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How to avoid the mistakes of the others by validating them. The beginning of every business idea is usually marked with super-excitement. You are convinced that your idea is the next big thing. And maybe it is, if you follow the next 6 steps and know how to validate your ideas. [...]
You can't neglect your startup's financial health in the crucial early stages. In the beginning stages of managing your startup, the nitty-gritty of finances might be the last thing you want to think about, but letting financial planning fall by the wayside is a troubling habit for new business owners. The [...]
Choosing the right legal structure is a necessary part of running a business. Whether you’re just starting out, or your business is growing, it’s important to understand the options. Partnerships carry a dual status as a sole proprietorship or limited liability partnership, depending on the entity's funding and liability structure. [...]
A Federal Employer Identification Number is needed for certain businesses. Before you can open a bank account, apply for a business license or file a tax return, you will be required to obtain a Federal Employer Identification Number (FEIN) for your business. Read on to learn what a FEIN is [...]
This guide will help you get started assessing your business insurance needs and finding a provider who can get you the coverage you require at a price you can afford. When you first started your business, you were probably most preoccupied with cash flow, staffing and growth, but at a [...]
Take advantage of referrals to improve your hiring strategy. One of the best recruitment strategies is asking current employees to give referrals. Hiring workers on a trial basis allows you to test out potential future employees. Each company's recruitment process is different, and finding the best recruitment strategy for your [...]
In the early days of your small business, you might find it easier and more cost effective to do everything yourself. As you grow, you'll likely need the help of a business-to-business (B2B) vendor or partner to accomplish tasks like accounting, shipping, manufacturing and marketing. But you can't just make [...]
Marketing is a key component in the success of every small business. Find out how to create a plan that works for you. Smart small business owners know the importance of a business plan, which outlines your company's course for success. One critical portion of that plan is your marketing [...]
1. ATM Space Rental: A commercial space always yields good profits. Renting your space to Bank ATM will yield fix monthly profits. 2. Car/Bus Rental: Car rental business has grown since Ola & Uber came into existence. Buses are in huge demand for family functions, weddings, etc. Start a Car/Bus [...]
1. Honey making: Honey Manufacturing business is another form of small Business. Honey processing can be performed in two different process manual or automatic. Starting your honey manufacturing business is easy and convenient for people planning for small scale business. 2. Manufacturing toys: Toy Manufacturing business is a top booming [...]
1. Grocery Store: Grocery stores sell food and other household items. Often called supermarkets, grocery stores are go-to sources for a home’s food needs. grocery shopping is an integral part of human life, and any such business that appeals to life sustenance is sure to become profitable if it is [...]
1. Textile Unit: The textile industry is currently contributing 2% to India’s GDP and 15% to the export earnings of the country. Opening a textile unit firm means to supply different types of fabrics for the fashion and apparel industry. The shop should be in an area where there is [...]
