 |
How to Startup
How to startup business Probably the question I get asked the most is “How can I start my own business? I really want to and I know what business I want to be in, but I have no idea HOW to actually do it.” Now you’re ready for how to startup your own business. If you’re following this website you’ve already determined what business you want to be in (click here to go to Start-up to start at the beginning) and Why you want to start your own business Why you want to start your own business. Now you’re ready for HOW you start your own business. Planning how to startup The first step to planning how to startup is to create a list of the major components of your new venture. What do you to NEED to begin your business and off the top of your head what is an approach to getting it? Let’s go back to DK Designs, the jewelry company referenced on the home page. How to startup Deanne's business? Here a quick list of what she needed to do: 1. Write a business plan 2. Get the accounting set up (taxes, incorporation, etc.) 3. Decide how much inventory she wants in her initial launch 4. Decide on the name and logo for her business 5. Determine how much money she was going to need to get going and deciding where to get the start up money from 6. Create business card, stationary, website (assuming she working from her home) 7. Plan her marketing launch 8. Create/Order her first pieces of inventory 9. Begin marketing her product This is a very quick list of what Deanne needs to do to begin her business. I would recommend you now create a very quick list of what you would need to do to get started.
How to startup? Start Small!! Because Deanne’s business manageable in scope she can see a plan to get started that is achievable. That doesn’t mean she won’t end up with a HUGE company some day, but to get started she needs to minimize risk and start small. That way she can change what she needs to change before she gets in over her head and loses TOO much money. Let’s take the example of a company you may have heard of called “Two Men and a Truck.” According to the Indianapolis Star, “When it opened in Noblesville in July 2005, the company had two trucks and six employees, who completed 10 moves in the first month. By 2007, the company was handling 249 moves in a month.” They started small with manageable lists of tasks and risks and then grew the company very quickly in a 2 ˝-year period. Just because you start small doesn’t mean that you will stay small.
Back to creating your list of how to startup
So as you try to decide how to get started create a list of the lowest risk way to start your business. Maybe that means you only work on it nights and weekends? Perhaps that means you create a small set of product prototypes and try to sell them on ebay? Maybe it means changing jobs and working for another small business in the business that you’re interested in to get some needed experience. But step one is to create the list of the MINIMUM you need to begin. Once this is created try to put a timeline on each step. Can you actually begin selling something or providing something in the next six months and if not why not?
Finally create a list of obstacles to starting Now that you have the list of what needs to be done what objections are coming into your mind? These are obstacles that need to be overcome before you can start. Don’t ignore these obstacles; instead try to work through them. What creative ways can you come up with to remove part or all of your obstacles? In my opinion, this process will determine whether or not you can ever start your own business. Running a business successfully is learning how to identify your obstacles and remove them or lessen their impact. If you can learn to overcome the obstacles to starting your business you’re well on your way to LEARNING how to remove obstacles that will prevent you from GROWING your business. Deanne’s obstacle to starting DK Designs was that because she worked full time she had no time to create her product. She removed that obstacle by quitting her job and dedicating ALL of her time to her business. In order to do that she planned for at least a year. She saved the resources necessary to quit her job and work on her own business and fully planned her business. She was able to do it. Now she has created her first line of pieces and is beginning to work on rolling out her marketing plan; all in less than three months.
Conclusion
So let’s go back to the beginning, HOW do I start my own business? 1. Quickly create a list of steps (don’t agonize over it or go into too much detail) 2. Apply a timeline to the list 3. START SMALL!!!!! 4. List the obstacles 5. Create ways to minimize or remove major obstacles 6. Begin taking steps to start your business.
Click Here to LEARN ideas for OPERATING your business
|
