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Five steps to startup success

Starting your own business fresh out of the corporate world? David Paradise of the Family Business Resource Center offers these five steps to startup success:

1. Hold a series of meetings with yourself. Sit down with a pencil and paper and list your strengths and weaknesses.
2. Identify people who can help you: relatives, friends, others in the industry you're going into. Then contact them, collect information and take notes.
3. Use your notes to plot your next steps.
4. Write up a business plan, including projected income and budget.
5. Call on a business consultant for help with business, organizational, personal or psychological problems. These professionals can act as a coach to keep you on course to success.

Jay MacDonald is a contributing editor based in Mississippi.

-- Updated: March 23, 2004

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