So, you’ve decided you want to start a small business, become self-employed or an entrepreneur of some description! Choosing your own path and destiny is important to you and you are ready to be in charge of that. Perhaps you have small children and want to create a business that you can operate around them. You know exactly what you are looking to do, or perhaps you have no idea what you should do but you know that self-employed is for you.
How do you start a small business?
Well, if you are not sure, there are opportunities such as a cleaning business or lawn and garden maintenance business. These are just two types of businesses that you can start if you have a good hard working ethic and just want to jump in.
Perhaps you have a specific skill, but don’t have an understanding of how to run that type of business and earn a living.
It is vital that you understand the basics, regardless of the type of business that you’re looking to start. The basics include:
- The financials
- Business plan
- Marketing plan
- policy and procedure
- terms and conditions
- legal representation
Sounds boring I know, but just having a simple financial budget in place for yourself personally and for your business can make you more successful. It also means that your business has a chance of being more than just a hobby, it will make you an income.
The trouble with being an entrepreneur is that we get very excited about the big picture and forget about the small details. Often it is easy to overlook whether or not anyone wants what you will be offering.
Questions to ask before starting a small business
A simple feasibility test can answer some of this and help you to decide if you are on the right track.
- What is your product or service? This needs to be very specific and detailed.
- Who will buy your product or service? Who are these clients or businesses that will buy from you, what do they look like, where are they located, what size are they etc.
- What is the benefit in buying your product or service? What is the benefit that the individual or business will receive by buying your product or service?
- How will you deliver your product or service? How will you get this product or service to the client, by person, post, storefront etc.
Nothing beats the creation of a solid business plan that you can work through and refer back to. Add to over time and give yourself a clear picture when you perhaps cannot see the full story, as you are too close.
Get advice and don’t just jump in without doing plenty of research. The more planning you do before you start spending money, the higher the chances are that you will be successful long term. Take the time to speak to a business adviser, accountant and lawyer – these are three professionals that you need on your team to take your business ahead.
If you’d like to start your own business but don’t know where to start, you’re invited to have a FREE 30-minute consultation with Kelly Robinson. Simply go to the My Sassy Business website for details.