Build your own business

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Build Your Own Business
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Business plan

• All great empire were built on a single thought,
  so think of your big idea.
• It is essential that the idea is viable therefore
  work out the pros and cons of making your idea a
  business.
• Once confirmed, work out a strategic business
  plan for your idea to make it into a reality.
• The strategic business plan must include the
  following summary, market analysis,
  organization and management, funding and
  appendix.

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Location

• A location that provides a good amount of
  exposure is usually ideal.
• A start up business will require a location
  considering the brand image you are trying to
  portray and the competition in the vicinity.
• A strategic management plan will require to
  outline if you need employees, so consider if the
  location is travel friendly.
• Also consider the proximity to suppliers as
  products are the lifeline of a business.
• Pick a considerably safe location.

4

• Finance
• One of the most important parts of the strategic
  business plan is finance, how do you plan on
  paying for it all?
• The most common method is to take out a loan or
  a grant.
• Banks offer general small business loans which
  you can use to start up and pay back as your
  business is stable.
• If you don't wish to go down that route, perhaps
  you have inherited some money? Or you have some
  generous family?
• People who do not wish to take out a loan
  generally use prior investments or sell
  properties in order to have enough money to fund
  your business idea.

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• Structure And Register
• This includes determining the type of ownership
  you wish to use and structuring your income tax
  obligations.
• Find the right tax form and pay your state income
  taxes for strategic management.
• Now, all you have to do is decide what you plan
  on naming your business and registering it.
• Remember that your business name is on all your
  forms and legal documents, so think wisely before
  you choose.
• Now go straight to your state government office
  and get your business live!

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Happy Bussinessing!