NEW ENTREPRENEURS

New entrepreneurs need to make decisions about several issues before they start a new business.

Of course, the business name is one of the first steps. Choosing a name can be difficult but you cannot start marketing your business if you do not have a name for it.

Get business cards printed as soon as possible. You can start handing out cards even before you open your business to generate excitement about it. Business cards are the first form of advertising you do for your business. You need not spend a great deal to get professional cards. Go to iPrint or to Vistaprint for inexpensive cards.

The internet is a great resource for getting information about starting your business. You can find current trends in your business, marketing ideas, news that effects your business, and advice about starting your business.

Sit down a do a rough estimate of how much money you think you will make. Sometimes this helps you make a decision about opening your business in the first place.

It is important to have all your information about starting your business in one place. Find a room or corner of a room where you can keep all the information together about your business. This is a place where you will consistantly do your business before you start.

Get your financial information organized. Where is your start-up money coming from and how much will your have? What expenses will your have? Set up some kind of basic bookkeeping so you can keep track of what your expenses are even at this beginning stage. Get bookkeeping software such as Quickbooks or Quicken. If makes accounting a lot easier to keep track of.

Start looking for customers. You can't do business if you don't have customers. You are not in business until you get out there and start trying, no matter how scary it seems.

Here are 10 steps you must do before you start.
1. Talk to an accountant and/or an attorney. You want your business to get off on the right foot.

2. Find out who you competition is and objectively evaluate them. Lean what they are doing right and avoid what they are doing wrong.

3. Get all the proper documentation and licensing you need. Find out the laws for your state, county, and city. Especially learn from the Health Department what they expect if you are opening a tea room or tea bar.

4. Get an email address and a domain name so no one else can use it to steal your customers away. You'll also look professional if they can reach you this way. Don't use your own personal email address.

5. Find how about industry and trade associations that involve your business. These are a great source of information and help for your type of business. Also it is a great way to contact others in the same business you are but not in your area.

6. Get a business bank account. You need to keep your personal and business finances separate.

7. Write a business plan. It will give you a look at where you are and where you want to go and how to get there.

8. Develop a budget. How are you going to know how much money you need if you have no idea of what you financial needs are? One caution, be extremely conservative on estimating income. Things always take longer and cost more than you expect.

9. Get a software program for keeping track of your accounting. If saves you time and keeps things organized for you. Check out Quicken or Quickbooks or Microsoft's Small Business Accounting.

10. Develop a marketing plan. The major share of your budget should go to advertising. How will anyone find out about you if you don't advertise? Find out who your target audience is and the best way to reach them. Although you would like everyone to buy your product you have a definite audience who is interested. Use direct mail, network, but most of all get out there and call on customers.

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