August 3, 2020  
 
  Entrepreneurial Resources - Advice for Tennessee Entrepreneurs  
  Lookout Mountain, Tennessee Resources for Entrepreneurs  
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Starting a Business in Lookout Mountain, Tennessee

Thinking about starting a business in Lookout Mountain, Tennessee? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Lookout Mountain.

Will You Be a Good Entrepreneur?

Most new companies do not succeed, in part because the founder 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.

With so much at stake when you start a business, we strongly recommend you do the following before you proceed:

  • Talk to other entrepreneurs in Lookout Mountain. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
  • We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
  • Have a candid conversation with friends and family. Others sometimes know you better than you know yourself.

What Business Are You Starting?

An important decision is what kind of business you want to start. To stir your creative juices on what kind of business to start, take a look at Evaluating Your Idea.

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 How to Start a Driveways Residential Business guide or our How to Start a Sewer Companies Business guide.

Always keep in mind that starting a business in Lookout Mountain has some implications. Some businesses will do better in Lookout Mountain than others. Make sure you fully understand Lookout Mountain demographics before you lock in on your business idea.

Lookout Mountain, Tennessee Demographic Information

Lookout Mountain has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Lookout Mountain demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lookout Mountain.

Business Size# of
Businesses
1-4 Employees 174
5-9 Employees 36
10-19 Employees 18
20-49 Employees 0
50-99 Employees 12
100-249 Employees 0
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Lookout Mountain Businesses 240

As a new Lookout Mountain entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lookout Mountain 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.

Business Type # of
Businesses
Art Dealers 1
Book Stores 1
Fitness and Recreational Sports Centers 1
Full-Service Restaurants 2
General Automotive Repair 1
Gift, Novelty, and Souvenir Stores 1
Janitorial Services 1
Motion Picture and Video Production 1
Museums 1
Newspaper Publishers 2
Offices of Dentists 1
Offices of Lawyers 1
Portfolio Management 1
Radio Stations 1
Sales Financing 1
Television Broadcasting 1
Veterinary Services 1
Women's Clothing Stores 1

What About Buying an Existing Lookout Mountain Business?

An excellent way to get started in business is to Buy a Business in Tennessee. Follow that link and you may find several good businesses for sale in Lookout Mountain.

If you are serious about buying a business, you may want to read this article: How to Buy a Business.

Make Sure You Have a Business Plan

A business plan is vital in laying a solid foundation for your business success. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.

To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Tennessee.

Getting Money to Start a Business

Getting your Lookout Mountain business the capital it needs to succeed is not an easy task. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.

For Lookout Mountain entrepreneurs in need of startup financing, browse our List of Tennessee Angel Investors and our List of Tennessee Venture Capital Firms.

What's Next?

Most new Lookout Mountain 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.

We are here to help Lookout Mountain businesses to be successful. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.

More Entrepreneurial Resources for Starting a Business in Lookout Mountain, Tennessee

Here are more links that we believe will help you be successful in starting a business in Lookout Mountain.

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety