The Top 6 Steps to Start your New Business in 2006

Birmingham, MI – November 17, 2005 – If you’ve ever dreamed of working for yourself and starting your own business, now is the time to start. "Small business owners currently make an average of $112,800 per year, more than twice the average for employees (only $45,200),* and technology levels the playing field so you can compete with big business," state Jeff and Rich Sloan, two of the country’s top entrepreneurial experts, hosts of the nationally-syndicated StartupNation Radio program (www.startupnation.com) and authors of "StartupNation – Open for Business."

To help you get started, here are the Sloan brothers’ recommendations:

1. Create a Life Plan
Before you jump into a new business, decide how you want to spend your time now and in the future. For success, figure out your priorities and passions.

2. Pick the Right Idea and Business Model Choose a business idea that suits your personal objectives and that will be "hot" for years to come. Find a business model that fits into your life plan (home-based, e-tail, brick and mortar, franchising, eBay business, etc.).

3. Protect Yourself
Be sure to secure your ownership rights. Whether it’s your company name, logo, latest invention or best-selling product, it’s imperative that you protect your intellectual property. Seek advice from an attorney who specializes in this area.

4. Create a Business Plan
Once you decide on a life plan, carefully develop a business plan that brings together your personal and professional goals. You’ll be more successful and more gratified in years to come because you’ll be doing something that you love.

5. Figure out Your Financing
There are many ways to finance your business including: credit cards, bank loans, friends and family, angel investors, venture capitalists, government grants and strategic investors. However, be sure to choose a source that fits you best. Ask for the right amount from the right source at the right time, and you will be well on your way to business success!

6. Use Technology to Your Advantage
To save time and money, compete effectively and get the most exposure possible, try these tips. Create a website, update your cell phone functionality, add e-tailing to your brick and mortar business, use search-engine advertising to drive people to your website, and purchase accounting software specifically for small business. Perhaps not surprisingly, Microsoft, for example, has just introduced new software aimed squarely at the startup market: Office Small Business Accounting 2006 is fully integrated with the entire Office suite that you already may use.

For more information to help you get started, read "StartupNation – Open for Business" by Jeff and Rich Sloan, visit www.startupnation.com or call 1-866-55-START.

About StartupNation® and the Sloan Brothers Founded by Jeff and Rich Sloan, StartupNation, www.startupnation.com, empowers entrepreneurs to start and grow their own businesses via a multi-media platform, including a nationally-syndicated radio show, online seminars and a weekly newsletter. The Sloan brothers are entrepreneurial experts and authors of "StartupNation: Open for Business" (Doubleday), and frequently appear in numerous national publications and on national, cable television.

*Small Business Administration

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Melanie Rembrandt for StartupNation
mrembrandt@public-i.com
248-540-9660