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what you need to start a small business?

How long can it take you to grow a small business that you have just started?

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PRASANJIT’s Answer

Please follow the below steps to start small business:

Start with a Good Business Idea. If you're wondering how to start a business, it may be easier than you think.
Conduct Research and market survey about your Business Idea.
Write a Business Plan.
Make Your New Business Official.
Know Your Finances.
Protect Your Business.
Build Your Business.
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Junnie’s Answer

Dear Solanch,
what you need to start a small business?
How long can it take you to grow a small business that you have just started?

You have two separate questions above.
Starting your own business need hard work, perseverance and capital.

In order to grow a small business, really depending on the industry/ or your business, as well as how hard you work and finding the right path, doing all the right promotional to grow the business.

It is also important to define "GROW". Are you looking for certain profit margin? How do you define a successful business?
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Rebecca’s Answer

Thank you for your question. I am glad to hear that you would like to be entrepreneur.
I assume you have already started the business and you would like to know how to grow the business.
Below are my suggestions :
1. You may need to define business development for 3-5 years. And, you can break it down into small milestones that can achieve in short term.
2. Put down the steps how to achieve these milestones.
3. Review the progress from time to time and make adjustment if necessary
4. You may also need to attend relevant seminars to keep yourself up to date on market knowledge and establish your people network in the industry
5. Adapt your plan to meet the latest trend of industry development
Hope this helps! Good Luck!
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Marcelius Levites’s Answer

Well, Solanch first you're going to need a plan/business strategies

1) What kind of business
2) Who are going to be your targeted audiences
3) Social Media (putting your business and advertising it on different platforms)

The question is not how long will it take. The question is how much sacrifice and effort are you willing to make.
You don't build a house overnight but every day you do something to get it successfully done.

Marcelius Levites recommends the following next steps:

Advertising
Being part of certain business group chats
Forming bounds with other business and supporting their business
Always have plan AB,C,D,E & F
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Katherine’s Answer

Many businesses go out of business within 5 years. If you would like to have a business that lasts for a particular amount of time, then you'll want to plan how long you want it to last, and make your decisions based on the assumption that your business will last that long.

Read the book Entreleadership by Dave Ramsey. And check out this workbook that might be helpful: https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf
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