Basics of starting your own business

SPRINGFIELD, Mass. (Mass Appeal) - We all have million dollar ideas, but unless we put them into practice, they don't turn into the mission dollars we were hoping for.

Dianne Doherty and Sara Li works with the Massachusetts Small Business Development Center and she's here for the first part in a four part series on the basics of starting a small business .

Research - It's important to do your research before starting your own business. Know the industry you are entering and what you can bring to the table. How is your business different from the rest?

Business Plan - The Business Plan is used for two purposes: (1) a document to assist in securing financing and (2) an organizational tool or guide for running the business. It's important to have a business plan if you plan on borrowing money to start your business.

Branding - Choose a name that is easy to pronounce and memorable.

Marketing - In order to build your business you will need to develop a marketing strategy. Figure out who your demographic is and base your strategies around them.


Massachusetts Small Business Development Center Network
Western Regional Office
Scibelli Enterprise Center
One Federal Street, Building 101R
Springfield, MA

(413) 737 - 6712
www.msbdc.org/wmass