Business entity registration

How can I prepare to start my business?

I just got laid off from my job, and I’m thinking about starting a business. Do you have any suggestions on how I can get started?

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Answer

  1. 28 Answers
    This answer is edited.

    Nothing can be offered until you identify, identify, identify.

    First, Identify your passion.  What do you desire to offer the public that is either better than competitors, or unique altogether?

    Second, Identify a Need.  Where/What is the problem? Where has businesses   fallen short?  What does the current economy want?

    Third, Identify your solution.  Every problem has a solution.  What are you proposing that will be a solution to the need?

    Okay, you found your passion. Check.  You identified a need. Check.  You have a solution(s). Check.  Now…

    Fourth, Count the cost.  Finances are required to run a business! The point is to reduce overhead to maximize profits and keep debt low to about 40% or lower to generate enough cash flow to service company debts.

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