Tuesday, February 10, 2015

3 Tips to Get Your Startup Going

Are you ready to get your startup business off the ground? Maybe you are starting a marketing business and you will sell your services online. Maybe you want to start a small coffee shop in your home town. Maybe you have a creative idea that you think will revolutionize your specific industry. Before you set your business into motion, there are few things you should know about starting a business. Whether you are starting an online business, a small business, or any other type of startup, here are three things to remember for getting your startup off the ground!

1 - Do Your Homework

If you are an entrepreneur, you already know some of the keys to starting your own business. You might have many great ideas and know all the basics of starting a business. Guidelines and ideas, however, will not completely prepare you for running a business. You have to do your homework!

Is your business idea sound? Will your business be able to sustain itself during the startup process or will you need funding? Have you researched competition in the area? Will your business be able to compete? Doing your homework involves tons of research. You need to have in-depth knowledge about your industry, business model, vertical of focus, and other factors. Learn as much as you can before starting your business!

2 - Be Prepared

Many startups are not prepared, and they end up not making it. You have to prepared for anything. Do you have your legal bases covered? Sometimes people claim that they already created your product. If you are creating a website or offering a service, do you have your terms of service and a privacy policy set up? Once your startup is off the ground, everything needs to run smoothly. You should have your service or product, method of distribution, website, business space, payment structure, and many other factors already in place before you hit that "Go" button.

3 - Be Flexible

Being flexible is a key to your startup's success! Once your small business is off the ground, you might be offered partnerships you will need to consider. You might realize your product or service isn't selling and have to adapt. You could need to expand. Being flexible prepares you for the uncertainties of business.

Do you homework, be prepared, and be flexible - follow these three steps for startup success! 

Gennady Barsky is the CFO of JetSmarter and Real Estate Mogul. Barsky is a lover of all things automobile and has a passion for Social Media.

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