How to Start or Set Up Your Small Business for Success

Sponsored by JPMorgan Chase For many, owning a business is a symbol of the American dream. It can be exciting to imagine becoming your own boss, working for yourself and offering employment to others – all helping build financial security for your family and community. Building a successful business requires a solid plan and lots of help along the way, however, and many budding entrepreneurs soon discover that having a great idea is just the beginning of their small business journey. Mikal Quarles, head of community business strategies for Chase Business Banking, shares tips for setting up a small business, what to do, what not to do, and what to watch out for when starting your entrepreneurship journey. Before even starting your small business, what are the top considerations for aspiring entrepreneurs? Entrepreneurs run the gamut from someone with a side gig, to someone jumping into the deep end with a business acquisition. Here are a few things that I feel apply to any entrepreneur: Passion does not convert to currency but value does. Make sure to confirm there is a demand for what you are interested in doing and a need that hasn’t been met. Everyone doesn’t want to...