When you decide to start a small business, be ready for the series of difficulties you'll experience. Determination and interest is much required for starter like you. When I started my own small business, I thought it is that easy but it turned out to be a big challenge for me. Here are some tips:

DECIDE THE TYPE OF BUSINESS.

Start a small business that you knew so well. Having limited capital, there is no room for a consultant or hiring someone to do a feasibility study. All planning aspects will be personally done by you. Even your initial finances should be handled and monitored personally. To minimize possible risk of zero patronage, engage into a kind of business that already registered a success record. It can be a direct duplicate, an alternative or a complimentary business.

To explain further, a direct duplicate refers to similar business like a burger business and a sandwich business; alternative business refers to a business that is not directly similar to the existing but can be an option like a gift shop and a school/office supply business; and a complimentary business refers to not similar but related business like a business selling cell phone and accessories and a loading station offering electronic mobile load and cards. Once you started with this kind of business, assurance of existing market is an advantage. It's up to you how to deal with the competition and win share of that market. Right location and quality service are the key points.

SETTLE ALL REQUIREMENTS.

Have all the business requirements and documentations approved and done. Starting your business right will free you from any government violations. Finalize your manpower and business set-ups. It is favorable if you start your business by involving yourself as one of the labor force. Personal monitoring is highly needed for business starters.

LOOK FOR FEASIBLE SUPPLIERS.

Consider suppliers that are accessible and offers good payment terms. Remember, as a starter, it requires you to administer your purchases of materials and supplies personally for you still can't afford bulk delivery. Longer payment terms will benefit your cash flow and gives you ample time to work on your returns.

CHOOSE PRACTICAL MARKETING STRATEGIES.

Create awareness for your new business using the most practical strategies. Limited marketing budget is a must for starters. Word of mouth, leafleting and telemarketing are some of the great practical strategies you can adopt in advertising.

CREATE AN IMAGE.

As a starter in the business, first impression counts a lot for customers. Friendly outlook, fast and reliable service and honesty are just some useful criteria to create impressive image to the buying public.