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Show j Sun Advocate Business Review - October 26, 1999 Page 10 Section B When it comes to Business Be Ready to Break the Rules! Rules are everywhere... at school, on the highway, in airports, in hospitals. The busi- ness world has rules, too. When you consider starting your own business, there are many rules to remember and. to break). Listen to the Experts. 2. Have a business plan. 3. 1. Be adequately capitalized. 4. Start a business in an industry you know. 5. Dont launch a business in a crowded marketplace. 1. Listen to the Experts. Do you ever wonder how they became experts? Trial and error. Lots of error. Ask any business person that you consider to be an expert and theyll tell you how many things theyve tried to become successful and how many times they failed. If you truly believe in your product or service, gather all the advice you can. You dont have to use it, but its great information to store away for future refer Stay warm with Fabric Frenzy this winter. Many quality flannels, fleeces, 5 broadcloths to sew, tie, or quilt. Check us out! ence. 2. Have a business plan. Im a strong believer in planning. However, sometimes our ideas get so bogged down with strategic planning that we dont let our creative thoughts take shape. Its always a good idea to have a plan, but be prepared to re- great asset when entering into business ownership. But what if you dont have adequate funding? Can you be creative enough to find it? There are investors everywhere, and youll find them number of investors with smaller investments. Include them in profit sharing until the initial investment can be repaid. Again, be creative.. .the profit sharing could be in the form of prodin the most unsuspecting uct or services instead of cash. places. Think outside the box You would be surprised at and find the funds necessary what little funding started write it as you journey through to finance your ideas. If you major corporations. Mrs. business, but plan to succeed. plan on seeking out investors Fields empire was started 3. Be adequately capi- or additional capital, theyll from her home kitchen. Bill want to see a business plan, Gates was a struggling entretalized. A strong bank account is a be prepared! Consider a large preneur in his garage. 4. Start a business in an industry you know. Do you have to know everything about an industry to be successful in it? It helps! What about a desire to learn, passion for the industry, or just dumb luck! If you truly are committed to your idea, run with it! Devour industry trade magazines and how-t- o books on marketing for your industry. Call in contacts you know, network, research... learn by doing! When you dont know anything about a business, nothing stops you from trying, you wont place limitations on yourself. WE REALLY, REALLY, REALLY WANT TO WORK FOR YOU. Call SOS Staffing Services Today 5. Dont launch a busi ness in a crowded marketplace. If there are 15 widget STAFFING SERVICES . We Want to Work For Yous 706 West Price River Drive 637-721- stores in town are you going to open another one? Do your homework, how well are the 15 widget stores doing? Could you do better? Will your widget outsell the competitions? Dont let a crowded marketplace" hinder your entrepre-neurespirit. Even though there may be similar businesses, find your niche. Develop strategies to outsell or outservice your competitors, find your strengths and your competitions weaknesses. al 0 When considering entrepreneurship, be ready and flexible enough to break rules. Dont let structure and rules keep you from realizing your dream of being a business owner. Gather your ideas, bounce them off a few experts, round up a bunch of investors, bend the rules a little and start realizing your business dreams! Submitted by: Karon S. Mills Executive Director Carbon County Chamber of v |