Tips to Open Your Own Business

Tips to Open Your Own Business

Several years ago, along with my father take the initiative to start our own business. We can count on this source of income to help us meet our financial goals. Although at that time I had a degree in business administration and knowledge of the theoretical steps to take to start the business; the moment of truth, the most important thing for me was the determination and dedication that has made him successful.

We still have many things to improve, but I want to share things that I consider essential to achieve this. The business has had its ups and downs, but every day we learn something new and that’s what matters.

Here is a list of tips that everyone, no matter the business, you can consider:


I do not know how to say this easier. The most notable problem I’ve had in my business is that at first we were all excited about the business, but we forgot to have a plan of organization. At first you will have many heads, have to be an accountant, secretary / a, messenger, collector, publisher, etc.

All areas are important and all need to have a development plan. You have to know how to take the minutes of the meetings, regardless of where the money is being spent, who have to meet, and more. For this you can use several tools:

  • A bank account for the business, you can go to any bank and open a business account in your name. In the US each person is a business.
  • A system of how to record the output and input of money (Excel is fine). This will help you know where the money goes and where it goes.
  • An agenda to find things to do, who is going to do and the next steps to take being late or missing a business meeting can cost thousands of dollars.
  • A filing cabinet for storing important documents, but even if your business is about your customers’ confidential information.
  • A monitoring system for customers

Define your business plan

You should, in your mind, make your business a reality by defining all the aspects you may have. Although the process of making a business plan automatically goes through our mind, the problem comes because we do a good job of writing it down. A business plan is essentially to get a loan for a small business.

  • The product / service you will be offering.
  • Who are you going to deliver the product / service?
  • Where will the establishment.
  • The types of licenses and registrations you have to get (if applicable).
  • Where will the money come from for the business?
  • How will you promote the business?
  • Someone offers this product / service. If the answer is yes they can be your competition or could guide you on the things that were challenging to open the business.
  • How many employees need and how you will carry the payroll.
  • Try to visualize your business (high and low) operating for several years.

Stay calm

Not everyone in the business will come out as you expected. They will see losses, unhappy customers, and other things beyond your will that could undermine the success of your business. Try to remain calm and seek solutions to the problem, No business in the world that does not have its ups and downs.

Many are the days in which I think would be best for me to leave the business and continue my career, but I stay calm I move on. It’s also good to know your limits; if the business shows no signs of life and is only giving more losses than you can endure should reevaluate your strategy.

Make an inquiry

We are in the era of computer and chances are you can find on the internet a wide range of information on how to start your own business, how to find financial aid, industry information, etc. that will help you make more educated and concise decisions about your business.

On the internet there are free training courses entrepreneur, information regulations, etc. Use your resources to achieve your dreams of entrepreneurial.

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