South Dakota Business Startup Guides
Opening a Business in Selby, South Dakota
Contemplating starting a business in Selby, South Dakota? We walk you through the process of opening a business in Selby.
Are You Sure You Want to Do This?
Running your own business is difficult, much harder than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Grab a meal or cofee with other entrepreneurs in Selby. Ask them candidly what it's like to run a business.
- Take a look at Starting a Company. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Talk it over with a close friend or partner. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Which Business to Choose?
An important decision is what kind of business you want to start. To stir your creative juices on what kind of business to start, take a look at Business Ideas That Don't Make Sense.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Opening a Beef Jerky Business guide or our Starting a Human Resource Development Training Business guide.
Remember that your new business will be in Selby. The business you want to start may already be well-represented in Selby. Don't forget to review Selby demographics to see if there's a market for what you want to sell.
Selby, South Dakota Demographic Information
Selby has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Selby demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Selby.
Businesses
As a new Selby entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Selby 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
Naming the Company
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
As a final piece of advice, remember that because you are planning on starting a business in Selby, it's critical that you ensure that no other South Dakota company is using the business name you want to use.
Getting Money to Start a Business
Getting your Selby business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. In fact, financing your new business may be the hardest challenge you ever face.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Bank Credit Lines.
For Selby entrepreneurs with great ambition but a shortage of investment capital, browse our List of South Dakota Angel Investors and our List of South Dakota Venture Capital Firms.
How to Sell
Do you know how to sell? In order to attract customers to your new Selby business, you need to focus on sales.
The key to selling is to set sales goals goals and monitor your progress towards those goals. Fortunately, we've got plenty of good advice to help you improve your selling skills.
How to Build and Motivate a Sales Team is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Next Steps
As an entrepreneur in Selby, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Selby and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Selby, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Selby, South Dakota
Here are more links that we believe will help you be successful in starting a business in Selby.
- Resources for Selby, South Dakota Entrepreneurs - Browse a variety of resources we've collected to assist Selby entrepreneurs.
- South Dakota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in South Dakota.
- South Dakota Small Business Development Center - The South Dakota Small Business Development Center (SBDC) helps new South Dakota entrepreneurs realize their dream of business ownership and assists existing businesses in their efforts to remain competitive.
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