Uncommon Advice for Starting a Small Business from Forbes

by JFP Staff

1. Address your excuses. Figure out the reasons you think you can't start a business and find a solution.</li>
2. Listen to people who give you advice. Write things down and keep notes. Get people to be honest with you about what they think.
3. Think of your business in terms of how it could solve a problem. Forbes says it's easier to get a customer base when you're fixing a problem, and fitting into a certain market or niche.
4. Keep it simple and don't go overboard. You can't do a million things well, especially in the beginning.
5. When you start to figure out your idea, add up the total expenses, keeping your personal expenses in mind, and create a budget.
6. Imagine what it would be like with no incoming money (it could happen, Forbes says), and come up with a plan for the worst outcome.
7. Keep your day job and build your business in stages before you leave your paycheck behind.
8. Sell people on your business. All the time. Every single day.
9. Know the legal requirements for starting a business. Sos.ms.gov is a good resource.
10. Use both your passion and knowledge in your new business.

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Read more at jfp.ms/forbesbiztips.

Mississippi's Small Biz

Here are facts-to-know from the U.S. Small Business Administration's Office of Advocacy's 2017 data on our state.

Small businesses comprise 99.3 percent of the state's businesses.

In 2013, professional, scientific and technical services made up 78 percent of the total small-business employment share.

The 2017 data shows that the state of Mississippi has 74,801 nonwhite-owned businesses.