Ever thought of starting a small or home-based business?  You're not alone, as small or home-based businesses comprise over forty percent of the U.S. economy.  Many people have started a small or home-based business to fit their lifestyle or for part-time income.   Here are a few tips to get started:

Assess Your Talents

What do you enjoy doing?   What are you really good at?  Ask your friends and relatives for feedback. Your talents are the base for any successful business venture.

Examine Your Skills

Talents are innate but skills are what you'll put into practice daily to make your idea a success.

The owner is the ""chief cook and bottle washer" during most business start-ups.  Do you have marketing and sales skills? Time management skills?  Interpersonal and people management skills?  Ask any seasoned small business owner and they'll gladly recount all the skills they needed to start their business but never knew they possessed!

Have you considered taking courses to improve your skills? Or working with someone else who can "show you the ropes"?   You may acquire some of these skills, while other skills like accounting and business tax preparation can be outsourced.  

Give Your Business Idea a Marketing Test

How will your business generate sales and income?  Is there a ready market for your product or service?  

Research your market carefully.  There's a tendency to project rosy sales and profits, but this can be self-deluding.  

Are there other markets where your idea has been successful? Have you spoken with owners of similar businesses in your own or other markets to determine if their reasons for success are applicable to your situation?

Sometimes the selection of business location can make or break your business.  Have you considered hiring a location consultant to help you with this very important decision?

Create a Business Plan

Business plans can be tedious, but if your idea requires a significant up-front investment of time or money, then you'll be glad you did your homework! 

A business plan will help you assess your talents and skills, test the market, create marketing, sales and financial plans, and generally provide a good foundation for success.

Other Factors to Consider

How will your business be organized? Sole proprietor, corporation or partnership?  Some business owners consider incorporation to minimize their personal liability. Duxbury requires that you apply for a business permit at the Duxbury Town Office ( "doing business as") if you have not incorporated in Massachusetts.

Consider joining the DBA (apply for a membership by clicking here) to gain useful insights and contacts. Your first customer may be a fellow DBA member!

Help Is On The Way!

DBA members offer useful services and advice to new business owners, whether it be a small or home-based business.

Click here for a list of DBA members by category.  We can help you with strategic planning, payroll, incorporation, insurance, graphic design, advertising, technology support, office space rental, office space design and a host of other services.

If you need help, please feel free to ask a fellow DBA member. We've been through it before, and we'll be happy to lend a hand!

-- Terry Reiber, DBA Member