also has unlimited liability, which means the business and the owner are not
separate entities. (Ref. 1, pg. 1) Therefore they are responsible for any damages incurred by the
company and any personal property may be taken to pay for damages. Because a sole–proprietorship
is not separate from the owner the income from a sole–proprietorship is taxed as personal income, or
"pass through" income. The business owner has to pay FICA taxes of 7.65% on all income up to
$94,200; they also have to pay an additional employer FICA tax of 7.65% on that same first $94, 200
which brings the total to 15.3%. The owner also pays a FICA tax of 1.45% on all income of
$94,201 and above because all income is treated as personal income for the business owner. These
taxes are in addition to state and federal income taxes, which also tend to cater more to other types of
business structure, particularly corporations.
Partnerships are the least used type of business making up about 11% of US business and account
for only 8% of the profits. (Ref. 3, pg.76) Partnerships are very similar to sole–proprietorships in the
form of structure. Each partner takes their assets and pools them together to form a company. The
advantage of a partnership is a greater pool of assets or capital, and shared risk among the partners.
In a partnership the owners can all provide operating capital, as well as apply for loans which give
them more

Small Business Essays
Numerous large businesses that are operating today were once started as small businesses. A new
business is established to create a good or service that no other businesses have ever created or
simply a product of higher quality than existing products, with the purpose of meeting customers'
needs and earning profits. Due to the technological advances at the present time, starting and
operating a new business is less laborious. Nevertheless, would–be entrepreneurs should be familiar
with the proper approaches to start their businesses.
The first step to starting a business is to create a business plan. A business plan is a document that
outlines the overall strategies of a new venture and how those strategies will be implemented (Ebert
&...show more content...
However, the business owner can also attempt to operate his/her business by bootstrapping, which
refers to the operation of an entity by using limited sources of capital (Gregory, n.d.). In addition, the
financial factors should also include financial planning. Financial planning normally refers to the
cash flow and income statement, balance sheet and breakeven analyses. Therefore, there are three
major sections to an ideal business plan that are the organizational goals, the sales forecasts, and the
financial factors.
After the creation of a business plan, the next step to operating a business is the selection of an
appropriate business structure. Different legal forms of business ownerships affect different
managerial and financial factors from the business names to the tax obligations (Gregory, n.d.). The
most common forms are sole proprietorship, partnership, cooperatives, and corporations. There are
different types of corporations in the business world, but the two most general corporation types are
S Corporation and Limited Liability Company (LLC) (Ferrell et al., 2013). The sole proprietorship
is the easiest and most basic form of business ownership. It is owned and run by one individual,
which is the proprietor. The individual is entitled to all profits and is responsible for all the business's

Starting A Business Essay
Starting a Clothing Line Business
Apparel manufacturing is one of the most in–demand businesses today. Find out how to start and run
a clothing business.
The First Step
Apparel manufacturing remains one of the most in–demand businesses today. According to the
American Apparel and Footwear Association (http://www.americanapparel.org), apparel sales for
2000 reached $315 billion, representing a 90% growth from its 1990 levels.
Starting a clothing business is just like any other business: you need to have the resources to
jumpstart your vision, skills and know–how in managing the business, and marketing savvy to
promote the business. You must also have a business plan that will serve as your detailed guide that
will walk you...show more content...
Find out how to start and run a clothing business.
The first step you must take is to determine what kind of clothes you want to manufacture. Ascertain
if there is a market for your proposed product. You must be able to define your specialty, both in line
and price category.
The market for clothes is as varied as the demographic segmentation of the population. Will your
focus be based on gender (girls or boys; and women and/or men) or age (baby clothes or granny
clothes)? Are you planning to create clothes for infants or apparel for large women? Do you intend
to create apparel for pre–teens, career professionals, or school clothes? The market is so wide and
varied.
You can design clothes for a specific niche market. You can venture to create apparel for sports
enthusiasts and athletes. Even then, you still have to decide whether you will design golfing
apparel, tennis outfits or swimwear. With the increasing popularity of yoga, yoga clothes are very
hip nowadays.
The scope of your product line also needs to be considered. Are you planning on designing a full
product line, separates or coordinates?
The type of distribution will also dictate the kinds of clothes you will offer. Note that where you
sell your products will depend largely on who your customers are. Will you sell your clothes
exclusively or will you use other distribution methods?

Essay about My Business Idea
My Business Idea
In my coursework I intend to start my own business. I will devise my own business plan which
outlines my business proposal and the key aspects, during this I will need to seek good business
advice on the necessary steps I will have to make. As I go through the coursework I will show
evidence, examples and explain how businesses are set up, what types of businesses there are and
their similarities, the kind of targets businesses set for themselves and also the different objectives of
different stakeholders. For my business I plan to sell toys and other game products that educate
young children under the age of 11.
Starting up a business is difficult and risky. Anyone setting up needs to consider:
В·...show more content...
Most people though have to research their product. Businesses also have to decide how the product
is to be made.
Finance
=======
No businesses can be set up without finance. Most people who start their own business
underestimate the amount of money they will need to set up. They are often UNCAPITALISED
and this causes problems as the business expands. Some businesses have the potential to be highly
profitable but fail because they run out of cash at a crucial early stage in the life of the business. So
it is very important to work out how much money is needed to start the business and to identify
where the money will come from.
Identifying the sources of help
===============================
Most new businesses don not survive for more than three years of trading. However, their chance of
success is much greater if those setting up the business have received help from experts before the
launch. Many new businesses turn to Business Link or to their local
TEC. They can identify any grants, loans or benefits that are available from government or from
bodies like the Prince's Trust. They can also organise training in setting up small businesses that is
so often vital to the survival of the business.
The business plan
=================
Drawing up a business plan is very important. The business plan sets out how the business is to be

set up and

How To Start A Business Essay
In this report, I will discuss what it takes to own your own business and what factors go into it.
My overall dream some day is to own my own business and with this comes a great deal of
responsibility. I will help you understand what you can to do to become a successful business owner.
Finding a consistent well paying job has been getting harder and harder in recent years. A number of
new and great business opportunities are available to the public. These opportunities only cash in if
you run a well rounded business plan. Anything from wholesaling vehicles to owning your own
pizza parlor are great starts in business. Although, owning and operating a business is a great burden
on a person, it can turn out to be very profitable.
While...show more content...
With all of these challenges their come failure at the job as well, which can lead to disciplinary
action, arguments, transfers, dismissals, or legal actions. So are you ready to own your own
business yet? Not quite! Some things you really need to remember.
Say goodbye to a reliable and predictable income. No job is 100% secure and there is a good
argument that being in control of your income via your own small business is more secure than a job
however it doesn't feel like that, especially when you start out. You can have great months and bad
months and the only constant is unpredictability. Many business owners don't know that they will
never make real money until they sell their business.
Unfortunately many business owners often don't make much more than an average salary, even
sometimes less. Many business owners don't make a big windfall until they sell their business and
often by the time they are making the sale they will be using the money for retirement. Although it is
also true that the only way to become really wealthy, besides inheritance and lotto, is by starting your
own business.
The reality is that only a small percentage of businesses make their owner really wealthy, the rest
stumble along earning an average wage. Of course many of those owners earning an average wage
love their lifestyle and only wok as hard as they want to. Running your own business has the greatest
potential to make you rich and my never make you rich,

Reasons For Start A New Business Essay
5. A)There are several reasons for starting a new business. The benefits include the owner's ability
to make virtually all decisions in the business, and can run it exactly as they please. The owner
has the freedom to define the nature of the business, and create the preferred type of physical
facilities. The owner can select a competitive environment, and take advantage of the latest
technology, equipment, materials, and tools. The owner will also have control in selecting and
developing personnel. Overall, the biggest reason to start a new business is this idea of freedom
and being one's own boss. Having this control and ability to sculpt the business into exactly how
they want it to be is one of the major motives to start a new business. Another advantage of
opening a new business is job security (Templeman, 2014). By opening your own business
(assuming it is successful), you never have to worry about being laid off or losing your job
unexpectedly. Another reason to start your own business is the amount of skills you will learn
while working, and the likelihood that you will become an expert in your field (Templeman, 2014).
However, running your own business is not as easy and simple as it sounds. Some reasons against
starting a new business is the fact that it is expensive, difficult, and requires a lot of unpaid hours of
one's own time to get the business up and running. Some may have problems finding the right
business – what type of product or service should this

How You Start Your Business?
How to start your business? Starting a small business isn't easy, but it isn't impossible. According to
the small business administration 99% of all businesses in the United States are small businesses and
they employ 80% of the population, so many people have already succeeded in starting a business.
But this doesn't mean that starting a business is a walk in the park, according to Forbes 8 out of 10
businesses fail within the first 18 months. There is a lot of hard work required in starting a small
business and many steps that should be taken to ensure that a small business would be successful.
The first step in starting a small business is in the idea, if the idea isn't good, the business probably
won't be profitable. The market is...show more content...
After this, one must describe how one intends to compete with other businesses, stress what the
business can bring to the table so that people will buy into it. Make an example of how effective or
unique a business is so it will have a large appeal to many future customers.
The next issue is market analysis; this should showcase a large knowledge of the industry and will
be used while trying to seek out investors. The market analysis will require familiarity with the
market and its needs. According to Michael Kerr the analysis should include the current state of the
market and predictions for future fluctuations in the business. Specifics are important in the analysis
and anything that could impact the outlook of the market should be included in the analysis. It
should also include the scope of competition and how much money consumers tend to spend on the
service of product. A good business plan must emphasize how a business will be able to meet the
particular needs of the market to the satisfaction of its costumers. Ones business must be able to
highlight its competitive advantages. A meticulous market analysis will allow ones business to
define its market strategy.
Market strategy will be much easier once the entrepreneur has completed their market analysis, as
this has allowed them to become familiar with all the challenges and opportunities that will be faced
while building a business in their particular field. Ones strategy involves looking at the

Challenges in Starting a New Business
Starting a new business can be very exciting as well as challenging. It can be exciting because it
might be a transition from being an employee to owning a business and becoming one's own boss
where there is freedom of doing things without anybody's influence. The idea of being a business
owner can be very exhilarating in itself. Bateman states that 'The control and ownership of a business
is a very powerful feeling. Having ownership is like an adrenalin flow. It gives you more energy –
you start to see what you can achieve.'(Smith, 1997, p. 149)
There are numerous advantages of having one's own business. The potential to earn a higher income,
independence, being one's own boss, ability to fully implement one's creative talents, choosing
...show more content...
A large number of small businesses fail each year due to insufficient funds or capital. Many
entrepreneurs miscalculate the amount of money they need to start and operate their business.
They may later find that they need more capital in order to sustain till the business is fully
established. Others are likely to suffer as they may not be able to market themselves or their
product or because they find that they are unable to supply all the required products. Yet others may
not even have the ability to pay for any extra help. This one fatal error in calculating the capital may
cause the business to suffer heavily and lead to its eventual downfall.
It is always wise to explore the possibility of having extra capital in an event that the business
required more funds. However, the crucial point still remains that the entrepreneur take great care in
determining how much funds are needed in order for the business to survive till the time it can be
properly established. Generally, a new business would take around but is not limited to six months
before it starts to generate enough income to fully sustain itself. Thus the entrepreneur needs to keep
this time frame in mind when determining the initial capital. It would also pay to have a separate
living expense for the first six months of starting the business.
The third challenge is to find a niche. Knowing which product to sell and the sort of market it will
have is another big challenge for all entrepreneurs. Before

How To Start Your Business Essay
Steps to Start Your Business Cover the Basics Take Seminars and Training Classes. As a new
entrepreneur, it 's wise to have some background information on various aspects of the business
world. Learn the various characteristics about a business, from handling finances to your
responsibilities as an employer. Choose a Location for Your Business. Planning and searching go
into finding the right spot for your new venture. Consider demographics, supply chain management,
competition, budget, zoning regulations, local workforce and growth potential. Determine Legal
Structure and a Name. Depending on the legal structure, your business should be filed with our local
county clerk 's office or the Secretary of State. If your business is taking a name other than your own,
read the following instructions. As a Sole Proprietorship or Partnership, file an Assumed Name
Certificate for local registration with the Hidalgo County Courthouse. For business entities in the
state registering as Limited Partnerships, Registered Limited Liability Partnerships, Limited Liability
Companies, Corporations, Professional Corporations, Non–Profit Corporations and Professional
Associations, file documentation with the Texas Secretary of State. Corporations must file Articles
of Incorporation. Write a Business Plan Executive Summary. This portion offers a first glance of the
information detailed in your business plan. It highlights your company's profile and goals. For
established businesses, it

My Dream Of Becoming A Business Owner
Introduction In today's world many people dream of having their own business. Sometimes that
dream never comes true because that person does not have the funds nor resources to make it
happen. Many of those potential entrepreneurs reach out to other in hope to make that dream
come true. I am one of those dreamers and I hope my dream of becoming a business owner has
come. This dream can only come true with the help of you as an investor. Please take the time to
study my profile. I hope you will find that I am capable of owning and operating a success
business. The business I am starting is a wedding accessories specialty shop. It is a one stop shop
where you can get practically everything you need to make your wedding special. You...show more
content...
Although these employees have specific duties they will all help with other duties. We are to be
one family focusing on the needs of the customers. The reason I have decided to open this type of
shop is because people are always getting married and they get so frustrated when they have to run
all over town to get the items they need for their wedding. This a business that will always be a
need for. It has a high potential market and customers will not mine paying the extra money to
get most of their items for the wedding at one stop. Listed below are some of the chart of
accounts that will be used in my business: Cash$15,000Note Payable$30,000Supplies /Inventory$
15,000Rent Expense$ 1700 Advertising Expense$ 1,000Gasoline Expense$ 700 Prepaid
Insurance$ 1,500Utilities Expense$ 1,100 Van$22,000Wages and Salaries Expense $28,000
Equipment$15,000 The accounting method I will be using is the GAAP method. The business I
am expecting to open will not be global but local. Our webpage will be out on the Internet so any
one can purchase our items. So therefore, GAAP method would be more efficient. Also, the
GAAP method uses cost principle versus fair value principle. In the cost principle the company
will record assets at their cost. The cost principle will not only be used at the time of purchase but
also over the life of the assets. For example, if I

Essay On Startups
Elearning For Startups: Accelerate Learning For Your Crew, Propagate Success For Your Company
More than half of all startups fail within the first few years of operation, with the primary causes
being lack of knowledge and lack of experience. If you're a small business owner or even a larger,
well–financed startup, these statistics are terrifying. You pour your heart, soul, time and most of
your money into a company that has this constant dark cloud of "likely to fail" hanging over it.
That kind of pressure is grueling and it doesn't make for a very productive work environment. What
if you could take the lack of knowledge and experience out of the equation for your business; thus,
giving it a remarkable edge. What if you could infuse your...show more content...
How do you anticipate the future and therefore, prepare for it? If you can't predict markets,
consumer trends and supply chain challenges, how can you keep a business running? When should
you scale and how fast should it happen? To scale or not to scale is a major hurdle for most startups
and one that can cost them everything if they don't get it right.
These and other soul–searching questions should give you a good idea of what you're lacking in
terms of experience and education and provide the platform for learning in the near future. These
are pivotal questions you don't want to look back on with the answer "If only I knew then what I
know now". Know it now, to avoid many of the costly mistakes startups trip over.
Organize Your Resources
The budget for most startups isn't usually very large, but your need for education is; therefore, it's
important to prioritize current spending and only allocate resources to projects that will propel the
company forward. Elearning can save you needed funds in a number of ways:
Travel: Even if your training facility is local, the expenses involved in transportation are
considerable. Facilities And Instructors: With in–house corporate elearning, you won't be burdened
by the price tags for renting space and hiring instructors. Employee productivity: While your people
are traveling to and from training and while that training is underway, you're still paying them

How To Start A Business Essay

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Ähnlich wie How To Start A Business Essay

Ähnlich wie How To Start A Business Essay (13)

Mehr von Best Online Paper Writing Service

Mehr von Best Online Paper Writing Service (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

How To Start A Business Essay