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Starting a business is all about timing
Sunday, October 04, 2009 | No comments posted.
When is the best time of year to start a business?
The best time of year to start a business depends on the type of business and when the business cycle is at its best.
For instance, construction companies are busiest in the spring, summer and fall. That means it would be expensive to get started in the fall and not have the jobs creating revenue until spring. Tourism businesses are busiest in the summer so September might not be the time to open a kite shop on the South Coast.
One of the mistakes startup business owners make is not planning. If it happens to be the wrong time of year to get started in your industry, use the time to plan and research so you will be ready.
Writing a business plan can take 50-200 hours including the research. The business plan gives you an opportunity to explore how feasible your idea is before dedicating resources to it, not to mention the need for a business plan to obtain financing.
If you need financing, plan on an additional six to12 weeks to arrange for that. For some businesses it can take six months to a year to prepare to be in business.
If you don’t know how to write a business plan, check out the Oregon Small Business Development Center Network resources at http://www.bizcenter.org. The Southwestern Oregon Community College Business Development Center offers regular training on writing a business plan. For more details, call 756-6866.
The best time to start a business is when you are prepared financially, you’ve done your planning, your customers are ready to buy and you have informed them your business is open.
(Arlene M. Soto is the Director of the Southwestern Business Development Center. To ask a question call 756-6445, e-mail asoto@socc.edu, or write 2455 Maple Leaf, North Bend, OR 97459. )
The best time of year to start a business depends on the type of business and when the business cycle is at its best.
For instance, construction companies are busiest in the spring, summer and fall. That means it would be expensive to get started in the fall and not have the jobs creating revenue until spring. Tourism businesses are busiest in the summer so September might not be the time to open a kite shop on the South Coast.
One of the mistakes startup business owners make is not planning. If it happens to be the wrong time of year to get started in your industry, use the time to plan and research so you will be ready.
Writing a business plan can take 50-200 hours including the research. The business plan gives you an opportunity to explore how feasible your idea is before dedicating resources to it, not to mention the need for a business plan to obtain financing.
If you need financing, plan on an additional six to12 weeks to arrange for that. For some businesses it can take six months to a year to prepare to be in business.
If you don’t know how to write a business plan, check out the Oregon Small Business Development Center Network resources at http://www.bizcenter.org. The Southwestern Oregon Community College Business Development Center offers regular training on writing a business plan. For more details, call 756-6866.
The best time to start a business is when you are prepared financially, you’ve done your planning, your customers are ready to buy and you have informed them your business is open.
(Arlene M. Soto is the Director of the Southwestern Business Development Center. To ask a question call 756-6445, e-mail asoto@socc.edu, or write 2455 Maple Leaf, North Bend, OR 97459. )
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