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What our members have to say...
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"Thank you! I am currently working with Speakers Studio on their business plan and I plan to invest later this year. I found you service very useful and worthwhile."
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Now is the best time to start a business
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Entrepreneur Magazine recently held a first of its kind roundtable in Denver. It focused on the advantages to doing so during a recession and how to find help.
Entrepreneur Magazine writers say there has been huge growth in the small business sector in Colorado since the recession started and the area will continue to grow this year.
It cites Metro Denver Economic Development Corporation data that shows employment growth in the private sector is expected to grow 1.1 percent, an additional 14,000 jobs, this year.
Officials with the magazine say the advantage to launching a business during tough economic times and a high unemployment rate is cheaper costs and a bigger talent pool. They say as long as you have a plan, you can profit.
"If you have clarity of vision and you have a mission and you understand exactly what it is you want to accomplish with your company, you can go out and get money. It's there," Entrepreneur Magazine Editor-in-Chief Amy Cosper said. "You just have to really, really think through what you want to do with your business plan."
Cosper says Microsoft, Cliff Bar and Campbell's Soup are just a few companies that were launched during recessions and have grown into hugely successful brands.
She suggests starting with something you love and building an idea around it.
"The first thing you should do is write your idea down. It doesn't have to be a complex process. It doesn't have to be complex proformas and spreadsheets. Write your idea down and think through it and think what problem your solving and what your message is and what the personality of your brand and your product or service is going to be," Cosper said.
Once you have your idea, Cosper suggests finding successful small business leaders for mentorship, researching your market and using all the resources you can including the Small Business Administration and free advice on Entrepreneur Magazine's website. |
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