Starting a new business, whether alone or with a partner, can be an overwhelming, difficult, yet rewarding opportunity. With a little information and encouragement 2019 can be the year to get started.
When launching a business, luckily there are plenty of resources to help make the process a little less intimidating. The PA Business One-Stop Shop helps connect people to local resources such as the PA Small Business Development Center (SBDC) network.
The beginning of a new year brings new opportunities and motivations, making for a perfect time to consider starting or optimizing your business. Amanda Fink at Kutztown University SBDC provides tips and strategies to help aspiring entrepreneurs get started. The following tips will help you learn about important decisions you should make before making the leap.
Identify the value proposition of your business
Ask yourself what will be the purpose of my new business, what will set it apart from a customer’s standpoint. Ask yourself simple questions like what will my business offer? What gives my business an edge? As you answer these questions make sure you have the time and resources to accomplish your business goals. The Kutztown University SCBD offers the PitchThenPlan tool which helps guide you through the process of creating a pitch before you write your official business plan.
Research Research Research
You will need to conduct market research to be successful. Find out who your competition is and what it is they do well. You will need to research your suppliers and even your potential customers. Doing enough research and crafting a solid business plan is a great way to avoid unwanted surprises down the road.
Create a support network
For any business venture its important to build a team of trusted advisers to help provide guidance and feedback. It is vital for a new business. Remember to build relationships with your peers in the industry. Networking is one of the most important steps to becoming successful in your field. Your local chamber of commerce, SCORE chapter and SBDC all provide ample networking opportunities.
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