7 Steps to Starting a Small Business

Did you know that most small business startups don't survive past their fifth year?

But don't let that set you back.

Starting a small business and successful operating it are no easy tasks, but there are many techniques to help you improve your overall odds of becoming a success. Most of these techniques are as simple as following a guide of tested methods.

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Running a small business is all about doing exactly what you're supposed to and at the right time. If you simply follow the fundamentals, your chances of being a successful startup are much higher.

Without further delays, here are the 7 steps to starting a small business and putting you on the path to success:

Step 1: Proceed in Order

One of the first steps to starting a small business is following the order of things and being determined about it. Don't take too many excessive risks! In fact, most successful entrepreneurs are like lions in the wild, they move cautiously, minimize the risk of being noticed and carefully select the moments when they are able to make their move.

Step 2: Plan, Plan and Plan Some More

Planing is the key to a successful business. No matter how annoying, time consuming and difficult it may be to create a business plan, it is highly recommended by those who have succeeded.

In your business plan you actually take the time to show that your business model works on paper before you go out and invest your time and money into a product/service that may not. Prove the model before hand with a well developed business plan. Think about the key tasks, study your target market, define your marketing/advertising strategy and figure out the money.

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Author: FARRAH KHAN