Creating Momentum for Your New Business Idea

Written by Myrtis Smith

You've got a great business idea. You're excited atrepparttar possibility of being your own boss and taking control of your own destiny. There's only one small problem: you have no idea where to start. The most important thing you can do, is capitalize onrepparttar 117602 excitement you currently have and get some momentum started.

Below are a few simple action steps that will help launch you intorepparttar 117603 realm of "business owner"

1. Research. Hop onrepparttar 117604 internet and type in a keyword for you idea. Read what is available on your topic. Identify gaps inrepparttar 117605 available information; those are gaps you could fill, potential services you could provide.

2. Talk it up. Tell you mother, your best friend,repparttar 117606 neighbor downrepparttar 117607 street. Tell anyone who will listen to you about your idea. This will do 2 things. First it will create some accountability, you've told so many people about this great business you're not in a position to just drop it. Secondly (and more importantly) someone you talk to is bound to know other places or people where you can get information. Maybe they have a cousin in another city who startedrepparttar 117608 same business, or maybe they are aware of a vendor who could get you a great deal on your raw materials. People know people and most people are willing to share their knowledge with you.

3. Create a dummy business plan. This does not have to be your take-to-the-bank-to-get-a-loan business plan. This can just be a rough draft. The point is to create something that will get to you thinking about what you need to do. There are many business plan resources onrepparttar 117609 Internet and most of them ask you some pretty hefty questions. Even if you're not ready to create a serious business plan, this is good way to get you thinking inrepparttar 117610 right direction.

A Micro-Entrepreneur's Most Valuable Resource

Written by Mike Morgan

According torepparttar U.S. Small Business Administration, there are approximately 25 million small business inrepparttar 117601 United States. They account for 47% of all sales, 55% of innovations, and 35% of all federal contracts. Andrepparttar 117602 rate of small business bankruptcies are atrepparttar 117603 lowest point in 19 years!

Taken together,repparttar 117604 SBA's research points toward one big conclusion: starting your small business today, including small home-based "micro-enterprises", is a great idea!

Assuming you are inrepparttar 117605 United States,repparttar 117606 SBA, and its affiliated organizations SCORE (Service Corps of Retired Executives) and SBDCs (Small Business Development Centers), are perhapsrepparttar 117607 most valuable sources of advice and education available torepparttar 117608 micro-entrepreneur.

After you've decided what your ideal small business will be, how do you find out what resources are available for you atrepparttar 117609 SBA?

One ofrepparttar 117610 first steps is to callrepparttar 117611 SBA (1-800-827-5722, 9am-7pm East Coast time) and request publication OPC-2, "Your Business andrepparttar 117612 SBA". This publication is a summary ofrepparttar 117613 large array of services available to you fromrepparttar 117614 SBA.

Next, go to you local library, and askrepparttar 117615 reference librarian for a copy ofrepparttar 117616 SBA's "How to Start a Business in [your state]". It contains allrepparttar 117617 state- specific details, such as licensing requirements, for every state.

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