What are some tips to starting up your own small business? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.

Answer by Lucas Puente, Lead Economist, Thumbtack, on Quora:

First, every entrepreneur should know their market. When starting a new business, you should be able to clearly answer what service you are offering, what problem you are solving and who you are serving. Make sure you understand, and can communicate effectively, what qualifies you to be an expert or knowledgeable about the service you're offering. Do your research within the industry sector to understand how saturated the market is, competitor rates and lean-into differentiators (ie your comparative advantages) that make your business stand out. Outlining the value you bring, compared to other businesses in the area, will help you land new customers.

Second, every business should have a strong online presence. It's 2019 - customers expect to be able to Google you and find out about your business and most small business owners today can't solely rely on word of mouth or foot traffic to acquire an adequate number of customers. Online platforms, like Thumbtack, can help entrepreneurs promote their business, find leads and find new customers.

Third, assess your strengths and weaknesses to outsource tasks that aren't within your wheelhouse. Not every carpenter is a marketing maven and every florist might not have a minor in accounting. Focus on your skillset and find a partner or platform to help with any business management processes you're not as comfortable or experienced with.

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Published on: Jun 4, 2019