www.romwell.com          
RomWell Health Pages RomWell Education Pages RomWell Cookbook RomWell Humor Pages RomWell Entertainment Pages Shopping With Us
SPONSORED LINKS

TRAVEL GUIDE
  Travel Advisory
  Destinations Guide
  Travel Info
  Transportations
  Attractions Info
  Travel Tips
  Sports & Outdoors
  Travel Shop
  Travel Site Map
  RomWell Video Channel
RECOMMENDED BOOKS
  Business & Investing Books
  Books Bestsellers
  Creating Demand
  You Are The Message
  How To Start An Import Business
  Patents & How To Get One
  How To Register Copyright
  The Entrepreneurs Guide
  Biographies & Memoirs
  Romance Top Sellers
  Literature & Fiction
  Mystery & Thrillers
  Science Fiction & Fantasy
Business Guide
CONTROL IS THE BASIS OF EVERY EFFECTIVE MANAGEMENT!
 

Starting A Business From Scratch

This is the route for the most first-time entrepreneurs. It's more challenging than the other options and if the business is successful, the entrepreneur will have a tremendous sense of satisfaction. It's like dream come true. Any business involves some element of risk, however, and starting from scratch can be very risky, but it offers the individual the greatest amount of personal freedom in determining company direction, development and new markets.

Risk tends to be the highest in new business and most new businesses don't make it. Starting a business requires spending time on planing and clearly understanding how it will operate. The owner manager often must be all things to the business. This means long hours, having a clear understanding of all business aspects and a need to follow a predetermined course. Failure to do so often leads to a breakdown in business functions, loss of control of the business's direction and an inability to determine where the company stands in the marketplace. All too often, a person with a little money and an interesting idea tries to start a new business and ends up as an unhappy statistic after a year of operation.

ADVANTAGES

Potential for lower overhead and lower start-up costs.
Gives ability to enter new markets or introduce new products.
Allows greatest personal freedom.
Gives ability to change business practices or directions quickly.

DISADVANTAGES

Involves greatest risk.
Requires a significant personal and business planing.
Clientele must be developed.

RELATED INFO

Buying An Established Businesss
Buying A Franchise
Market Research
Your Product Or Service
Your Customers
Your Competition
Getting A Financial Picture
Business Guide

RECOMMENDED  LITERATURE

A Basic Guide for Buying and Selling a Company - This outstanding guide contains all the essentials with regard to the interaction of people transacting for small businesses and how to maximize your chances to obtain fair deals. Explains how to effectively use a business broker, methods of payment available to the buyer, deal with an attorney, how the seller prices the company, and much more.

How to Buy and/or Sell a Small Business for Maximum Profit: A Step-by-Step Guide - This book provides a road map of suggestions, insights and techniques for both buyers and sellers. It covers the entire selling process step-by-step—from making the decision of when to sell or buy, through determining how to market the company, to understanding the various legal & financial documents involved in a sale, and on to closing the deal and handling the transition afterwards. This book is geared toward the novice entrepreneur who wants to buy or sell a small business. Topics covered include: finding and evaluating a business to buy and/or sell, how to value a business, raising the necessary capital, evaluating a business financial condition using discounted cash flow, excess earnings, asset value, and income capitalization, brokers, leveraged buyouts, letters of intent, legal and tax concerns and contracts.

 
  Home : Info Pages : Privacy : Site Map
: Contact Us
: References