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What are some tips on starting a new business?
What are some tips on starting a new business? I want to open a thrift store, but don’t know how to go about doing it.
Hi,
Well, the first thing to do is develop/write a business plan. In my formal education, we were taught to use something called SWOT (Strengths, Weaknesses, Opportunities, Threats) when writing the plan. It will help you generate ideas and figure out what you want to do and what will hold you back.
Then you’ll need investors, or a financial plan if you have the money yourself.
You’ll also have to consider finding the space, setting up your business taxes (or registering as a NPO – nonprofit organization) or Limited Liability Corporation to determine your tax/accounting structure.
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