How Do I start a small business?

Question

I am trying to start a small business in the city of cleveland. It will have several different services such as real estate, daycare, and sells. I have just obtained a EIN number, but I have no Idea what the next step is. As of right I am starting my business by selling items on ebay under my business name in order to try to get some money. I would also like to know if there is a way to get start up money to help me out.

Answer 1

It sounds like the first step is to genuinely figure out what you plan to do.

The Why?

The goal of a business can be so many different things and knowing why you are going into business is key. Is it the money? The ability to control your time or your activities? A particular activity you love? A way to help people? There are so many reasons. The more clearly you define that reason, the better equipped you will be to make a call on which business type and model to choose. Start by making a list of the things you want to have, do and become with your life.

The What?

Based on your note, it sounds like you are still figuring that out. Which is just fine. I am on my 3rd company. It just took trying a few things to iron it out. My best suggestion is to figure out the list above, and then interview business owners until you meet one who has accomplished a large part of your list with their business vehicle. Then you can begin to look how to apply it. In my case, I love surfing and prefer to keep my own schedule. So I began to look for a business where I could work my own hours.

The How?

Frankly - with regards to getting financing. First, if you can avoid it, don't get financing. If you absolutly need it, then you will need a good business plan. Without it, no one will talk to you. A good initial test: if a friend asked you for a big loan and presented the idea you have been working on - would you hand her the money? The first step would be to go to your local SBDC (small business development center - an amazing free service) and work on the business plan with them. They will then step you through the process of trying to get loans.

All in all my friend- good luck

Answer 2

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