You’ve always wanted to own your own business. For Tatum Sherman, her dream became a reality when she started Resource Referral, a successful staffing agency in New Jersey. Regardless of the kind of business you want to start, the key to success is to always be flexible. Here are the steps you need to complete in order to get your own business up and running.
- Begin by taking stock of yourself and the situation you are in. You need to plan, set goals, and know yourself.
- Evaluate your idea and analyze the industry. This includes evaluating the market in order to identify how attractive the market really is.
- Figure out what type of business form you want to establish. During this step, you also want to make sure you get any permits or licenses that you may need.
- Start writing your business plan. Your business plan is a necessity if you want to find financing for your business. It also acts as the roadmap for your future business.
- You’ll need to secure financing depending on the size of your business. Most small businesses start with private financing through credit cards, help from their family, and personal loans.
Once you have completed these steps, it’s time to set up shop. The great thing about owning your own business, like Tatum Sherman, is that you get to decide on your own path and what direction you want to grow.