3 answers

How do I create and maintain a small business?

Asked Denver, Colorado

I want to start a small business someday, and whenever I look for resources to help me learn, I can only find these vague things about being unique, passionate, or whatever else. I really just want to know what the workload is. What kind of actual labor will I be doing? Is it a lot of paperwork? How do I hire people? #business #entrepreneur

3 answers

Sayed’s Answer

Updated New York, New York

First pick an idea that you are really familiar and passionate about which can help you grow it (Ask yourself who will be your customer and pick a location). Second, how much can you invest? Making sure you have at least 6 months of disposable income in your savings. Third, research on what do you need to do to prepare filing with the local city government (licensing etc.). Next, pick if you want to be a Sole Proprietor or create an LLC (limited liability company) or Corporation. Corporation and LLC will have less liability on you personally in case the business doesn't do well.

Sayed recommends the following next steps:

  • How much can you invest?

Latasha’s Answer

Updated Euless, Texas

The first step would be to find something you are passionate about, that would determine what type of labor you would be doing. Working for yourself will require a lot of hard work.. you will be responsible for the majority of the work until your business can support hiring employees. The amount of paper work depends on the type of business you open some will require more than other.

Veronica’s Answer

Updated

It is easy to start a business but it is hard to grow one. Is your business brick and mortar and e-eCommerce? You might want to do an assessment of yourself first.

Veronica recommends the following next steps:

  • Decide what your business is about.
  • Check if you need a business license and/or vendor's permit.