| When I counsel people that are looking to start a new | | | | know what to avoid and what worked out splendidly. |
| business, I find that very few take the time to research | | | | Free education from former owners can be had at |
| the industry as well as they should. Below are the five | | | | SCORE as well. |
| most important things to consider when you are | | | | Trade Associations - Almost every industry has at |
| starting a new business. | | | | least one trade association and many have more than |
| Market Trends - Probably the most important item to | | | | one. Call up the associations and ask what they offer, |
| consider when you are opening a new business. If you | | | | how often do they meet and how much the |
| get in on an opportunity that has waning interest, odds | | | | membership costs on an annual basis. Trade |
| are that it will continue in that path and you will end up | | | | associations are great to network with others in the |
| losing money. On the other hand, if you find a business | | | | same field and bounce ideas back and forth and they |
| idea that is in an up and coming industry, you may well | | | | almost always offer advice on how to stay compliant |
| get an outstanding bang for your start up dollar. | | | | with state and federal laws. |
| Industry Offshoots - You may want to start a janitorial | | | | Vendors - Your vendors want to see you successful |
| service and you get all set up, start calling on | | | | and will offer a lot of insight into how to use their |
| businesses and get some decent contracts. That is a | | | | products and services as well as give you tons of tips |
| great foundation but you do not want to leave money | | | | on how to generate new business and what to avoid. |
| on the table if at all possible. Some off shoots would | | | | They are part of the "I wash your back, you wash my |
| be to offer window washing; floor stripping and | | | | back" crowd. They know if they help you in your |
| waxing... even power washing. Take advantage of | | | | business that you will probably buy their products and |
| offering bundled packaging to your clients if at all | | | | services even if they are more expensive that their |
| possible. | | | | competition. |
| Who tried this business and failed? The cheapest form | | | | So when you are getting ready to take the plunge be |
| of education is to find out the mistakes that others | | | | sure to take the above into consideration so you are |
| made so you can save those headaches. Talk to | | | | as successful as you possibly can be. |
| other business owners and they will most likely let you | | | | |