1. Evaluate the market for your startup business. You must develop substantial knowledge about the marketing environment in which your new business will operate:
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• What is the market like? (size, dominant players, price points, seasonality, customer mix, etc.)
• What is required - start-up capital, expertise, etc.
• How will your start-up's offerings fit the documented needs of prospective customers?
• How will you effectively promote and sell when you're just starting? And ... how much will it cost? |
Doing the market research to answer these questions is the first step in determining whether your business idea is workable - before you start.
2. Learn everything you an about the business. Subscribe to trade magazines relevant to your business. Such magazines are listed in the Standard Periodical Directory (75,000 listings) - in the Reference Section of the main branch of the Vancouver Public Library. Many magazines are free. Good information will keep you from wasting time and money in your start-up business.
Join a trade association. The Encyclopedia of Associations (also in the Reference Section) lists all trade and professional associations. Contact the appropriate association. You'll be surprised at the valuable information which they can provide to your start-up. Many have specific publications for sale which directly relate to your startup business.
3. Learn the basics of business. SCORE offers cost-effective, time-effective workshops and seminars for new businesses. These are held in Vancouver, Washington. Click here to learn more.
Information and links for business licenses, taxes and other important starting business requirements can be found here. State of Washington requirements can be found here.
An article about business incorporation for a startup can be found here. And here.
4. Get expert advice. SCORE gives your start-up one-on-one business help from a seasoned business consultant. Each volunteer consultant can advise on your start-up venture: assessing ideas, preparing a business plan, raising capital and managing the operations and finances. Click here to schedule a free, confidential business advice session.
Business tips are posted here. These articles are written by SCORE consultants to help you improve your startup business and provide valuable ideas and lessons for anyone just starting out.
5. Write a business plan. SCORE offers a Business Plan Workbook for starting any business. And other start-up business tools - books, CDs and software to help your business get started. Details here.
6. Read books on marketing and selling. Read at least four of them! Marketing and selling are not the same, so be sure to get books on each. Marketing and selling problems are the largest single cause of startup business failures in the U.S. Get smart and develop a marketing plan and a sales plan before you start your business.
SCORE is a nonprofit association dedicated to providing entrepreneurs and small business owners with confidential, free business help. Our Vancouver, Washington consultants are experienced business owners and consultants who volunteer their time, offering free business advice to any small business owner or prospective business owner. This Chapter serves Vancouver, WA and Longview, WA as well as Clark County and Southwest Washington - your source for free business advice and consulting. We provide business consulting, management advice and marketing help for business owners of small to mid-size companies in the Vancouver, WA area. SCORE has been consulting for over 40 years. SCORE is a resource partner with the U.S. Small Business Administration.
