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If youre serious about starting your own business you have to ask yourself some very important questions. What do you do best??What do you like to do??What does the market want??If you find one answer for all three, you are going to succeed.

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Certainly youve got to be a go-getter and youve got to be determined. But youve also got to take a business-like approach to starting your own business with good market research and a solid business plan.

Most successful businesses arent founded in a vacuum. They tend to be started by entrepreneurs who already have substantial experience in their fields. They know their customers and their needs and how to fill them. Finding the right niche is very important. The best way to find your niche is to draw from your personal experience in a specific field.

Once you know what to do, youve got to find customers who want to pay for your products and services. And that requires serious business research.

You need to analyze your customer base. Learn who they are and how they can be reached. Calculate how much it will cost to reach them to communicate your availability. You have to learn what the market will pay for what you have to sell. Under pricing your products or services is one of the biggest mistakes a new small business person can make.

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A business plan is your roadmap for success. Amazingly, less than half of all businesses have a formal plan and that in itself is a big reason why new businesses have such a high failure rate. You dont need to hire an outside consultant to design your business plan, but you should take the discipline seriously if you prepare it yourself.

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