(866) 480-2611

How to Turn Your Idea Into a Real Business

Have you ever wished that you could turn your hobby into a job or a great idea into something that could make you a lot of money? If that sounds like you, it may be possible to turn an idea into a profitable and thriving business. How would you go about doing this?

Is Anyone Else Already Doing What You Want to Do?

While you may think that you have a rare idea that no one has thought of before, it may not be as rare or unique as you think. Make sure that you do market research to determine who your competition may be. If somebody already is offering what you want to offer, look at what they are doing and how they are doing it. Could you offer your product at a lower price, offer a higher quality product or market it to households instead of just businesses?

Who Is Your Target Market?

Who are you going to sell your product or service to? Determining your target market will also help you determine how your product or service is designed, marketed and sold. For example, if you wanted to provide a tutoring service for at-risk youths, you may decide to reach out to schools or nonprofit groups to become your customers or to help with fundraising.

How Will You Fund the Business?

No business is going to be able to survive without funding. Figure out as soon as possible how much money you will need and how to get it. Possible sources of initial funding include your retirement savings, loans from friends or family members or personal lines of credit that will be used to fund the business. It is also a good idea to know early on where you can go if you need to raise more money in the future.

Determine Your Business Structure and Get All Necessary Permits

If you are running a small business on your own, it may be a good idea to operate as a sole proprietor. Those who are running a business that wants to attract shareholding funding, is profitable or has a number of employees may want to operate as a corporation. You can talk to an accountant or a lawyer to determine the best business structure for your company as well as which permits you may need to operate legally in your city or state.

Turning a great idea into a profitable idea is a long process that needs to be completed before your business opens. You need to make sure that you will have enough customers, have enough funding and have done enough research to ensure that your company will be a success.

Nurturing Business, Cultivating Hope

GET STARTED
Putting Our Clients First Since 2008.
Become A Partner
Partner with us to reach potential merchants using our patented technology on the Advance Funds Network platform.
464 Kings Highway Brooklyn, NY 11223
1633 Rt 35N Unit 4 Oakhurst, NJ 07755
2031 Harrison St, Hollywood, FL 33020
5858 Dryden Place Carlsbad, CA 92008 Suite 238
2967 Dundas St. W. #220D Toronto, ON M6P 1Z2
(866) 480-2611
sales@afnllc.com
Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
USA
Canada
Coming
Soon
Coming
Soon
© Advance Funds Network 2023. All rights reserved.
crossmenuchevron-down