You’ve decided that you are currently in the ideal position to start a business. Now what?
Knowing where to start isn’t always simple, you have options! Once you get into it, you’ll quickly realize the concept of starting a business is much different from getting going.
When you’re ready to start a business, your next step is determining which route best matches you and your goals.
Here are three different ways to start a business.
Start from scratch
Solopreneur. Sole busines proprietor. Entrepreneur.
But also, freelancer!
Most people get into business by starting something on their own.
Of course, while starting a business from scratch allows you shape and control every aspect of it, it can be difficult to get your business off of the ground.
You need time to develop your product or service, and more time to get proven results. So, while this is the quickest way to get started it’s not always the quickest way to make money if you don’t have connections and clients already lined up.
Buy a business
Another way you can start your own business is by purchasing an established business!
The idea of buying someone else’s business may seem a bit weird at first, but think about it. They’ve already done the work of building a brand and establishing a customer base. Now they’re looking for an exit strategy.
Which is perfect, since you’re looking for a profitable business to run!
You can learn about businesses for sale on marketplaces and through online listings and brokerages. When you search online you’ll find lots of options, from brick and mortar to drop shipping and everything in between!
Become a business partner
A third option for starting a business is by becoming a partner in an established business.
There are all sorts of arrangements you can find, so figure out what you’re interested in doing and then go find it!
Here are a few examples:
- General partnership
- Limited partnership
- Limited liability partnership
- Limited liability limited partnership
Entering into a business partnership doesn’t work for everyone, but the fact is that it can act as a great option if you like the idea of sharing the workload, risk, and reward.
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