Starting a Business

Powerful Essays
Introduction

More and more people are beginning to open their minds to new business ventures. It seems like it is becoming the popular move. By opening a business there could be huge profit to be made, depending on the market. On the other hand, there are risks and losses that may occur as well. It is said that there are two reasons why people start a business. The first reason is because they have inspiration for what they believe would be a great idea and the second is from desperation. People have a need to make money and there are no jobs out there, which they found, that suites them or their needs. There are various different ways to start a business. Not all entrepreneurs begin their business by the thought of an idea. There are many other ways to go about starting a business. Buying a franchise, buying an existing company, the inventions of a product are all other ways to begin a business. People often start a business in a field that they know well. Although this is true, it is essential not to limit the perspectives of the kind of business to open. The areas outside of your interests may just be the right opportunity for you, which is why it is important to explore other areas. This paper will talk about the general ways in which to start a new business and how to go about doing it. Included will be how to get ideas to open a business, planning out the business structure, ways to get money to start the business, getting prepared, hiring the staff, and getting the word out to the public.

Getting Ideas to Open a Business

The business idea plays a critical role in the overall success of the business venture chosen.

"It is part of the early pre-venture stage of business development that often goes unnoticed by those who are interested in getting into a business and by those involved in business development counselling/training"(Canada 1). "There are many considerations that must be thought of before determine the success



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