One of the most important steps when setting up a business is formulating an effective business plan. A well made business plan serves as a roadmap to your business. It gives you the lay of the land, specifies each step that needs to be taken and gives you an overview of each step in the process of setting up a business, operating it and even improvements you can do in the … [Read more...] about How to Make an Effective Business Plan
entrepreneurs
3 Types of Business Structures
You've found a great business idea and, after studying the market and your competition, you've developed what you know will be a popular and profitable product or service. The next and very important step is to create your 'legal personality.' This is your business structure and how you will register it at the proper government agency—the company equivalent of a 'birth … [Read more...] about 3 Types of Business Structures
4 Questions to Ask Before Turning a Hobby into a Business
You love baking and your friends say you make the best cupcakes in the world. 'You should sell this!' they say—and your mind starts whirring. Maybe you can turn your hobby into a business. Maybe you can make loads of money doing something that you love. But this is a major decision. A hobby is fun; a business, however, is inherently risky and will take hours of your time. … [Read more...] about 4 Questions to Ask Before Turning a Hobby into a Business
5 Questions to Ask Before Starting a Business
] You have an amazing business idea, and have the capital to get it up and running. But here's the deal: a good idea is not automatically a profitable idea. Most entrepreneurs learn that the hard way, wasting thousands of dollars and hours on something that looked far better on paper. What went wrong? They didn't think out the details: how much work it required, and how … [Read more...] about 5 Questions to Ask Before Starting a Business
5 Steps for Starting a Childcare Business
Are you a stay-at-home mom looking for a way to earn extra money? Why not build a business around something you know better than anyone else—child care. For years, you've entertained, fed, taught, and taken care of your own kids. You've made your home a safe and loving place, and have probably read up extensively on positive discipline, child development, and educational … [Read more...] about 5 Steps for Starting a Childcare Business