Starting a local business

Hey there. Are you trying to start your own business offering local services?

Great, the first step you should take is: Analyze your competition! This is super important, a lot of people start their businesses without knowing what they are getting into. By checking your competition you can learn a lot if they are doing good you can just copy them and make it better. Sam Walton did this and look at how he did. He built the Walmart empire, in a book he wrote in his death bed he outline how he became successful and one crutial thing he did was analyze with competition. According to his wife, Sam spent more time on the competitor’s store than on his own.

Another tip I would like to share is HAVE ENOUGH CAPITAL, most businesses fail because of this. They don’t have enough money to operate for a couple of months. As a business owner you have to work a lot, you have to know what your budget is and how much on average you will be spending monthly. Once you get this amount, you must have at least 4 moths of saved income to supply your business during the first months.

After that, the main thing you have to focus on is GETTING CLIENTS or GENERATING SALES.  Owning a business comes with a lot of expenses, and the only source of income will come from sales, so go out there and get clients.

I hope this tips can help you start on the right foot.

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