As a woman who has started three businesses, I have a lot of experience on what to do and not to do. I have made a lot of mistakes, but I have learned from each mistake. Do you have an idea and just don’t know where to start? Let me help you!
Here are my top 10 Steps to Start Your Own Business:
1. Develop An Idea
Whether your idea is a cleaning business, selling vegetables at a farm stand, selling eggs, becoming a real estate agent or writing a book: think about what you are really good at and concentrate on what makes you happy. Start a business that you will love doing each day.
2. Research Your Market
Find out who is in the market for your idea. If you plan on selling pillow covers, who will your ideal clients be? Find out how many clients you can reasonably sell your products or services to.
3. Write A Mission Statement
Do not confuse this with branding. In order to stay focused on who your company (even if it’s just you!), write down your mission statement and follow it. A mission statement is a statement of the purpose of a company, organization or person; its reason for existing; a written declaration of an organization’s core purpose and focus that normally remains unchanged over time. Your mission statement should read something like this:
One Step Woman is blog to inspire women to put value in her life by sharing ideas, knowledge and experience so that she can reach the best potential and happiness for her own life.
4. Figure Out A Business Plan
Even if numbers aren’t your strong point, it is important to write a business plan. Know your product and know who your clients are so that you know how much money you can make with your idea. There are many business templates available. Find a simple template and see if your numbers work.
5. Establish A Budget
In my opinion this is the number one reason business succeed or fail. You must have a written budget for your home and your business. Write down how much it will cost to purchase your chickens, feed them, get a business license, health permits, packaging, etc.
6. Get Advice From A Mentor
I am not talking about your sister in law who just has an opinion, but from someone who has ran their own business successfully. Take this person to lunch, ask questions without interfering in their business. Give them something of value for them being your mentor.
7. Name Your Business
This is the fun part. Make sure your name reflects the product. Our business name is Schultz Property Inspections. You got it…we do property inspections. Make it catchy so people will remember the name. Also check your Secretary of State website to ensure the name you want to use isn’t already registered. Google the name as well to see if someone else is using the name so that you can avoid any potential legal problems.
8. Brand Your Business
What are your colors? Do you have a logo? Does your name, colors and logo all reflect the attitude of your business?
9. Secure Your Permits & Licenses
ALWAYS check with your local city hall to get the complete requirements to operate your business. Seek the advice of an accountant for tax purposes. Do not skimp on legalities. Its not worth getting fined because you did not start your business up correctly.
10. Enjoy The Ride!
There are so many more tips and lessons for opening your own business for you to learn. Most importantly, the feeling of success after you start making money doing what you love is totally worth it!
I am in the process of writing a detailed E-Course on How to Start Your Business. My target date is June 1 2017. I want to give you all the information I have learned to start three successful businesses. I know you can do it!