Kentucky Business Startup Guides
Opening a Business in Somerset, Kentucky
Contemplating starting a business in Somerset, Kentucky? We walk you through the process of opening a business in Somerset.
Will You Be a Good Entrepreneur?
Most startup companies fail, in part because the entrepreneur did not have the tenacity and/or the skills to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
Before you move forward with starting a business, be sure to do these three things:
- Talk to other entrepreneurs in Somerset. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. Others sometimes know you better than you know yourself.
Somerset, Kentucky Demographic Information
Somerset has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Somerset demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Somerset.
Businesses
As a new Somerset entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Somerset 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 Somerset Business?
If you have some capital to play with, you may want to Buy a Business in Kentucky. Follow that link and you may find several good businesses for sale in Somerset.
If you are intent on buying a business, you may want to read this article: Buying a Business.
Don't Skip the Business Plan
Writing a business plan is essential to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Not having 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 free counseling sessions provided by your local SCORE chapter in Kentucky.
Promoting Your New Company
To rise above the crowd in Somerset and grow your business, you need a excellent marketing plan.
You can learn plenty about marketing on our site. Technology Marketing 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.
The Art of Selling
Mastering the art of selling is essential if you want your new Somerset business to do well.
Good selling involves demonstrating that your wares meet your customer's needs. The good news is we can help you to make selling a big competitve advantage for your new firm.
Mastering the Complex Sale offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
What's Next?
Most new Somerset businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Somerset and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Somerset entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Somerset, Kentucky
Here are more links that we believe will help you be successful in starting a business in Somerset.
- Resources for Somerset, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Somerset 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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