1. 1. Tips for Start-ups by Chaz BermanI have participated in a number of start-up companies. Ienjoy the energy that arises as part of a start-up, with agroup of people working together to reach commongoals. Start-ups have amazing possibilitiesnot just forincome generation, but also to bring new and excitingideas to the marketplace that just may make the world abetter place.
2. 2. Here are my tips for start-up businesses:1. Follow your passion. Starting a businesstakes energy and enthusiasm, so you will wantto pursue an idea about which you arepassionate. Believing in your product or servicewill serve you well as you continue to developyour idea, find business partners, and seekfinancing.
3. 3. 2. Do your research. All businesses start with an idea,but having that idea is not enough to grow thebusiness. Once you have a concept, it is time to dosome research. Look at what is currently available inthe marketplace and assess how your product orservice will fit in. Define your market niche. Examinethe competition to determine whether there is a needfor your product or service. If you are introducing aproduct or service into an already saturated market,then success will be much more difficult.3. Make a financial plan. When planning financially,you will need to consider important data such asamount of necessary working capital and how you willraise those funds. Work with experts who can help youmake an accurate assessment of the financials foryour business.
4. 4. 4. Write a business plan. Once you haveperformed research and determined feasibility,create a business plan. A good business plancontains information about your concept, themarket you will serve, the results of your marketresearch, an assessment of your competition,and necessary financial documentation. Ifnecessary, seek help from an expert, becauseyou will use your business plan to attractinvestors and principals.
5. 5. About the author: Chaz Berman has made acareer of working in business start-ups.Currently, he serves as the Chief ExecutiveOfficer for Growers Secret, Inc., and thefounder and Executive Chairman of the Boardfor Lojali, Inc.
6. 6. About the author: Chaz Berman has made acareer of working in business start-ups.Currently, he serves as the Chief ExecutiveOfficer for Growers Secret, Inc., and thefounder and Executive Chairman of the Boardfor Lojali, Inc.