As most individuals contemplate the opening of a business they often fail to apply pen to paper so to spell out the actually required steps for their endeavor. When considering stepping into the role of an entrepreneur the ideas that each person captures in their mind seem romantic. As humans, we can appreciate the idea of financial freedom, travel, fancy cars, large homes and calling all the shots in our work environment.
However, when embarking on such a task the legwork in a specific order is what makes our dream a reality. The necessary first steps of a soon to be the business owner are to qualify and specify our desired outcome and what it should look like.
It is imperative for a business owner to first research the requirements of their business for operation and productivity. The questions should include but are not limited to the following
- Product or service.
- Location or space.
- Target audience.
- Capitol and Monthly operational expense.
- Business plane and Structure.
- Financial Forecast.
These are just a few of the basic considerations. As business owners, we must put all DUCKS in a row. We must ensure quality product and service. Moving forward always remember to follow your business strategy and plan to remember everything is subject to change and evolve, just keep track!!!