Do’s and Dont’s for Your Business

Do's and Dont's for Your Business

DO

  1. Look in the mirror: Consider why you want to move. What kind of lifestyle are you looking for, what size town do you want to live in, and what can't you live without?
  2. Find your target customer: Is there a specific group or type of person that will become your core customer? If so, find them through demographic information on the U.S. Census Web site and other resources, then go to them.
  3. Narrow your list: Be honest about where you see yourself and your business flourishing, then pick a few places that meet all your most important criteria.
  4. Talk to local business owners: How easy do they say it is to start and run a business? Does the local leadership listen to their needs and wants? The ease or difficulty of starting a business often mirrors that of actually running a business, and vice versa.

DON'T

  1. Overlook a fundamental need of your business: Decide what your business needs. Are there certain things that your business can't do without, like broadband Internet access? If so, you've already got one important prerequisite for wherever you move.
  2. Go somewhere they've never heard the word entrepreneur: Assess a city's "entrepreneur friendliness." Is the town bustling with activities and small businesses? And go deeper — is there support for entrepreneurs, mentorship programs, and resources in the city?
  3. Fly blind: When you make this important decision, consult experts in the community and do your own research on demographics and the entrepreneurial climate of a given place.
  4. Assume every city offers the same incentives: Study a city's offerings carefully, and make sure to have conversations with community development professionals to get the details on the incentives package. Are there certain incentives that would make your business more profitable? Are tax breaks enough?
  5. Be intimidated: You can find a great home for your business. Get out there, do the research, and even visit a few possible future homes.

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