HOW TO START A BUSINESS

Starting a business usually begins with an idea for a product or service that seems to fill a need in the marketplace.

Taking an idea to a profitable business (or in the case of a not for profit enterprise - a sustainable operation) requires a considerable amount of planning and effort. There are a number of questions that should be addressed before the business is launched such as:

Are the principals well suited to own and operate the enterprise, or do they need additional skills and talents to complete the management staff?

Is there a reasonable market demand for the product or service to be offered, and has that potential been objectively researched?

Are the funds needed to pay for start up costs and ongoing expenses available or obtainable from known sources? Does the plan include a realistic cash flow analysis showing where the moneys will come from and how they will be used in the business over a period of time while the business is established?

Has a business plan been developed based on a strategic plan that has been reviewed and agreed upon by all the principals involved and other trusted advisors?

SCORE counselors have the resources and knowledge to help the entrepreneur evaluate their potential for success and the tools and skills to assist the new business owners answer these and many other issues which are critical for a new business, or to enable an existing business grow and prosper.