Start a business
Starting and managing a business takes motivation, desire and talent, according to the US Small Business Administration. It also takes research and planning. Like a chess game, success in small business starts with decisive and correct opening moves. It takes skill, discipline and hard work to gain the advantage.
To increase your chance for success, take the time up front to explore and evaluate your business and personal goals. Then use this information to build a comprehensive and well thought out business plan that will help you reach these goals.
The process of developing a business plan will help you think through some important issues that you may not have considered yet. Your plan will become a valuable tool as you set out to raise money (financing) for your business. It should also provide milestones to gauge your success.
So before you hire employees, apply for incentives or find a location, sit down and consider what business you’re going into, what skills you’ll need, what the competition is and what funding it will take to make the business successful.
Resources for Starting a Business
It always helps to talk with experienced business executives who have been through the same process. SCORE is a group of such people who are dedicated to helping young companies start up and thrive. SCORE offers counseling small for-profit and nonprofit businesses, either in the start-up phase, or in an ongoing phase. They carry out this mission with free and confidential team counseling sessions, specialized counseling, e-mail counseling, and free workshops. SCORE has volunteers who are both generalists and specialists in a wide spectrum of business segments and who have varied backgrounds, experiences and skills.
The New Mexico Small Business Development Center at the Santa Fe Community College is a great location for a variety of courses as well as advice on business planning and international trade opportunities.
New businesses need to apply for a Federal Employee Identification number (EIN). Then apply for a New Mexico business registration here. Armed with these numbers, you can then readily meet the city’s requirements for licensing businesses.
Santa Fe Business Licensing and Registrations
