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How to Open a Small Business A Six Step Process


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Do you know how to open a small business? I'm going to give you a six step process that will show you how to open a small business whether it is a six figure franchise or a home based operation that you start with a couple hundred dollars.

Step 1: Determine your market. Most people would say to figure out what you're going to sell first. But I think that's backwards. First you have to determine who your customers are.

Let's choose the growing 60-70 year old market.

Step 2: Determine what your market wants. At this stage in how to open a small business, you can look at your market's buying habits. What goods and services are they purchasing? What would they like that is not already available?

The Boomers are not like any other generation in American History. At every stage, in their lives, they have redefined what that demographic wanted. As they age, it will be no different. Boomers in their sixty's will not go quietly into old age. They want to be healthy and active. Okay, now we've determined what our market wants.

Step 3: Determine how you want to serve the market. Your market wants a lot of things and it can be served up a number of ways. Your job is to serve it up in the way that makes the most sense for you and them.

Okay, we know that boomers want to be healthy. And, through our market research, we have found that they want supplements. Now we have to decide whether we're going to open a GNC franchise, start a supplement mail order business, become a MLM distributer of supplements, etc. Let's say we don't have the money for a franchise and mail order is too expensive. But, we can set up a website that affiliates with a mail order company and drive traffic to it.

Step 4: Prepare the Business. This is the stage where you make the contacts with the companies that you're going to work with and get the training, marketing, and business structure in place.

Now, we have to fill out the affiliate applications, build a website, and learn how to get people to visit our website.

Step 5: Operate the Business. It's time to launch the business and work on it. You should have a good understanding of how to open a small business by this point.

Step 6: Evaluate and Grow the Business. Once you're successful, you want to see what you can do better to make it grow.

Those are the six steps for how to open a small business.

If you would like to start a low cost business from home, go to the Starting a Business website where you will find resources on starting many different businesses. It's located at - Starting a can show you how to open a small business.


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