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10 Steps Before Starting a Small or Home Business

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Step 1: Decide What Products or Services Your Small Business will Offer
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The first of the steps to starting a small business is to carefully consider these questions:
  • What do you have to offer?
  • What makes you an expert?
  • Do you have all of the education and skills you'll need to compete successfully in the marketplace or will you need to do some brushing up or retraining first?
  • Does the product or service meet a need?
  • Is this a seasonal product or service, or can you market it all year long?
  • How sensitive is marketing this product or service to general economic conditions? When the economy is weak, how do you think your business will be affected?
  • Will you be energized by going through the steps to starting this particular small business - is it something you'll love to do or sell - or are you just going through the motions of starting a small business to try to make some money?

The saying, "Do what you love, love what you do" should not be taken lightly. Your business is going to be your livelihood - you should have a good time doing it. If not, it will be difficult to get motivated at times.

If you are excited about your business, your customers will notice and it will be easier to get them excited, too. Plus, completing the steps to starting your small business will be fun and much more enjoyable.

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