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7 Things To Keep In Mind When Starting A Business

Are you considering opening up a small business or practice? That can be a daunting task and will take a lot of hard work on your part to get it off the ground and running. Here are a few suggestions to help get you started on the right foot.

Offering

Of course, before you can begin you need to know what your product or service will be. This can’t just be you saying, “I’m going to open a dental practice.” Well, what do you plan to offer? Will you do all the basics? Most of the basics except a few things like teeth extraction? The services you provide will dictate how you run your business.

Message

You need a clear and concise message that you broadcast about who you are and what you offer. This should be simple for you to say and easy for people to remember. Think Nike’s “Just Do It.” Every time you hear that you think of them. Your message should be similar.

Audience

Who exactly are you trying to target? If you’re a dentist then, obviously, you want to help people with their teeth, but do you specialize in children, adults, the elderly? Going even a step beyond that can help in choosing your message. Do you mostly work with working adults who have busy careers they need to get back to? Then let them know that you are quick and thorough and will have them in and out in no time.

Market

Take the time to research the market you’ll be opening shop in. How many other dentists are there in the area? What do they specialize in? Also, consider what they charge and what insurance companies they are willing to work with. This will help you when making your own important business decisions.

Protection

Make sure you seek the proper legal counsel to minimize the chance of embezzlement, fraud, waste and abuse for your small business. By speaking with a legal representative you will know the best techniques for risk reduction and how to detect early warning signs.

Organize

Keep in mind that if you are starting your own business, the beginning will require quite a bit more give than take as you set everything up. You’ll want to keep track of how your business grows and changes so make sure to keep detailed records of everything from finances to products. This will help you to know how to evolve with your changing business.

Support

There is a huge learning curve for owning and operating your own business. As you start out on this new experience, don’t be afraid to ask questions. Your community is filled with other small business owners who were once in your shoes. Ask the successful ones what they did to get to where they are. I think a common response you’ll receive is, “a lot of hard work,” but they might have other helpful tidbits for you.

There are many success stories for small business owners so don’t put yourself down if the business doesn’t immediately take off. This will take time, patience, and effort, but it can be done. Good luck!

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