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Old 09-07-05 | 12:46 PM
  #8  
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HiYoSilver
Rides again
 
Joined: Oct 2004
Posts: 3,282
Likes: 1
From: SW. Sacramento Region, aka, down river

Bikes: Giant OCR T, Trek SC

Check out SBA and business development advise.

A small business is a small business is a small business. 95% fail in first 5 years.

1. Secure adequate capital. Plan for at least 6 to 9 months of cash reserves.
2. Create a business plan and do adequate market research and business development.
3. Bikes are a maturish, non growth industry. If you're serious, go to interbike. I think it's the end of this month and get the information from those who know the industry.
4. Dual track your business plan: Path A- with ideal personnel, Path B- with non-ideal personnel.
5. Set up the business with proper legal structure. You may not want to stay/be a sole proprieter. In case you fail, you need to limit down side risk.
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