Recap: Starting a small business

Your coaches summarize the key points you’ve learned.

LuisWe hope we’ve given you some valuable insights on the possible risks and rewards of starting a business of your own. Now it’s time to review the key points we’ve covered.

AliciaFirst: the business owner’s experience and expertise is usually critical to success. Draw on your own job experience or do plenty of research to fully understand your new business and what it takes to make it profitable.

LuisSecond: create a business plan. It’s your roadmap to a successful future.

 

AliciaThird: determine how much money you’ll need to get started. Be realistic. Consider whether you want to get a loan or take on partners.

LuisAnd last but not least: when it’s time to get down to business, take an organized approach. Make sure you’ve addressed all the items on your checklist — from legal and finance, to management, marketing and technology.

AliciaIf you decide that starting a business is right for you, we wish you every success! See the topics Managing a Business and Growing a Business to learn more.

Key points to remember:

  • Experience and expertise is critical
  • Create a business plan
  • Obtain financing
  • Follow a checklist

 
You have completed Starting a Business.
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