Step 1: Find the Small Business Development Center (SBDC) Workshop in your Area
There are many aspects of starting a business — from testing the market to finding funding. You have an SBDC in your area at the closest college, university or USU Extension office. Many offer in-person, start-up workshops on a regular basis for low or no cost.
These start-up workshops will give you tools and insights to know what it takes to plan for your business. Register here for a start-up workshop in your area or call your local SBDC for their workshop schedule.
Step 2: Meet with a Consultant
Ready to speak one-to-one with a business consultant? Request an appointment here or call your local SBDC. When you filling out the request form, the SBDC will contact you and make an appointment for a confidential meeting to discuss your idea and how the SBDC can help you.
Step 3: Explore Online Resources and the Entrepreneur Academy
Your SBDC consultant will help you find resources and identify the skills you will need for your business. It’s like having an experienced business owner with an MBA looking over your shoulder. We can help you understand the language
of business and help you find helpful resources. Your SBDC consultant can give you access to online training in the Entrepreneur Academy. There you get an overview of business and specific information about critical issues such as sales tax, social media marketing and more — Learn online, at the best time for you.
Questions to Consider When Considering Starting a Business:
1. The Idea
- What problem or opportunity does your idea solve?
- What product or service will you offer?
- Who is most likely to be interested in buying your product or services? Do they want to solve the problem your idea solves?
- Will you build your business from scratch, do you plan on buying an existing business or buying a franchise?
2. Who is Your Market?
- Who will you sell to?
- How many people will need your solution?
- Who else is solving this problem? What are their strengths and weaknesses?
- What do you do better than your competition?
3. Is It Feasible?
- Do you have a way to create and deliver your product or service?
- What will it cost to make/offer your product or service?
- How can you test if people will buy your product?
- What price would you charge a customer? How can you test if people will buy at this price?
- How much money will you make from each sale?
- What will be your monthly expenses?
- How much money will it take to start selling?
- How can you finance the business?
- Can you do the work needed to get it going?
- Have you reviewed a financial break-even analysis with anyone?