Thinking about starting a business in White Bear Lake, Minnesota? This step-by-step guide walks you through the major decisions you should consider before opening a new business in White Bear Lake.
Is Becoming a Business Owner Right for You?
An entrepreneurial life is difficult, much more challenging than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Talk to other entrepreneurs in White Bear Lake. Get their take on what it's really like to be 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. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
The Role of the Business Plan
Writing a business plan is vital to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Starting a business without 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 Minnesota.
Raising Funding for Your Business
Getting your White Bear Lake business the capital it needs to succeed is a difficult chore. 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 Business Line of Credit.
For White Bear Lake entrepreneurs who need startup capital, check out our List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.
Marketing Your New Business
To rise above the crowd in White Bear Lake and build your business, you need a great marketing plan.
There are myriad resources on this site to help you with your marketing plan. Sponsoring Local Events is an article that will stimulate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.
The Art of Selling
Do you know how to sell? In order to attract customers to your new White Bear Lake business, you need to focus on sales.
The key to selling is to set sales goals goals and monitor your progress towards those goals. The good news is we can help you to make selling a big competitve advantage for your new firm.
How to Build and Motivate a Sales Team is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
How to Improve Your Entrepreneurial Abilities
Good entrepreneurs recognize that they need to continually improve.
As an entrepreneur who lives in White Bear Lake, 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 networking organizations for White Bear Lake entrepreneurs.
As an entrepreneur in White Bear Lake, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
We are here to help White Bear Lake 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 White Bear Lake, Minnesota
Here are more links that we believe will help you be successful in starting a business in White Bear Lake.