• Exploring Opportunities

  • Part 1: Exploring Opportunities

    Deciding to start a new business can be a difficult decision. While there are many popular reasons to start a business, such as flexibility, independence, and potential growth, there are also many challenges that come with business ownership. 

    You do not need to be a business expert to pursue entrepreneurship.  By outsourcing some of the technical aspects of partnering with someone with business acumen, you will have no issue with succeeding.  A great idea can take a life of its own and the resulting business will flourish.

    If you like the idea of being your own boss and the perks of owning a business but are struggling with deciding what idea to pursue, consider options like franchising or purchasing an existing business. Learn more about franchising or buying an existing business here.

    • Assess how much capital (money) you have available to invest into the business and how long it will last. More information regarding capital can be found in Part 3.

    For guidance on exploring opportunities and planning for a small business, the Small Business Administration provides online courses, and the Small Business Development Center provides training programs.

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