How Much Money Can You Make by Starting a Handyman Business?
Starting a handyman business can be a profitable venture. The earning potential depends on location, experience, and the range of services
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Your Startup
SIDEKICK
Beat the Odds, Build Success
According to the US Department of Labor, approximately 20% of small businesses fail in the first year, 50% in the first five years, and 65% in the first 10 years.
5 common reasons why small businesses fail:
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Cash flow problems
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Lack of a strategic plan
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Inadequate market research
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Poor financial management and
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Failure to adapt to market changes
Crucial steps to building a sustainable business:
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Create a solid plan
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Manage finances wisely
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Understand market needs and
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Remain flexible in the face of changes
My goal is to provide the expert guidance and resources you need.
Your Startup ToolKit
Where Do You Start?
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Essential Topics covers general information all startup owners need, regardless of their business type.
This section, provides in-depth articles that cater to those looking to start specific business types.
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If you're a small business owner looking to start and grow, "Your Startup Sidekick" is your go-to resource. Here’s why you should follow along:
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Simplified content that breaks down complex business topics into bite-sized, digestible insights.
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"Your Startup Sidekick"!
Your Startup Success is My Mission
I know firsthand the challenges of starting and growing a business because I've been there myself. I've been involved with two startups, one in the medical equipment field and the other in computer peripherals.
I created Your Startup Sidekick as your go-to resource for practical, actionable business advice. Whether you're just starting or looking to scale, I aim to simplify the complex world of entrepreneurship and help you make informed decisions.
I offer insightful articles and tips on everything from starting your business to cash flow management and marketing strategies.
I deliver this through easy-to-understand language, relatable examples, and clear, step-by-step instructions.
I help you by removing the guesswork from starting and running a business; I help you focus on what matters most - growing your dream.
Over the last five-plus years, I have mentored over 100 clients in diverse industries, from retail and manufacturing to real estate and food services.
As a member of Minneapolis Business Mentors and SCORE Minneapolis, I've seen countless entrepreneurs transform their businesses with the right guidance.
I believe in making business advice accessible and enjoyable for everyone.
Dennis Bingham
Frequently Asked Questions
1. What are the first steps to starting a business?
To start a small business, begin by researching your market and validating your business idea. Next, create a solid business plan outlining your goals, target audience, and financial projections. Register your business legally, obtain any necessary licenses and permits, and set up a business bank account. Finally, focus on marketing and launching your product or service.
2. How much money do I need to start a small business?
The cost to start a small business varies widely depending on the type of business, location, and industry. Some businesses, like online consulting, may require minimal startup costs, while others, like brick-and-mortar stores, may need significant investment. Generally, it’s essential to calculate all expected expenses, including equipment, inventory, marketing, and operational costs, and have enough capital to cover at least six months of expenses.
3. Do I need a business plan, and how do I create one?
Yes, having a business plan is crucial for success. A business plan helps outline your business goals, target market, competition, pricing strategy, and financial projections. To create one, start with an executive summary, describe your business, market analysis, and organizational structure, and detail your product or service offerings, marketing plan, and financial plan.
4. What legal requirements do I have to fullfil to start a business?
Legal requirements vary by location and industry but typically include registering your business name, obtaining an Employer Identification Number (EIN) from the IRS, securing the necessary licenses or permits, and complying with local zoning laws. It’s also essential to understand your tax obligations and choose the proper business structure (e.g., sole proprietorship, LLC, corporation) for your needs.
5. How can I attract customers to my new business?
To attract customers, start by identifying your target audience and understanding their needs and pain points. Develop a strong marketing plan that includes a mix of digital marketing (e.g., social media, content marketing, email marketing) and traditional methods (e.g., networking, print advertising). Offering exceptional customer service, creating a compelling brand, and utilizing word-of-mouth referrals are also powerful ways to build a loyal customer base.
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