Step One: Startup, whether you are considering a full time, or part-time business, you must answer the question: Why do you want to start a business?
If you answer for money, you’d better think again about starting a business. There is no way to make money overnight, or even in the first few months of running a business.
It takes money to make money. The business income goes back into the business to help it grow into a successful business, not in your pocket.
Running a business is not a hobby; it is hard work, and possibly long hours, not to mention sacrifice. Sacrifice in the fact the running a business means that you have to spend time working on and in your business, so what are you willing to give up in building your business?
Answer the question of why you what to start a business truthfully. Is it because you feel that you have a better service or product than another company, are you passionate about something you think you can turn into a business, what makes you special over someone else. This is what it takes because you are competing against other and possible more established companies.
What are you going to call your business, do you need licenses, what about business liability insurance, is you running your business out of your home, or brick and mortar storefront, what about a DBA, LLC, S Corporation, C Corporation, which is right for your business.
How will you pay for this?
The above is a business plan. A business plan is all about the business along with the goals of the business.
Step Two: Marketing, an extension of the business is how you plan on marketing and branding your business.
What is your plan, do you have a plan to market your business. What marketing channels are you planning to use in marketing your business?
There are many ways to market a business. What is your plan to track ROI as to what channel works best? How will you finance your marketing?
Without clientele, you have no business, only a money-draining hobby, and you become a wana-preneur, not an entrepreneur.
Get your ducks in a row before you think about starting up a business.
Freelance Writer, Blogger, Editor, Proofreader, and Reviewer learning Marketing
Follow the author: http://xeeme.com/RobertMedak
- 10 Reality Checks to Verify Your Entrepreneur Fit (alleywatch.com)
- 101 Questions You Must Ask Before You Start Your Business by Philip A. Grisolia, CBC (readerviewsarchives.wordpress.com)
- 3 Most Important Things You Should Know Before You Start a Business (smartasset.com)