How to Start a Business and Follow Your Dream

Owning your own business is a goal that many people dream of, but not everyone realizes this dream. In order to make your dream come true you must a plan. This plan will lay out the steps you need to make your business a success. Many small businesses fail for lack of planning and resources. Use these tips to start a business and follow your dream.

Write a Business Plan

A business plan is the first place to start. In your business plan you need to state the nature of your business, a company description, organization and management structure, marketing plans, your target audience, and a budget. Depending on your business you plan may contain more items; each one is different because each business is different and has different goals.

Get Training

The Small Business Association has free training seminars you can attend if this is your first time starting a business. Their courses cover all aspects on how to start a business. If you’ve never had any financial training you may want to consider taking accounting or bookkeeping classes. These classes will give you a deeper understanding about the financial structure of your business and how to keep accurate records.

Location is Important

If you are going to start a business and have a physical storefront you need to give location a lot of thought and research. Scout out locations in your town and talk to other business owners in the area. Ask them about the traffic flow, if the area is safe, and if they would rebuild there again. Enlist the services of a commercial real estate agent. They will help you navigate the complicated process of purchasing commercial property, or find the perfect location for building your storefront.

Research Financing Options

You have several options to explore when you start a business. The Small Business Association offers loans at competitive rates, and they have several types of loans and loan structures set up to help people start a small business. Banks are an obvious choice, but you may want to explore venture capital, personal loans, and grants.

Obtain the Proper Licenses

In order to do business you will need to register your business’ name with your state. This is known as “doing business as” or DBA license. You must get a tax identification number from the IRS, and register for any state or local taxes. You will also need to get any local and state business license and permits.

Hire Your Crew

As an employer you have certain legal responsibilities to your employees and to the government. Contact OSHA to find out the safety concerns pertinent to your business, and get an employer identification number so that you can file taxes. Don’t forget to deal with the three types of withholding taxes; federal, state, and social security. Keep excellent records so that when it comes time to file your quarterly taxes you will be ready.

It may not sound easy to start a business, but if you have a passion and want to see it become a successful business it will take planning and organization. Use these tips to get started and build a business you can be proud of.

Launching A Start-Up Business – When You Should Vs Shouldn’t

Launching a Startup – When You Should vs When You Shouldn’t

Starting a business and making the decision to move from being an employee to being an entrepreneur is one of those things that is often painted in an unrealistically rosy picture. Sure, if you’re successful at it, there’s nothing better than being your own boss, doing something you love, and making a comfortable living doing it. But what does getting there actually entail?

This is one in a series of posts aimed at helping “would-be” entrepreneurs get out of the gate and on the road towards establishing a running business of their own.

Why take the risk of launching your own business venture?

There are plenty of great reasons for launching your own start-up. These include:

  • The opportunity to be in control and do the things you want to do: you get to succeed or fail on your own
  • Not having anyone tell you what to do: you are your own boss
  • The opportunity to create something new: the ability to bring something totally new into existence without the constraints often faced by larger companies
  • The opportunity to impact the world: to develop a new way to communicate, a new way to cut costs, a new way to collaborate, or anything else to make the world a better place
  • Money: when things go right, there can be a lot of money in successful start-ups

These are some of the more fundamental reasons for starting a start-up.

The downside to launching your own business

There are just about as many, if not more, reasons not to start a start-up.

  • They can be emotionally draining: from exuberant highs to depressing lows, start-ups can constantly put you through an emotional rollercoaster
  • Nothing happens unless you make it happen: in established companies, everything happens according to a fixed set of operational procedures, but in a start-up, you have to do virtually everything yourself
  • You are constantly told “NO”: unless you come from a sales background, you are probably not used to being told “NO” all the time, and it isn’t very fun
  • Hiring is extremely difficult: you are constantly faced with casual shoppers, folks who aren’t as serious or passionate about your idea as you are, and you end up being taken for a ride before being told “NO”
  • The hours can be grueling: despite books, articles and workshops promoting the perfect work/life balance, as a start-up entrepreneur, it isn’t likely you will have much of a life outside running your business, at least in the beginning

Still ready to take the plunge?

OK, so I haven’t talked you out of your conviction that starting your own business is what you want to do. Alright, fair enough. It seems you are convinced that it’s the way to go. If you think you’re ready, great! There is no time like the present, and opportunities abound for those who unwaveringly want to see things through. If you want to get your business up and running, here are a few things you to help get you started:

  • What is your business idea?
  • What will you name your business, product or service?
  • How will you go about building a team?
  • How will you build an organization with a thriving work culture?
  • How will you market yourself?
  • How does your team communicate, and how will you establish your online presence?
  • How do you test your idea and collect valuable customer feedback?
  • How can you raise funds, or like-minded business collaborators?

In the next series of upcoming posts, we’ll go through all of the above points in turn to give you a better grasp of what you need to do, and how to do it, in order to successfully get your own business off the ground and go from being an employee to being a business owner.

How to Start a Business – The First Steps in Starting a Business

The internet has made starting a business from the comfort of your own home more possible now than ever before. Although there is nothing easy about being an entrepreneur, it is common knowledge that the outcome of starting a venture is very rewarding. The most difficult part is actually getting started. Some people have business ideas that never leave their notebook. Others just want to own a business but don’t know where to start. Here are some steps to take in your early planning stages.

1. What are you good at? Not referring to what you would like to do but what are you good at now? Do people like your pumpkin pie? Are you a really great accountant? Do you have team building skills that are out of this world? Sometimes we take our own talents for granted because we use them everyday. However, talents can turn into marketable skills that people will pay for.

2. How do you intend to fund your business? Nothing in the world is free. It takes money to make money. Starting a business will need investing. Don’t let having a small amount of capital or not having any capital at all stop you from moving forward. You will invest lots of time when there is not that much money. Having large amount of money to invest still requires time in due diligence to make sure you are hiring the right team to get the job done.

3. Dead set on becoming an entrepreneur but don’t think you’re good enough at anything? Everyone has a skill set, you just haven’t identified yours yet. Think about things that you like and consider start a home based business that offers these things. Home based businesses, also known as direct sales or network marketing, link personal development and growth directly with success. With a small investment, usually less than $500, you can have a ready-made business and become profitable in days. The hugely successful in direct sales usually venture off and start businesses of their own after discovering their hidden talents, learned how to run a business, and now have earned enough money to invest in themselves. Direct sales is a great place to start.

Becoming an entrepreneur is not a journey for the faint at heart. It all starts with an idea, just like anything else. Figure out what your skill set is and focus on turning something that you’re good at into a business. Decide how you can invest into your business. Be it time or money, you will have to invest something. If you do not think you have any business ideas, start with a network marketing company to jump-start your business juices.

How To Start A Business And You Really Make Money In Your Own Business

Don’t let all the difficulties in running a business stop you from starting your business.

Don’t even let those who have failed in their businesses discourage you from making money and succeed in the business world.

Let this article be a great encouragement to you at this moment, it doesn’t matter whether you are now thinking of starting a business, in the process of starting your business or you are already in your own business.

Though it is not that easy to start a business, because there are so many things you need to do before you can really make money and succeed in business.

However, I sincerely believe you will make money and succeed when you are running your own business.

It is because I also believe the moment you decided to start your own business, you already have a very strong determination to succeed in the business world.

The most important thing you need to do now is – read this article seriously many times to make sure you really do one very important thing – a good preparation before you start running your business.

The first thing is to make sure you are truly well-prepared and you really know how to make money and succeed in this intense competitive world market.

The second thing is to make sure you are very confident in running your business and you truly know how to prevent earlier failure in business that is so common in the business world.

Moreover, any moment you feel discouraged when you are running your business, always remember to come back and read this article, it will inspire you and help you regain your self-confident, you will move on confidently until you really make money and succeed in your own business.

Here are the Three Important Steps that I believe they will help you tremendously when you are doing your preparation before you start running your business.

Step One: Preparation

1. Business documentation, accounting and taxes

Get a professional accountant to help you in business documentation, accounting and taxes. It will save you time and effort, so that you can immediately focus on business development to bring in profits into your new business.

2. Focus on one business at a time and make it a great success

Don’t be a jack of all trades, starting many businesses before you really make money and succeed in your first business. You can start another business if you want when you really make money and succeed in your first business.

3. Do your market research before you start your business.

Don’t simply start a business just because you think your new product or services can make money in this world market. Seriously put in your time and effort in doing your market research and know precisely whether there is a potential for you to really make money with your new product or services.

4. Get your success master plan ready

Write down your business vision in your success master plan and put in more details on how you want to succeed in business. Read your success master plan regularly and know your daily progress until you really make money and succeed as what you have written in your success master plan.

5. Learn and be a master in selling and marketing

Don’t start a business until you really know how to sell and market your business ideas, your products or services. Selling and marketing are the two main business activities that will bring in profits into your business.

You have to sell your business ideas, products or services to those who joined you and they are helping you in your business – your sales personals, your distributors and traders. You also have to train them and guide them in the selling and marketing of your business ideas, products and services to the consumers and businesses.

6. Create an effective business system

It will minimise your daily work pressure and stress in running the business. It will also make sure the business work flow is always stable and consistent and you truly give the best standard of services to the consumers. You may also franchise your business to expand your business market.

Make sure everyone in your business organization seriously follow your business system and they truly understand the benefits for them when they follow the system, whether it is a simple checklist or work flow chart and monitoring system. New employee will easily take over the work should someone suddenly leaves your organization. Keep on improving your system to meet the growing demand of the consumers as your business grow and expand in the market.

7. Keep a business capital reserve in your new business

It does not matter how much business capital you have raised for your new business, but keep a capital reserve for two years’ business fixed expenses, because you may not make a profit in the first two years. This will enable you to focus on business development without financial worry until you really make a profit in the business.

8. Always be a major shareholder in your own business

Remember to keep at least 60% of your business shares and always be a major shareholder in your own business. Don’t oversell your business shares in the market if you are using your business shares as an exchange for raising your business capital. Otherwise, even though you are the founder of the business but you will easily lose your post as the CEO – Chief Executive Officer in your own business.

9. Maintain a good physical health condition

Daily exercise, having a good sleep every night and eating a balance diet everyday to make sure your physical health is always in good condition. You will then able to focus on your daily business activity, leading a team of people to really make money and succeed in this intense competitive world market.

Step Two: Start Running Your Business

1. Understand the grand purpose of your emotional feeling

You must truly understand the grand purpose of your emotional feeling and “why it is so important” you must always feel good and happy when you are running your business, so that you know precisely how to allow your wonderful emotional feeling to guide you prevent earlier failure in business and how to really make money and succeed in this competitive world market.

2. Become a great leader in your own business

The moment you decided to start a business, you are already a leader in your own business. As long as you are willing to learn and improve your leadership, you will truly become a great leader, unite and lead your team of people achieving your vision in your own business.

3. Focus on sales and marketing of business ideas, products and services

Your goal in business is to make profit and without making a good profit, very soon you will be out of business. Therefore, you must focus on sales and marketing that will bring in profits into your business.

4. Keep a healthy cash flow in your bank account

Without keeping a healthy cash flow in your bank account, it will also lead you to business failure. Always consult your accountant to make sure you wisely control your business expenses, so that you will never have to face with cash flow problem in business.

5. Create products or services that are truly great and remarkable

Make sure you create products or services that are truly great in solving the consumers’ problems. You must also make sure there is quality consistency in your products or services before you deliver them to the consumers.

6. Do not sell inferior quality products and services to consumers

If you are selling other people’s products and services, make sure you sell products and services that are truly great and remarkable. Inferior products and services will bring more problems and inconvenience to consumers and ruin all your efforts in building the business, and it can also bring you to earlier business failure.

7. Provide excellent services to consumers

Always give the world’s best services to the consumers. Make sure they really feel good and happy when they are buying your products or services and they truly enjoy a long-term good experience in using your products or services. The consumers will be very happy to recommend your products or services to potential customers.

8. Do not expand your business too fast

Seriously put in your time and effort to grow your new business. Make sure your business is stable and really make profits before you think of expanding your business in this world market.

9. Helping the world economic climate to improve

When you are in business, you are also here to help those who are starting their own business and those who are already in business to succeed in business. The easiest way to do it is encourage them to read this article. When many businesses in the world succeed, the world economic climate will improve. Consumers and businesses in the market will have more money to buy your products or services. Your own business will also easily succeed and flourish in this world market.

Step Three: Don’t Give-Up Until You Really Make Money And Succeed

1. Do not afraid of intense market competition

Intense market competition is always good for you and all business people. It is here to stimulate your powerful mind to think and you will then come out with new business idea, new marketing strategy, new product or new form of services to compete with others in this world market. Intense market competition is here helping the growth of businesses and the economic growth of this wonderful world you live, it is truly the wonders of the business world.

2.You must not afraid if your business suddenly turn bad

In every unpleasant situation that is happening in your business, there is always a great benefit for you – it is forcing you to make the necessary changes and you will see an impressive improvement in the way you run your business.

3. Have a strong determination to succeed in business

It is truly your determination to succeed that will help you go through all the troubles in business. It is also truly your strong determination to succeed that will make sure you will not easily give-up until you really make money and succeed in your own business.

Conclusion:

1. Read this article seriously many times until you really do a good preparation before you start running your business. Whenever you feel discouraged when are running your business, always remember to come back and read this article, it will truly inspire you to move on until you really succeed in business.

2. You must truly understand the grand purpose of your emotional feeling and know precisely “why it is so important” you must always feel good and happy when you are running your business, so that you know how to allow your wonderful emotional feeling to guide you really make money and succeed in your own business.

3. Sincerely share this article with as many business people as you can to help them succeed in business. When many businesses in the world succeed, the world economic climate will improve, your business will also easily succeed in this world market. Isn’t it wonderful in the world of business?