How do I start a business practically?

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My answer to How do I start a business practically?

Answer by Ken Larson:

Don’t leave your job without a plan.

Develop it in parallel with your current work. Insure that you are not moving into a field where your current employer has you signed to a non-compete agreement, a non-disclosure agreement or some other piece of paper you signed with your employment that would keep you out the business.

Then – follow your value system. Examine you talents, your attributes and your affinities and develop an idea for a business that you would enjoy.

Evolve your plan as you continue working for your current employer.

Give your start up idea the following test:

1. Do you have a product or service niche in mind?

2. Do you believe you have a market for 1 above and the means to reach it?

3. Are you willing to develop a business plan using the tool kit linked below to validate 1 and 2 above before you launch?

If the answer to the above questions is yes than take the actions indicated, observe the results, then make an informed decision on whether or not to proceed.

How to Write a Business Plan

Free Business Plan Samples

When you launch if your plan risk analysis indicates high early challenges, phase into them gradually while retaining your present employment. As the business matures and your risks are mitigated, cut over to full time and resign your old position when you are comfortable doing so.

How do I start a business practically?

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About rosecoveredglasses

2 Tours in US Army Vietnam. Retired from 36 Years in the Defense Industrial Complex after working on 25 major weapons systems, many of which are in use today in the Middle East. Volunteer MicroMentor. I specialize in Small, Veteran-owned, Minority-Owned and Woman-Owned Businesses beginning work for the Federal Government. MicroMentor is a non-profit organization offering free assistance to small business in business planning, operations, marketing and other aspects of starting and successfully operating a small enterprise. You can set up a case with me at MicroMentor by going to: http://www.micromentor.org/ key words: "Federal Government Contracting"

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