Have fun!

Starting a business is a great way to follow your dreams, earn extra income, and do what you love. You just need to make sure you are prepared for the long haul and find ways to keep yourself motivated. Here are some tips to get you started:

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1. Find your niche 2. Know your competition 3. Create a business plan 4. Get funding 5. Market your product or service 6. Set up legal documents (DBA) 7. File for tax-exempt status 8. Hire employees 9. Keep learning 10. Enjoy success

1 – Find your niche

2 – Know your competition

3 – Create a business plan

4 – Get funding

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5 – Market your product or service It can be tempting to start a business that you think will be successful with little research. However, this usually leads to disappointment as many businesses fail within their first year of existence because they have not done their homework. Take time in researching your idea before jumping headfirst into starting your own company. If it is possible, try out the concept on a small scale before taking on the risk of investing large sums of money in something that may not work out.

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6 – Set up legal documents (DBA) If you’ve ever watched Shark Tank, then you know that every investor wants to know your background and where you came from. They want to know if they’re working with an expert who has been doing this type of thing for years or someone who is new at it all. With a DBA, your business becomes more legitimate and easier to prove that you are qualified to run it.

8 – Hire employees There’s no question about it–starting a business takes lots of hard work! You might be tempted to take on every task by yourself but overworking yourself can lead to stress, burnout, and even physical injury. Instead, hire people who are experts at what they do so you can focus on tasks that only you can do well.