Top 10 tips to start
your own business

1. Identify a need in the marketplace.

Look for opportunities where clients are underserved.

2. Match the niche you select with your strengths, talents and interests. If you've been created to succeed at the task at hand, and you're passionate about what you do, then you'll be able to overcome difficult times in your new business.

3. Research the market to ensure that there is a need for your product or service.

4. Compose your mission and vision.

Business owners who have a vivid vision to guide them are the ones who lead their industry.

5. Develop your Unique Selling Proposition for your product or service. When you have a compelling reason for people to do business with you -- and only you -- differentiating you from your competitors, you'll never feel the heat when people start a similar business.

6. Choose a name that describes what you do. (Confirm that the name you want is not already trademarked at the U.S. Patent and Trademark Office online at: www.uspto.gov.)

Go to GoDaddy.com to register a domain name for your Web site. If it's taken, brainstorm and find another name. Having a Web site that matches your business name is critical.

7. Develop your click-and-mortar business growth strategy.

You must be able to reach people who do business online and/or offline to get the maximum number of clients, and serve them according to their preferred buying style.

8. Determine your company's legal structure.

Talk to an accountant, an attorney and an enrolled agent to determine the most advantageous legal structure for the type of business you want to set up.

9. Put together your virtual team of experts to help you save time and get more done.

Two ways you can create a team and get more done in less time on a low budget are outsourcing tasks and contracting your own "virtual assistant" to help you get things done professionally.

One place to find a virtual assistant is assistu.com, where you'll also learn how an assistant works in your business without taking any space in your office.

10. Subscribe to a blog (Web log) designed to help small-business owners accelerate the learning curve. Business blogs are full of important information and research that help the small-business owner save time.