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In the current global economic climate the prospect of starting one’s own business is something many people are thinking seriously about. In some of these cases people are driven to this option because they have lost their jobs.

In other cases people starting businesses may be looking for a way to earn more money. Others see starting a business as a way of establishing their independence and developing something they can fall back on when times get tough – something that is not at the whim of a large corporation or a company “boss”.

Encorpus provides small business consulting and strategies for business startups, product launches, marketing or business development. Encorpus customizes and personalizes every strategy, advisory session or business relationship to you and your company’s special DNA.

Starting an online business is certainly a lot less expensive than opening a bricks and mortar shop on Main Street. And the marketing advantages of having an online business are just too great to be ignored.

Say you want to teach guitar, violin or piano to beginners. Not only will you have to know enough to play these instruments at a beginning level, but you will need to develop – or purchase – a curriculum, and then gain some experience in presenting it effectively. If you need to take further training it should be relatively easy to find. In any case, with this kind of business, once you have the relevant knowledge you will be able to start making money almost immediately.

Regardless of what it is, you should choose a field you find interesting, something that excites you and makes you want to get out of bed in the morning. If you can turn your hobby into a business, that might be a good thing.

For example there will be advertising, marketing, bookkeeping, filing, computer maintenance, floor sweeping and coffee making – just to name a few. In a larger company there are usually people who are assigned these tasks. But in a small one person operation either you do them, you pay someone else to do them for you, or they simply don’t get done.

One of the most important things you can do to prepare for the launch of your new company is to think seriously about marketing. Being able to make widgets is one thing. But reaching people who want to buy your widgets is something completely different. You need to define your target market and learn as much about the people in it as you possibly can. Think about who they are, where they are located, what they are buying, how much they are prepared to pay, and how to reach them. The answers to these questions will determine whether or not your business will be successful.

Then there’s the more serious aspect to any business – the stuff that can send shivers up and down your spine. We’re talking about the financial side. Not only will you need to set up appropriate banking arrangements, but you will have to address how you are going to invoice your customers, keep track of your suppliers, and keep records that will satisfy the tax people.