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Business start-up information:
• Types of business organizations
• The top ten entrepreneurial traps/mistakes
• Take these steps before you start your business
• Business regulations
Helpful Websites:
• CT: Chapters and Chambers of Commerce
• CT Economic Development Commissions (download word document)
Business plans:
• Case study
• Business plans outline (download word document)
• Business plans workbook (download word document)
• Business plan checklist (download word document)
• Risk management
• Excel Spreadsheets for starting your Business Plan
Take these steps before you start your business:
It can take months, or even years, to plan a business start-up. There are many steps, but here are eleven important considerations you should have under control before starting.
• Have a passion for your business idea.
• Do a personal and financial assessment to gain an understanding of your risk tolerance, financial means and support for going into business. Develop a written set of personal and family goals.
• Understand the technical and operational aspects of delivering your product or service. If you haven't worked in the type of business you are planning, get a job in it first, if possible.
• Acquire or hire the business management skills you will need.
• Go to small business seminars, talk to business owners, and get information from trade associations, books and magazines.
• Target a specific market. Try to meet customer needs in ways that are unique, valued by the target market, and that will differentiate you from the competition.
• Don't rush. Develop a thoughtful business plan. Interview a few certified public accountants and attorneys for your legal help and financial planning.
• Don't rush decisions on locations.
• Ask other business people or qualified business counselors to review your plan. Talk to more than one banker.
• Focus your efforts. Deliver a limited number of products or services for specific target markets rather than trying to be all things to all people.
• Be sure your business systems are in place, and prove that your concept is profitable, before considering expansion.