starting a new business...any advice would help?

Question

-Good Day people

My brother and myself are trying to start a small business, so far we have done tons of research and now working on our business plan(which seems to be taking long...just want to get it right) Just wondering if there are any people out there that can give me any advice on getting started? Also, any resources on where we can get grants for starting a small business in MN?

-Thanks to all replys Take Care *smile*

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:

* How to Really Start Your Own Business, Fourth Edition by David E. Gumpert
* How to Really Create a Successful Business Plan: Step-by-Step Guide by David E. Gumpert
* What No One Ever Tells You about Starting Your Own Business: Real-Life Start-Up Advice from 101 Successful Entrepreneurs (What No One Ever Tells You About Starting Your Own Business) by Jan Norman
* Business Start-Up Kit by Steven D. Strauss
* Start Your Own Business (Entrepreneur Magazine's Start Up) by Rieva Lesonsky

MN Specific:
* How to Start a Business in Minnesota by Entrepreneur Press
* How To Incorporate and Start a Business in Minnesota by J. W. *****

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

An SBA loan would be good. Another thing you should do is get lots of market research. Some thing that could also help you is signing up at www.bravehost.com (it's a webhosting site but there is more) and sign up but don't register for hosting and you will recieve a newsletter in your email every week telling you some cool things for business owners and It also has free offers.

Answer 3

I agree... SCORE is great. They are very helpful and you can even e-mail them with questions. I have atttended one of their seminars and found it very helpful.

As for grants, you might be out of luck depending on what you do. Most grants are for non-profits. Believe me, as a small business owner I have searched high and low, but have not found any "free money." There are loans out there or you can find investors. 0% credit cards are always there too if you can't get any other funding :)

Good luck on the business!

Answer 4

It helps if you're doing something that you've a passion for. If you enjoy what you're doing most likely you'll be very good at it. Start small but think big. And take calculated risk. Most sucessful entrepreneurs are not afraid to take risk. Good luck!

Answer 5

SBA loan (small business administration) is a government agency. Can't help more without knowing more about the business you want to start.

Answer 6

Congrads on starting your business.

One of the first places I'd check into is S.C.O.R.E. (Senior Corp of Retired Executives). There should be a local organization in your area. If you can't find it in the phone book, check with your local chamber of commerce.

I've found these guys and gals to be a tremendous help -- even have two of them as clients now. They were able to help me with my questions about loans, advertising, networking, etc.

Hope this helps.

Answer 7

be prepared that it can take a while for a new business to get "legs".. Used to be they'd say if you can make it through the first thee years - you'll be ok.. but I'm sure that's changed now with internet etc.

good luck