Indiana Business Startup Guides
Starting a Business in Sullivan, Indiana
Thinking about starting a business in Sullivan, Indiana? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Sullivan.
Will You Be a Good Entrepreneur?
Being an entrepreneur is hard work, and can be orders of magnitude more strenuous than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Talk to other entrepreneurs in Sullivan. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. Others sometimes know you better than you know yourself.
Sullivan, Indiana Demographic Information
Sullivan has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Sullivan demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Sullivan.
Businesses
As a new Sullivan entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Sullivan 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.
Businesses
What About Buying an Existing Sullivan Business?
If you have some capital to play with, you may want to Buy a Business in Indiana. Follow that link and you can assess several good businesses for sale in Sullivan.
For anybody who wants to buy a business, we recommend reading this useful article: Buying a Business.
Company Formation in Sullivan, Indiana
It's essential that you form your business as a legal structure. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will select one of many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating 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. Just because you are starting a business in Indiana, you don't necessarily have to incorporate in Indiana. As it turns out, you can incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Nevada Incorporation. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Sullivan, Indiana, our web page covering Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.
Raising Money for Your New Venture
Raising money to fund your new Sullivan business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
Take advantage of our many articles on finding startup capital, such as Choosing VC Firms.
For Sullivan entrepreneurs who want to raise money for a new venture, check out our List of Indiana Angel Investors and our List of Indiana Venture Capital Firms.
The Art of Selling
Do you know how to sell? In order to attract customers to your new Sullivan business, you need to focus on sales.
So what does it take to bring in more prospects and close more business? Let us help you refine your selling techniques through our many useful sales advice tips.
Compensating Sales People offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
How to Improve Your Entrepreneurial Abilities
Successful entrepreneurs know that what they know now may not be enough to ensure their future success.
With your business being located in Sullivan, Indiana, you should get information on some of the many programs available at nearby Indiana universities, colleges and community colleges. You should also check if there are any networking organizations for Sullivan entrepreneurs.
What's Next?
As an entrepreneur in Sullivan, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Sullivan and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Sullivan, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Sullivan, Indiana
Here are more links that we believe will help you be successful in starting a business in Sullivan.
- Resources for Sullivan, Indiana Entrepreneurs - Browse a variety of resources we've collected to assist Sullivan entrepreneurs.
- Indiana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Indiana.
- Indiana Small Business Development Center - The Indiana Small Business Development Center assists Indiana entrepreneurs and small businesses through one on one counseling, education and business resources.
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