Minnesota Business Startup Guides
Open a Business in Watertown, Minnesota
Need help starting a business in Watertown, Minnesota? We've got the information you need to open a business in Watertown.
Are You Ready for Life as an Owner?
Most new businesses fail, in part because the business owner 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.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Watertown. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
What Business Are You Starting?
There are many businesses that you can start. How do you know which type of business is right for you? If you are struggling with what type of business to start, read Free Business Ideas.
If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Waste Disposal Equipment & Supplies Business guide or our How to Start a Kitchenware & Glassware Retail Business guide.
Remember that your new startup will be located in Watertown. If Watertown already has plenty of the kind of business you want to start, you might want to change your plans. Only by spending some time analyzing Watertown demographics can you decide if there will be strong demand for your business idea.
Watertown, Minnesota Demographic Information
Watertown has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Watertown demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Watertown.
Businesses
As a new Watertown entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Watertown 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
Startup Financing Basics
Getting your Watertown business the capital it needs to succeed is not an easy task. In fact, financing your new business may be the hardest challenge you ever face.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.
For Watertown entrepreneurs who need startup capital, check out our List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.
Marketing Your New Venture
To grow your Watertown business, you'll need to have a good marketing plan.
There are myriad resources on this site to help you with your marketing plan. Introduction to Advertising discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a taste of the many useful articles we have on Marketing a Small Business.
How to Improve Your Entrepreneurial Abilities
Successful entrepreneurs recognize that they don't know everything.
With your business being located in Watertown, Minnesota, you will want to take advantage of the many programs available at nearby Minnesota universities, colleges and community colleges. It's also beneficial to see if there are any Watertown networking organizations.
Never Give Up
Most new Watertown businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in Watertown and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Watertown 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 Watertown, Minnesota
Here are more links that we believe will help you be successful in starting a business in Watertown.
- Resources for Watertown, Minnesota Entrepreneurs - Browse a variety of resources we've collected to assist Watertown entrepreneurs.
- Minnesota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Minnesota.
- Minnesota Small Business Development Center - The Minnesota Small Business Development Centers provide no-cost, professional business consulting to Minnesota small businesses covering a variety of business needs.
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