It’s a dream many of us have; to start our very own business. To get to be our own boss and enter into an industry or discipline we feel truly passionate about is a huge task, but few tasks are as rewarding. After all, fortune favors the brave and why shouldn’t you be the one to take that courageous first step to living the dream? The only problem you really face is knowing where to start, but once you have that initial knowledge of where to go and what to do, there is nothing standing in your way. This guide will provide you with that initial leg up into the world of being a successful new business owner, so you can get to on to the really important business of living your best life.
Finding the spark of inspiration
All great businesses must begin with a great idea, something unique and original that makes you stand out from the crowd. Finding the big idea can initially seem like a mysterious task, and you may think the fully formed and thought out idea will fall from the sky and onto your lap. Sadly, this won’t happen, so instead start by writing down what you are good at, what you enjoy, what you feel passionate about; compiling these lists will help streamline your thinking and clear your mind, clarifying what steps you need to take. From this firm foundation, you can then move into fleshing out your ideas and playing around with what works but, more importantly, what gets you excited.
Meet my associate
Starting a business all by yourself is an overwhelming task and, along the way, you will find there are skills you have yet to acquire that need skill and precision to make this grand plan work and get your idea on its feet. Thus, it is a great place to start by finding like-minded, ambitious people to become your business partners. Start by attending networking events or hosting interviews that can be advertised online or in the local paper to help you find someone suitable and reliable. When you find the right people, you will be a much stronger position and can get the ball rolling on this new adventure.
Getting your facts straight
So, you have your idea, and you have the beginnings of your dedicated team but where to next? The next step is to know the facts of whatever industry or discipline you wish to enter and knowing how to do meaningful market research will put you and your team in a strong position. Start by making a plan together of what you need to know, whether it be knowing what laws will impact your business or be finding a suitable unit to set up shop, all the details need to be sorted and clarified before you move forward. Delegate the jobs between your team and set deadlines for when the individual pieces of research need to be written up and submitted to you by. Not only will this mean you have a clear plan of how to go forward but you will also begin to learn how to lead your team from this task and establish yourself as the boss.
Securing the funds
All businesses need seed money to start making plans a reality. Whether you have been saving for this venture for years or only have the money from your last paycheck to get you through, everyone needs a little help with such an enormous task. The solution to this could be procuring some fast cash from a responsible lender. The upshot of securing a loan of this kind is that you can get to work right away and not have to wait around for every detail of your business plan to be scrutinized for months, which can make the excitement and energy for the project diminish.
The world wide web
Many modern businesses are all online nowadays, but whether this is the case for yours or you will have a physical base for the running of things, it is extremely important to have a strong online presence. By knowing how to get your business online means you can attract customers and clients from all over the world and get the vital information about your business venture out to the masses. Steps as simple as registering a domain name or setting up a company branded email (with an accompanying member of the team managing all correspondence) will make a world of difference to how fast your plans move and how many interested parties you can start connecting with.
Building from a strong foundation
After following the above steps, you will find yourself with a business that is slowly but surely on its way to achieving great things. When at this stage, the work doesn’t stop, and you need to begin to find ways of growing your business, so it has the possibility of fulfilling you and your partners’ ambitions, perhaps even becoming an industry leader. One way of building your business is to actually reserve and save a percentage of your profits. When things are going great, we feel as though we will never come down, but as will anything in life there will be rainy days we didn’t expect, and you need to be prepared to sail your business through whatever the choppy waters bring. Another tip to remember is that the only time you should relinquish control of your business is when you try and sell it. It is your idea, vision, and determination that have built your enterprise, and losing that to the lure of being brought out by big business as soon as you come up on their radar will mean your core values are at the risk of being lost. Stay strong in knowing your business wouldn’t be a success without the hard graft you have put in.
Starting your own company is a hard task, and at times it can feel as though giving up is the better option, but follow this advice, and you will have the strong foundations to see you through.
