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Posted at 3:07 PM on 11/5/2009
Entrepreneur Editor
Community Editor , Entrepreneur Editor

What are 5 tips for first-time business owners?

Let's hear from the veterans of the group. What should every new entrepreneur know? What do you know now that you wish you knew when you started?

Gavin Tonks
Mr
Elective Investments And Gavin Tonks Design
Posted 11/8/2009
1 - Do your homework
2 - Do not confuse market of billions with your business and market potential the question is how much market can you generate and do not say you are going to take on 5% or beat wal mart at their own game highly unlikely
3 - Do not think that you need money to start a business you really need sales the rest can come later
4 - As much as the odd entrepreneur does change the world banks and financiers are looking for people that will make them a profit and pay the money back
5 - know your steps and remember to ask yourself the question would you invest in me and do not ask an investor to invest in your lifestyle

Elaine Bishop
CEO And Founder
Posted 11/8/2009
I. PRE-TEST PRODUCT AGAINST MARKET NEEDS to prevent wasting time and money

II. PRIORITIZE RESOURCES--money, relationships, partnerships, environmental support

III. CAREFULLY BUILD WEBSITE and SELECT WEBSITE MANAGEMENT COMPANY

IV. ACCEPT that investors will own and/or participate in your business

V. READY ... SET ... network ... advertise ....

Elaine, CEO GBIntel

Al Delgado
Founder
Business Ideas Coach
Posted 11/8/2009
1. Know yourself.
2. Set clear, achievable, timeframed objectives.
3. Research your market.
4. Plan,Plan,Plan.
5. Find an idea.

Al Delgado
www.businessideascoach.com

Tim R. Monroe
Founder/Owner
TRM DEVELOPMENT LLC.
Posted 11/10/2009
1. Thoroughly explore the concept
-Know everything about what it is you want to accomplish, what you have to bring to the table & what the venture has to offer in return

2. Develop the model with precision
-Don't attempt to reinvent the wheel, aim to make it better so the venture eliminates pain or adds pleasure to its niche market

3. Plan strategically
-Create a "bite size" action plan with goals & objectives that translate into tasks

4. Review & Analyze
-Constantly review your progress, learn from your mistakes & always, always analyze your numbers

5. Benchamrk progress
-Identify your strengths along the way & build your foundations upon them

-Tim R. Monroe
TRM Development
"Helping Start-Ups, Build-Up!"
www.trmdevelopment.com

james Coley
Premium White Pro
Premium White Pro
Posted 11/10/2009
1. Set Goals short term and long term
2. Talk to business owners in the same line of work to find the biggest pitfalls starting and gettingcustomers.
3. Research and read about marketing your business. Reading some about publicity would be a plus also.
4. Business Plan. You may be able to find a template one to buy online.
5. Check out these two free sites with plenty of resources

[url=http://www.prlog.org/10409092-muscle-might-review-does-muscle-might-really-work.html]Muscle Might[/url]

james Coley
Premium White Pro
Premium White Pro
Posted 11/10/2009
1. Set Goals short term and long term
2. Talk to business owners in the same line of work to find the biggest pitfalls starting and gettingcustomers.
3. Research and read about marketing your business. Reading some about publicity would be a plus also.
4. Business Plan. You may be able to find a template one to buy online.
5. Check out these two free sites with plenty of resources

[url=http://www.prlog.org/10409092-muscle-might-review-does-muscle-might-really-work.html]Muscle Might[/url]

james Coley
Premium White Pro
Premium White Pro
Posted 11/10/2009
1. Set Goals short term and long term
2. Talk to business owners in the same line of work to find the biggest pitfalls starting and gettingcustomers.
3. Research and read about marketing your business. Reading some about publicity would be a plus also.
4. Business Plan. You may be able to find a template one to buy online.
5. Check out these two free sites with plenty of resources

http://www.prlog.org/10409092-muscle-might-review-does-muscle-might-really-work.html

Tommy Jaye
President, CEO,
The Micropreneur, LLC
Posted 11/11/2009
1. Be patient - take your time; it's a big step.
2. Know your industry - do your homework, have sufficient experience & talk with lots of people.
3. Start small & build your business in stages: idea to first customer to multiple customers to multiple products/services.
4. Don't fall in love with your business; it's not about you - it's about your customer!
5. Be innovative, creative & proactive - incorporate these qualities into your mission statement & business model & then execute them. Be relentless in getting it right.

Tommy Jaye

jacica Alban
Muscle Might
Muscle Might
Posted 11/12/2009
Really a educative and informative post, the post is good in all regards,I am glad to read this post
http://www.goarticles.com/cgi-bin/showa.cgi?C=2167423

John Lafare
President & CEO
Onda Advisors, Inc.
Posted 11/12/2009
Personally, none of those steps really matter until you answer the following question: what makes your product or service special, what is your value added and what distincts benefits will you bring to the market. Until you can articulate the reasons why people who don't know you or your business, and may not be motivated at all to buy anything from you, may actually be brought to consider doing so, you're wasting time. Once I get the answer to that question, then I worry about the 4 or 5 other steps.

Matt Grafton
CEO
Houston Movers
Posted 11/14/2009
1.) Ask to interview potential clients and ask them what problem that would pay to have solved or what opportunities exist for them that are elusive. It is amazing how open people will be when you aren't trying to sell them anything thing. Once you hear a pattern of problems or opportunities coming up, start a business around that.

2.) Understand basic accounting

3.) Make goals and plans to reach your goals

4.) Find a person that has done what you want to do already and talk with them. If they help you, make it a two-way street where you are providing some value to them as well.

5.) Make sure your spouse or significant other is ready for the risk and possible failure you are about to take on, paint the best and worse case scenarios as well as the most likely scenarios and see if they can handle all of them.

Good Luck!

Matt

http://houstonmovers.org

Stephen Perkins
Founder & Creative Director
Stephen Perkins Blog Network
Posted 11/15/2009
1. Know your strengths an weaknesses- build your business according to what youre good at.
2. Do your research on everything- dont become lazy in the research phase. extensive research will put you on top.
3. Build business relations- make partnerships that will last and find some people you can go to for you need guidance
4. Don't go too fast- take youre time or your importnat aspects can be overlooked.
5. Be persistent- dont give up on your business because you get negative feedback on it. keep working hard towards your goals.

Good luck to you and your business,
Stephen N. Perkins
CEO- The Perkins Group

Stephen Perkins
Founder & Creative Director
Stephen Perkins Blog Network
Posted 11/15/2009
1. Know your strengths an weaknesses- build your business according to what youre good at.
2. Do your research on everything- dont become lazy in the research phase. extensive research will put you on top.
3. Build business relations- make partnerships that will last and find some people you can go to for you need guidance
4. Don't go too fast- take youre time or your importnat aspects can be overlooked.
5. Be persistent- dont give up on your business because you get negative feedback on it. keep working hard towards your goals.

Good luck to you and your business,
Stephen N. Perkins
CEO- The Perkins Group

ContestDesigns LLC
Founder
ContestDesigns.com
Posted 11/22/2009
One very important tip if "get an attractive, professionally looking website to attract customers"
Need help getting a great looking website? logo? business card?
go to www.contestdesigns.com

james Coley
Premium White Pro
Premium White Pro
Posted 11/23/2009
I don't know where you heard that, but you are mistaken. Business owners, immigrant or not, do NOT get their first five years tax free unless they lose money all those years, in which case there would not be income to pay taxes on.

http://ezinearticles.com/?Acai-Force-Max-Review---How-Effective-is-This-Health-Supplement-For-Our-Body?&id=2852216

james Coley
Premium White Pro
Premium White Pro
Posted 11/23/2009
I don't know where you heard that, but you are mistaken. Business owners, immigrant or not, do NOT get their first five years tax free unless they lose money all those years, in which case there would not be income to pay taxes on.

http://ezinearticles.com/?Acai-Force-Max-Review---How-Effective-is-This-Health-Supplement-For-Our-Body?&id=2852216
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