Doing Business in Utah
Where to begin?
Before starting a small business venture, first, ask yourself a few key questions:
- Are you ready to start and learn how to run a small business?
- Do you understand the commitment and challenges involved in starting a small business?
- Have you researched the competition?
Answering these essential questions first helps your small business get started in the right direction and gives you advantages in today’s competitive marketplace. Additionally, it’s helpful to:
- Gain focus. Asking upfront questions such as what products or services will my business offer, what makes this product or service unique, and what’s the need the business will meet are important questions to consider.
- Organize your startup team. Identifying your company leadership and identifying key positions such as accountant, attorney, and investors, to name a few, are essential to ensuring a successful start to your business.
- Assess your skill set. Considering things like being familiar with basic accounting, financial management, people management, marketing, sales, and operations management are essential.
- Develop short term and long term goals and set limits.