Kentucky Business Startup Guides
Opening a Business in Danville, Kentucky
Contemplating starting a business in Danville, Kentucky? We walk you through the process of opening a business in Danville.
Are You Sure You Want to Do This?
Most new companies do not succeed, in part because the business owner did not have the entrepreneurial skills and traits needed to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Talk to other entrepreneurs in Danville. Ask them candidly what it's like to run a business.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Danville, Kentucky Demographic Information
Danville has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Danville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Danville.
Businesses
As a new Danville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Danville for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Businesses
Have You Considered Buying an Existing Danville Business?
An excellent way to get started in business is to Buy a Business in Kentucky. Follow that link and you can assess several good businesses for sale in Danville.
If you are headed down the path of buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Make Sure You Have a Business Plan
Writing a business plan is essential to the health of your new business. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan will greatly reduce your chances of business success.
To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Kentucky.
Getting the Word Out About Your New Company
Whether your goal is to attract Danville customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your succeeding.
We have some excellent resources on this site for entrepreneurs who are working on marketing plans. Avoiding Bad Product Launches discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
How to Improve Your Entrepreneurial Abilities
Successful entrepreneurs recognize that what they know now may not be enough to ensure their future success.
As an entrepreneur who lives in Danville, Kentucky, you will want to take advantage of the learning programs at local Kentucky educational institutions. It's also worthwhile to see if there are any networking organizations for Danville entrepreneurs.
Next Steps
Most new Danville businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Danville and elsewhere to achieve real success. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Danville, Kentucky
Here are more links that we believe will help you be successful in starting a business in Danville.
- Resources for Danville, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Danville entrepreneurs.
- Kentucky Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kentucky.
- Kentucky Small Business Development Center - The Kentucky Small Business Development Center (KSBDC) has been assisting Kentucky small business community for more than 25 years. KSBDC is co-sponsored by the U.S. Small Business Administration and is administered by the University of Kentucky in partnership with regional universities, community and private colleges, and the private sector.
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