February 21, 2003, Newsletter Issue #37: Start Your Own Home Business
Tip of the Week
Find Your Niche
Like many entrepreneurs in major cities, you must decide which economic level and geographic community youīll serve. For example, you may choose to provide after-school care for low income children in one part of the community, or open a high-tech fitness facility for youngsters in a more affluent area. Look for an underserved niche--one in which thereīs not a long list of entrenched competition--and then do some research to determine if it represents a viable market for you.
Business Plan
A business plan outlines the steps you intend to take to market your business, manage your employees and finances. It also states your mission or purpose of your business. It is best to have a business plan as a way of measuring the success of your business.
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