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MAKE SURE YOU HAVE
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The personality it takes to manage a business.
You will be your own most important employee, so an objective
appraisal of your strengths and weaknesses is essential. |
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Considered the type of business suitable to
your skills, interests and the local economy. |
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Defined the business in detail. It sounds
silly, but many owner/managers never truly ask themselves what
business they are in. |
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Reviewed the four basics of success: sound
management practices, industry experience, technical support,
planning ability. |
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Drafted a business plan. This is your business
rsum. |
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Considered legal issues, some of which may
require a consultation with a lawyer well-versed in state and
local regulations. |
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Figured how many employees youll need and how
best to find them. Decide before you hire what you will want
them to do. |
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Thought about the cost and power of a computer
system. Youll need to decide whats best for you. Remember:
computers can only assist; they arent cure-alls. |
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Thought about the size and flexibility of the
telecommunications system. You will have to be able to easily
expand as your business grows. |
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Drawn up marketing and advertising plans. What
do your customers want and what can they afford? A local
advertising agency may be able to help you reach them. |
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Explored location options: renting office
space vs. working out of your home. About 20% of new small
businesses are operated out of the owners homes, but you will
need to consider local zoning laws. |