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