Starting and growing a business is a challenge regardless of the size or nature of the business. But the challenges are even greater for small business owners. Because of this, you need a small business advisory service for your Minneapolis business.
If you are considering starting a business, a small business advisory service can become the unseen partner that ensures success during those critical first months of operation. Among other things your small business advisory service in Minneapolis can help:
- Develop business plans
- Identify and assist you in applying for sources of capital
- Work with you in developing marketing strategies for expanding your customer base
- Set up record-keeping systems
- Analyze and develop better financial performance
- Identify and help in the bidding process for government and corporate contracts
- Conduct research on a diversity of topics geared to the specific needs of your business
To make the best use of the time you will have in your first consultation, take the time to answer the following questions.
1. Why do you want to start a business? (Check all that apply to you.)
- I have experience in my industry and feel that I can work for myself.
- I am currently out of work and am looking for a way to earn income.
- It has been a lifelong dream to start my own business.
- I am unhappy with my current employment situation.
- Other______________________________________________________________
2. What type of business do you want to start? (Circle one and describe.)
- Retail/Wholesale__________________________________ (type of product)
- Construction (residential, commercial, both)
- Service____________________________________________(type of service)
- Manufacturing____________________________________(type of product)
- Invention_________________________________________(describe)
- Other____________________________________________(describe)
3. How much funding will your business require to start? (estimate) ______________
4. When do you plan to start the business? (month, year) _______________________
5. Estimate your first year sales? $ ______________
6. How do you plan to finance the start-up of your business? (Check all that apply.)
- Savings
- Bank Term Loan/Line of Credit
- Investors
- Friends, relatives
- Other_________________________________________________(Identify)
7. How much money do you have available to invest in the business?
8. What is your current occupation? ___________________________________________
9. Which industry do you work in? _____________________________________________
10. How would you rate your credit history? (check one)
- Excellent
- Good
- Satisfactory
- Less Than Satisfactory
11. Which legal structure are you considering for the business? (Choose only one.)
- Sole proprietorship
- Partnership
- Corporation
- Limited liability partnership (LLC)
- Unsure at the present time
12. Have you registered the name of your business? _____________________
13. Do you currently have a draft of your business plan? _________________
14. Is anyone currently providing the same or similar services/product as your business?
- Yes (Identify two companies if possible) __________________________________
- No
15. Do you have any collateral (real estate, inventory, equipment, vehicle, CDs, stock)?
- If yes, identify type(s) of collateral____________________
- No
16. Is your business home-based? _______
- If No, have you found a location for your business? ________
17. Have you ever worked, or are you currently working in, the industry?
- Yes. If so, for how long? ___________
- No.
18. Have you identified your target market? __________
19. Do you plan to contract with local and federal government agencies? _________
20. Do you plan to export? __________
21. Do you have an accountant? ________
22. Do you have a lawyer? _________
23. Will you need to hire employees for your business?
- Yes. How many in the first year (estimate)__________________
- No
24. Do you have a recent (within the last year) copy of your credit history report? _________
25. Have you filed bankruptcy within the past ten years? ________
26. Have you ever owned a business before? ________