Hawaii Business Startup Guides
Starting a Business in Lihue, Hawaii
Thinking about starting a business in Lihue, Hawaii? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Lihue.
Do You Have Entrepreneurial Drive and Passion?
Most new companies do not succeed, in part because the entrepreneur did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Speak with other entrepreneurs in Lihue. Get their candid feedback on what it takes to start a successful business.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Which Business to Choose?
There are many businesses that you can start. How do you know which type of business is right for you? You might get some good ideas about what kind of business to start by reading Free Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Opening a Construction Engineers Business guide or our Starting a Paving Equipment Retail Business guide.
Always keep in mind that you are opening your new business in Lihue. Some businesses will do better in Lihue than others. Only by spending some time analyzing Lihue demographics can you decide if there will be strong demand for your business idea.
Lihue, Hawaii Demographic Information
Lihue has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lihue demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lihue.
As a new Lihue entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lihue for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Picking a Company Name
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Company names need to be easy to spell, easy to pronounce, and easy to remember.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
There's one other important factor when naming a business. Since you are planning on starting a business in Lihue, it's imperative that you check now that no Hawaii company has already registered the company name you have selected.
Make Sure You Have a Business Plan
Having a business plan is vital in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Starting a business without a business plan makes you more prone to becoming a business failure statistic.
If writing a business plan is on your to-do list, be sure to read Free Business Plan Templates. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Hawaii.
Raising Capital for Your Business
Obtaining startup financing for your Lihue business is very difficult due to the ongoing business credit crunch. In fact, financing your new business may be the hardest challenge you ever face.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Getting a Small Business Loan.
The Art of Selling
Mastering the art of selling is priority one if you want your new Lihue business to do well.
So what does it take to bring in more prospects and close more business? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Now It's Up To You
Most new Lihue businesses underestimate the number of challenges they will face.
If you choose the right business and love what you do, you will greatly increase your odds of success.
This site is all about helping entrepreneurs in Lihue and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Lihue entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Lihue, Hawaii
Here are more links that we believe will help you be successful in starting a business in Lihue.
- Resources for Lihue, Hawaii Entrepreneurs - Browse a variety of resources we've collected to assist Lihue entrepreneurs.
- Hawaii Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Hawaii.
- Hawaii Small Business Development Center - The Hawaii SBDC Network provides you with the resources you need for starting a new business or expanding an existing one.
Starting-a-Business Guides for Other Cities in Hawaii
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