How to Avoid Common
Small Business Problem Areas
You can avoid or mitigate common small business problem pitfalls with a home based business. There can be a lot of risk and uncertainty involved in starting a new business, as well as excitement and passion. To start a traditional business, here are the steps you will have to take.
Common Business Problems and Pitfalls:
- Name your business
- Seek funding sources
- Search for outside advisors (attorneys, accountants, etc.)
- Obtain necessary licenses and permits
- Set up relationship with banker(s)
- Protect proprietary information (patents and copyrights)
- Write a business plan
- Select a location
- Form manufacturing, procurement, and service procedures
- Set up bookkeeping, accounting, and office systems
- Determine pricing strategies
- Determine employee compensation methods and systems
- Set-up employee programs
- Prepare marketing plan
- Seek insurance coverage
- Address legal issues
- Fine-tune cash flow budget
- Set up your office
- Hire employees
- Announce your business
- Initiate advertising campaign(s)
Oh yeah, you also need a marketable product or service, the biggest and most important small business problem to overcome.
There are several other business models and systems that completely shatter the traditional business paradigm and eliminate most small business headaches. And still reap all of the benefits and advantages of having a business. You can also eliminate another common small business issue: the huge time investment required for success.
Thousands of people are running legitimate businesses from their own home offices who never thought they could. And their doing it in their spare time. And their doing it without any of the common small business problems listed above.
Request our FREE Home Business Success Pack to see how.
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Learn to Avoid Common Small Business Problem Areas
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