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Different Levels Of Funding – Seed Funds And Growth Funds

Starting and running a business successfully is not an easy task for sure. Finding the right idea for a start-up business would get you going and excited about the whole work and concept and the profits that lie ahead. No matter if you are looking for a home business idea as a start-up, part time venture or an online business start-up idea, you simply need to realize what your heart wants, because if you are not into in whole heartedly, then you will always find your self struggling with the venture and to keep it going, thus it is always better to do and start up a business or go ahead with the idea for a start-up business which you might actually enjoy doing.

The foremost step you should take is to take a little time out and analyze as to what you really enjoy doing in life. Make a list about your hobbies and interests. The ideas for a business start-up or any ideas in general that strike your head at the beginning are the ones that most likely stress on the areas that you love and are good at. Business ideas for start-ups need not necessarily focus on the areas where you want both enjoyment and success. Enjoying what you do is far more important, because success comes naturally if you really enjoy doing your work. The success of the business depends on various factors, but the important thing when you are getting started with your business idea is that you enjoy your business.

But the fact is you absolutely can’t start a business based on an idea or something you enjoy but are doing. For e.g. you might love food, but if you think clearly, do you think you can handle the whole food business on your own? Or you can start-up a restaurant just because you love food? Probably not, start-up business ideas need a small chance to succeed.

Successful ideas for a start-up business are normally based on something you enjoy doing, as passion is important, no matter what you do in life, but on the other hand, the fact that just by liking what you do in business does not guarantee its success, is also very true. You need to narrow down you ideas for a start-up business to a set of concepts based on what you like doing, so once you have a list of say 5-10 ideas for a business start-up, your next step is to carry out a sufficient market research and business planning.

Without doing a proper market research, you can never know if your start-up business idea would have the customer demand to maintain its operations. It would be correspondent to gambling and also with out the right planning, you can never know whether or not your business is getting the right direction or if you have enough funds to reach there. The whole process of constricting the list of your business ideas for your start-up might take some time and some important yet tough decisions. However, without a narrowed down list of start-up business ideas, the strategy and planning will be deluging.

Once you’ve contracted your list of ideas for a small business, so say about 2 or 3, you need to start thinking seriously and making analysis. This is the step when the planning begins and it would help you to understand the fact as to how feasible would your idea for the start-up business be. You need to ask questions to your self and carry out an analysis and thus arrive with your most effective answers. You can ask your self questions like:

  • What is the cost that you need to bear to get the business started and whether you have the money with you or whether you need to take a loan?
  • What would be the time period until you reach the break even point and whether you have enough money at hand to keep the business running?
  • How would you cover for your family’s (if you have any) living expenses during the start-up phase of your business?
  • What all licenses and certifications etc. do you need for the business and how would it take for you to get them?
  • Who are your actual customers and whether there is a market for the business you are going to start?
  • If your business is product based, then how much inventory would you need at hand?
  • Do you need to really hire employees or keep a temporary staff and how much help would you really need?
  • Does the business that you are about to start fit your lifestyle, goals and personal ambitions?

After you have answered all the above questions for each of the business ideas for your start-up that you had narrowed down upon, you should be able to take a pick, the business idea for your start-up which makes the most sense to you, from all the perspectives. The next steps for how to implement your business idea for the start-up are somewhat pedantic.

  • You need to prepare an ideal and clear business and marketing plan
  • You need to get or attain the funding for your start-up business idea, if any is required.
  • You need to build your business entity and register with your state and other federal agencies
  • Open a checking account for your business and credit card
  • Get the requisite licenses, insurance, certifications etc.
  • Obtain a physical space for your business, if required
  • Buy inventories, if needed
  • Begin to advertise and publicize about your business
  • Start the business
  • Analyze and manage your books; pay attention to your cash flow
  • Revise your business and marketing plan, if necessary

The two most difficult things in our mind, when still learning about the process of starting up a small business is – finding the start-up business ideas that you are really passionate about and applying your knowledge and hard work into the whole process to try and make your start-up business idea a success. If you have the whole thing in place and if you have efficiently prepared your business and marketing plan and know the in’s and out of your industry thoroughly, then you can definitely hope for a positive and a bright future for your self as well as your business.