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Starting a Business

Question:

If I'm thinking of starting a business, what should I do first?


Answer :

Before you quit your job or print business cards, it is wise to take stock of personal considerations. Ask yourself:

  • Do I have what it takes to be an entrepreneur?
  • Am I a risk-taker?
  • Do I have a grasp of basic financial and marketing principles?
  • Am I resourceful and organized?
  • Can I support myself and/or my family financially during the early stages of the venture when cash may be short?
  • Will my family and friends be supportive during the start-up process?
  • Am I knowledgeable and experienced enough in my chosen field?

If the answer to any of these questions is "no," you may want to focus on some form of self-improvement before proceeding. If most of your answers are 'yes,' then it is time to become a realist! Get as much information as you can on the feasibility of your idea and on the real experience of starting and managing any business. You can do this by:

  • accessing business publications and data from the library,
  • taking seminars and workshops,
  • speaking to trade or professional groups which represent your chosen industry,
  • consulting with people who are already in the same or similar line of business,
  • and seeking advice from professional business consultants at the District of Columbia SBDC.

Also, take the time to review the Starting A Business section of our website. Then, contact the DCSBDC.

Starting A Business

Launching a business venture can be overwhelming, but it doesn’t have to be difficult. DCSBDC assists entrepreneurs, novice and experienced alike, along every stage of the business life cycle. For those unsure about where to start, DCSBDC’s provides opportunities for training and business research. Get started today with a phone call to the center nearest you. One on one professional business counseling is available at no charge. We offer a wide range of workshops at no or low cost.

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