Thinking about starting a business in Ryan, Oklahoma? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Ryan.
Do You Have What It Takes?
An entrepreneurial life is demanding, and can be orders of magnitude more strenuous than working as an employee. Are you sure you have the stamina and skills to succeed on your own?
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Grab a meal or cofee with other entrepreneurs in Ryan. Get their candid feedback on what it takes to start a successful business.
- Take a look at The Entrepreneurial Personality. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Reach out to a trusted acquaintance. 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.
Ryan, Oklahoma Demographic Information
Ryan has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Ryan demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Ryan.
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|All Ryan Businesses
As a new Ryan entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Ryan 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.
Nursing Care Facilities
Pharmacies and Drug Stores
Forming a Company in Ryan, Oklahoma
It's very important that you choose the right legal structure for your new entity. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Oklahoma, you don't necessarily have to incorporate in Oklahoma. In fact, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as C Corp Versus S Corp. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Ryan, Oklahoma, our information on Incorporating in Oklahoma may be a useful resource if you decide to incorporate in Oklahoma.
The Role of the Business Plan
Writing a business plan is essential to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Failure to write a business plan will greatly reduce your chances of business success.
To learn more about business plans, read Business Plan Contests. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Oklahoma.
Startup Financing Basics
Getting your Ryan business the capital it needs to succeed will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
For Ryan entrepreneurs in need of startup financing, you'll want to take a look at our List of Oklahoma Angel Investors and our List of Oklahoma Venture Capital Firms.
How to Sell
Do you know how to sell? In order to attract customers to your new Ryan business, you need to focus on sales.
Why should customers buy from you instead of buying from competitors? Let us help you refine your selling techniques through our many useful sales advice tips.
Sales Forecasting offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Now It's Up To You
As an entrepreneur in Ryan, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
Our goal here is to promote the vitality and growth of small businesses in Ryan and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Ryan, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Ryan, Oklahoma
Here are more links that we believe will help you be successful in starting a business in Ryan.