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business proposition http://themoneytimes.com/taxonomy/term/81669/all/feed en Entrepreneur’s Guide to Starting a Venture in 2011 http://themoneytimes.com/featured/20110114/entrepreneur%E2%80%99s-guide-starting-venture-2011-id-101701709132.html <div class="field field-type-text field-field-teaser"> <div class="field-items"> <div class="field-item odd"> <p>With the end of the recession, its time to reap some more widespread benefits of the boom. 2011 is hence supposed to be the year of stronger demands and burgeoning business opportunities.</p> </div> </div> </div> <div class="field field-type-text field-field-lead"> <div class="field-label">lead:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>Starting a new business venture is never a child’s play, but 2011 appears promising for those aiming at taking the plunge this year. The Money Times guides you on the intricacies involved.</p> </div> </div> </div> <p>The picture appears to be quite rosy, but it doesn’t make the task of establishing a new business venture this year any easy. </p> <p>On the contrary, the business environment is bound be to more competitive due to a sudden influx of new entrants who had been discouraged by economic slowdown until recent past. So, how can a novice enter the market this year? The Money Times finds out for you.</p> <p><strong>Most Promising Sectors of 2011</strong></p> <div class="field field-type-filefield field-field-image"> <div class="field-items"> <div class="field-item odd"> <img src="http://themoneytimes.com/files/imagecache/picturethumb/business-plan.jpg" alt="" title="" class="imagecache imagecache-picturethumb imagecache-default imagecache-picturethumb_default" width="180" height="129" /> </div> </div> </div> <div class="field field-type-text field-field-box"> <div class="field-items"> <div class="field-item odd"> <p><strong>Common Mistakes in Starting New Business</strong></p> <p><strong>Lack of Research</strong> The most common startup mistake is a lack of knowing the wants and needs of future customers.</p> <p><strong>Being Product Centric Rather than Consumer Centric</strong> Several entrepreneurs are so captivated by their "idea" that they focus entirely on the product and the enterprise. Later they are forced to learn that people do not automatically buy products that the entrepreneur expected them to love!</p> <p><strong>Overestimating Revenues</strong> Another common mistake people new to business make is overestimating revenues and underestimating expenses.</p> <p><strong>Being Too Trusting</strong> Most small business first timers trust everyone around them and listen to all the noise. Take the advice but don't live by it. Your two best friends in business are your accountant and lawyer!</p> <p><strong>Giving Up Easily</strong> Failure is part of owning a business. But as an entrepreneur, you have to put failure in a category that is temporary. Failure is but one of many rungs on the ladder of success.</p> </div> </div> </div> <div class="field field-type-text field-field-imagecaption"> <div class="field-label">imagecaption:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <p>If you have the passion, motivation and faith in your self, there is nothing under the sun that can dither you from achieving your goal. Go ahead and make your dream business a reality! </p> </div> </div> </div> <p><a href="http://themoneytimes.com/featured/20110114/entrepreneur%E2%80%99s-guide-starting-venture-2011-id-101701709132.html" target="_blank">read more</a></p> http://themoneytimes.com/featured/20110114/entrepreneur%E2%80%99s-guide-starting-venture-2011-id-101701709132.html#comments business idea business plan business proposition licenses procedures sectors starting new business in 2011 Starting up Top Story United States venture Fri, 14 Jan 2011 11:39:41 +0000 Gunjan Mehra 1701709132 at http://themoneytimes.com