QUESTION: I’m a university graduate who was displaced when the small firm I labored for merged with a bigger firm. I’m both over certified or the accessible jobs provide a fraction of my former wage. Any options?

ANSWER: In case you are one of many hundreds of U.S. staff who’ve been affected by layoffs or downsizing of current years, this can be an excellent time to think about beginning that small enterprise you have got at all times dreamed about.

The primary steps for making a profitable enterprise are planning, analysis and extra planning. Operating a enterprise is completely different from working for one.

Ask your self, “Can I be my very own boss?” Attempt to objectively assess the professionals and cons. Each accountability — gross sales, advertising and marketing, bookkeeping, taxes, insurance coverage, finding workplace area, shopping for paper clips — falls in your shoulders. That’s along with truly doing the work itself.

To start, assemble a written marketing strategy. This a dwelling doc that lets you conceptualize your dream, chart your plan of action, and set brief and intermediate phrases targets, all with out spending a dime.

SCORE provides a wonderful marketing strategy define that may be accessed at

You have to a transparent thought of how a lot cash it’s good to get began and the way a lot it is possible for you to to make, after bills. The marketing strategy consists of money stream and gross sales projections, in addition to a projected revenue and loss assertion in your first yr of operation.

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