If you’ve dreamed about owning a business of your own whether it’s running a bed and breakfast or launching an edgy fashion line it can be a financial and emotional disaster if you don’t take the right steps. Now is really a great time for startups, obviously a lot of people are out of work, they are having a tough time finding a job and 9 times out of 10 many people have had thoughts and ideas for a business. We have put together some tips to help you have a successful startup.
Imagine – Think about all the possibilities, you want to start with something that you are not just passionate about but also passionate about making the business work. You must be committed to growing your business, think about how it fits into your life. Be open to opportunities, take your idea and think about it in every way possible, could it become a website or a brick and mortar, that way when opportunity comes knocking you’re ready for it.
Research – Part of your research should be finding a mentor, Score.org is a great place to get small business advice. Also start local, go to your local chamber of commerce and community colleges, you want to talk to people and get feedback. Network with other business owners to get tips and advice
Planning – You of course need a business plan, there are a lot of free business planning help online. Your plan must include your strategies, sales and marketing, and your day to day costs. Also factor in what you’re going to pay yourself.
Financing – Most small business owners get money from friends and family, you will not get much success from venture capitalists. There are a lot of micro financing and funding for small businesses from the SBA.