One of the greatest challenges for most new businesses is securing capital; in fact, four out of five businesses fail in the first five years due primarily to a lack of capital. For this reason, it is crucial for you to create adequate start-up and reserve capital prior to starting your business. Now – as stated, one of the most critical steps prior to...

At this point, you know that identifying and outlining your business’ mission is crucial, but it is equally important for you to also take some time to determine exactly what product, service, or combination of the two you are offering to your customers, along with some of their key selling features. To aid you in this process, consider asking yourself and...

It’s important – when starting a new business endeavor – that you go into it with a realistic perspective on the amount of capital that will be needed for your business’ start-up costs. So – in order to help you with this task, we have created a Business Start-Up Cash Requirements Worksheet. From this, you will be able to create a list...

Creating a mission statement has the power to bring direction, clarity, and focus to your business, which will – in turn – bring about a unifying force throughout all of your business activities. For this reason, constructing your business’ mission statement is one of the most crucial components to starting your own small business. To get started on...

If you’re considering devoting your full-time efforts toward running your own small business, it’s important to take some time to determine how much money you may need to have on hand in order to meet your personal financial obligations – for a time – in order for your small business to build sufficient cash flow. To help you in determining what...