Tips to Starting your Own Busniess
The 9-to-5 grind can make you feel like a just another cog in the corporate machine, constantly punching the clock for someone else's vision. One day, while dreaming of the world outside the cubicle, you have your big "Eureka!" moment-you've come across an idea so perfect that you need to start your own business around it.
Coming up with the idea is the easy part. Now, you're thrown into an entrepreneurial world where even the experience businessperson can feel overwhelmed by all the details.
It's hard to know where to even begin. So here are some tips to starting your own business:
- Craft a primitive budget: do you have enough capital to get this idea rolling? First things first, figure out roughly how much it'll cost you including all expenses, and where that money will be coming from. Call in favors from everyone you've even leant money to in the past in need be.
- Does the business world need you?: is there a large enough demand for your product? Ask around before even attempting to start your business-check with similar businesses in the area, or around the country. Find out how they started, and what kinds of clients they target, to get an idea of where you'll fit in the market.
- Create a strong management team: your team members should share your vision of the business, and a certain amount of proficiency and credibility. Rely on your connections to find the perfect people for the jobs that will bring their expertise to the business. Remember that you will eventually have to set aside your ego and let them control certain aspects of the company, so your have to feel comfortable around your management team.
- Start small: instead of immediately trying to market your product to 5,000 companies at once, focus on a few dozen specialized local companies to network with. This way you can call them each personally, mail them your marketing materials, and then arrange a meeting.
- Quality matters: you want to be able to set your self apart from all the other businesses similar to yours. Having an eye-catching yet simple to navigate web site and presentation material is key to succeeding in the modern business world. Creating quality marketing tools doesn't have to cost you a fortune either; consider hiring a design art or marketing student from a nearby university to help out. You never know, you could even meet your next Junior Executive.
- Come up with a good business plan: keep it less than 25 pages, and include information about your management team, who your customers as, and most importantly, why the world needs your business. At this stage in the game, don't over-focus on the financial side of things yet. A business plan outline can be found at www.sba.gov/starting_business/planning/basic.html">http://www.sba.gov/starting_business/planning/basic.html.
For more tips, including an A-to-Z guide to starting your own business, and 21 ways to draw customers in, go to www.entrepreneur.com">www.entrepreneur.com.
Jessica Klein is a member of the 'Mount Real Research Team', whose aim is to seek out and distribute business information to the virtual public. She is a freelance writer based in Montreal, Canada who loves writing about anything from accounting to zebras.
For more info about Mount Real, visit www.mountreal.com">http://www.mountreal.com.
Seven Steps to Achieving Your Dream
"Vision is the spectacular that inspires us to carry out the mundane." -- Chris WidenerCan achievement be broken down into steps? Well, it isn't always that clean and easy, but I do know that those who achieve great things usually go through much of the same process, with many of the items listed below as part of that process.
The Top 10 Reasons Businesses Succeed
Only one of every 5 businesses makes it to its 5th year, and fewer still make it to 10 years. What do the successful businesses have in common?1.
Event Planning: Seven Best Practices Successful Planners Use
Do you plan events for the corporate world like product launches, conferences, seminars, etc? If so, check out these seven practices of successful event planners.It's easy to dismiss these points thinking they're trivial.
5 Things You Must Do Well When Buying a Business to Not Get Burned
Are you not sure what Business to buy? Need to know what is a fair deal?Martin Smith thought he was buying an established business with good credit and collectable accounts receivable. The day after settlement the surprises began.
The Warning signs of Online Fraud and How To Avoid It
The number may seem grim for Web-based commerce. In 2004 in the Unites States alone, computer users logged in more than 207,000 Internet fraud reports to the U.
Checklist for Hiring a Private Investigator
Looking for an old friend? Want to know if your spouse is cheating? Need to check out a potential tenant or employee?A good private investigator (PI) can help you obtain these answers. And as with any expert you hire-a doctor, a lawyer, an insurance broker-it benefits you to take the time to ensure you're hiring a professional who has experience, quality reputation, and good-business ethics.
1 Step Program to Achieve All of Your Goals
In Jack Canfield and Mark Victor Hansen's original "Chicken Soup for the Soul," I am reminded of the short story titled "Another Check Mark On the List." This is a story about a 15-year-old boy named John who, on one rainy day, when it was too wet outside to play, he decided to write a list of goals.
I WANT IT NOW - 10 Tips for Freight & Drayage at Trade Shows
Gas prices continue to go through the roof and increased
transportation costs will increase trade show costs across
the board.Here are 10 Tips for saving time, money and your sanity.
7 Steps Toward a Better Website
Creating a website is one thing, making it better is another. Matt shares 7 steps to help you gain a better website.
10 Steps for Simplifying Business Plan Financial Statements
For most business owners and entrepreneurs, preparing, and communicating the financial statement section of a business plan is like trying to give driving directions to someone who doesn't speak the same language."Numbers" is the language most investors speak.
How To Make Money With Your Junk Mail
The term "junk mail" is a well-known term. To the common guy or gal on the street, "junk mail" to them is advertising flyers from the local grocery store and pizza shop that arrive in their mail every day.
Top Seven Questions for Starting Projects More Effectively
We all are project managers. Some of us manage projects like vacations or reunions, while others run implementations of new software systems, consolidation divisions of companies, launch new products, or build buildings.
The Hidden Power Of Understanding: A Secret To Building Massive Momentum In Your Business
You're busy with your business today, aren't you?You're pushing your mind and body to the limit just about everyday to handle all the activities that need to be done. But something's missing.
Top 10 Ways Websites Makes Me Suffer
I believe some people create and publish websites for the sole purpose of tormenting their visitors. Browsing various websites and navigating the Web can often be like trying to read on an airplane while a kid kicks the back of your seat and the baby next to you alternates between screaming, crying and drooling on you.
Increase Exposure, and Profits With Powerful Memorable Business Cards Using These Ten Strategies
Your business card is a valuable piece of real estate and a powerful tool for making a connection and starting a relationship that can show your potential clients the valuable solutions you can offer them.1.
Ten Top Performance Management Tips
Talk to Your People Often
By building a great relationship with your people you will bring trust, honesty and information. This gives you a head start in Performance Management of your people.
Shaking Your Money Tree: Seven Ways to Make Quick Cash
Does your business have a money tree you can shake when a little extra cash is needed? Every business should have one!What I mean by a money tree is something you can do to quickly generate revenue when you need it. Where can you find a money tree? Although you can't buy one at your local garden store, they are more common than you might imagine.
11 Things Small Business Owners Can Learn From Michael Dell
1. Think Big - In college, Michael Dell said he wanted to "beat IBM.
Top Ten Tips for Participating in Online Business Expos
Are you ready for a BASH? Have you ever been a vendor or exhibitor at an expo, craft show or other offline event? Well, when you are a participant in an online bash or online expo - many of the same expo tips apply. Here are the Top Ten essential business expo tips for online events.
Seven Ways to Improve Your Results with Follow-up
What follows is a bold statement, but sometimes it takes a bold statement to get people's attention.One of the most important and yet overlooked skills in business today is follow-up.