| Starting a small business involves many types of | | | | sources, financial projection etc. You can make it |
| decisions, steps and processes. The beginning is a big | | | | yourself or you can delegate it to experts. |
| matter for the entrepreneur. You have to perform | | | | You have to arrange for the finance for your small |
| different activities to find out what you will be doing, | | | | business in this stage. Finance source may be different |
| when you will do it, and how you will do it. | | | | for you. You have to complete the entire certificate |
| You have to find answer to many questions. You will | | | | and license related works. You will need to find out the |
| have different operations to perform like selecting the | | | | location and start the structure for future processing. |
| business, the industry, ownership form, finance, | | | | Post startup stage: |
| business plan, tax related issues, business process, site | | | | This is the implementation of the idea and plans. The |
| selection, licenses, registration and so on. The list is | | | | entire plan that you have for your small business is to |
| very big.ou have to not only perform these; but have | | | | be done practically. |
| to perform them fine. You have to prioritize the | | | | You have to mage the business in this stage. Already |
| activities and perform them accordingly. For an | | | | you have started the small business. Now you have to |
| inexperienced entrepreneur, the tasks become more | | | | manage it daily. You have to mange the customer |
| needed. | | | | related issues, employee related issues, inventory and |
| Starting a small business may be divided into two | | | | supply chain related issues, and production related |
| stages: one is pre-startup stage, and the other is post | | | | issues. |
| startup stage. | | | | Starting a small business can happen in three ways. |
| Pre-startup Stage: | | | | You can start a new business, you can acquire |
| This stage is actually a planning stage. You have to | | | | already existing business, or you can start a franchisee |
| plan your activities and act accordingly. This stage is | | | | of a reputed organization. |
| very crucial as you plan out your whole business here | | | | Starting a New Business: |
| only. | | | | You will start a new enterprise from scratch. This is a |
| In this stage you will decide about the idea of business. | | | | long term process and is really tough. You have to |
| The idea development will take sometime. Idea | | | | start and build all the systems in a business. |
| generation depends on many factors like your | | | | Acquiring a existing business: |
| exposure, background, family, education, psychological | | | | If you want to acquire an already existing business, |
| state, prior experience, cultural background etc. | | | | then it is a little easier for you than starting a new |
| Business ideas will vary from person to person. Your | | | | business. Here you get some of the systems of the |
| previous experiences will decide what you will do. | | | | business pre built. This will help you to start the |
| After you decide the idea, you will have to prepare a | | | | business fast. You can select a business that you |
| business plan. A business plan contains everything | | | | want to start. You can design it accordingly after you |
| about the business idea like idea, market, process of | | | | take it over. You will get customers existing already. |
| producing or developing it, finance needed and finance | | | | |