Start a Business
Many people ask me about running a small or medium sized business. They want to know the secrets and the tips and tricks of making a successful business. I have a lot of knowledge about running a business, and so I’ve put together a lot of resources to help the small business owner to get ahead, make the right decisions and move forward.
Starting a Business is Easy !!!
Any fool can start a business, right? You just need to file some paperwork with the city, the state, and the federal government. Its’t not that hard to get started, but once you get started what are the next steps that will determine your success or failure as a business owner. I firmly believe that the setting up of the initial structure of the business has a lot to do with the success of the business,
Becoming a Success is Hard
Starting a business is the easy part. As we mentioned above it takes a few simple forms to get you off the ground to having a sole proprietorship, a partnership, an LLC, or a Corporation, or an S-Corporation. Really, it’s just forms and paperwork to get the business started. I’ve personally created thousands of businesses, in my previous internet company. Most of these weren’t my business , obviously, but I’ve got experience with the paperwork.
Maintaining a Successful Business takes Dedication and Smarts
Can you make it to the level of running a business for many years? I think that many people can run a business, with a little planning, a lot of dedication, and some more planning, and a ton more dedication. In my opinion, a successful business is bred out of hard work. It’s not easy to find success, and when you catch it by the reins, you have to find a way to keep it going, and to keep reinventing the wheel, and keeping your business active, stable, and hopefully growing.
While many people can run a business, there are a number of hurdles that a person must be comfortable with before they are able to start the journey of being a business owner. You must have your first customer lined up. Don’t think about starting a business if you don’t know where your first customer is coming from, or better yet, make sure that your first project is already lined up or under way. The first customer will do many things for your business, and many things that will give you the confidence that you can do it and make it as a business owner. The other and highly important thing that the first customer will do for you…is to provide your first source of revenue. That is an essential word for your business…revenue.
In this page, we’ll go over some of the important considerations when starting a business and some definite pitfalls that you’ll have to avoid or steer clear of. The following is a list of things that you should know before starting a business:
- Know your customers like you know yourself.
- Have your first customer in the bag.
- Know how you will obtain a growling base of customers.
- Understand and begin implementing an online & traditional marketing strategy.
- Understand your niche and where you fit into it.
- Understand your target market and how you can sell within it.
- Research the pricing of your competitors.
- How can you differentiate?
- How will you add value to your customer base, your target market, your niche, and add value to your brand?
- Can you legally provide the product or service that you want to offer?
This is not an exhaustive list, instead just a few of the major points to think about as you move towards starting a business. In my opinion….Most everybody should start a small business, yes everybody. Or at least you should think about creating a small business. I would argue that Kim Kardashian has a small business, and a business that is her mostly managing her brand. She doesn’t manufacture, or run a factory, or have physical stores. I doubt she manages employees, or does much in the way or accounting, selling, etc. But she has a LUCRATIVE business non the less. This is undeniable.
So, what is Kim K’s small business? She sells her image, or chooses to license her brand to third party companies who use her image or likeness in products. So easy right? I know that many of you are saying, that you can’t be Kim Kardashian…and I say WHY NOT? Remember guys, in other areas of this website we talk about a number of thinks regarding having a positive image and limiting negative self talk. As an entrepreneur or a small business owner, you will need to challenge yourself and reach outside of your comfort zone and expand your knowledge and skillset. With that said….you’re right that you cannot probably be Kim K., or Kanye for that matter. Even though we have to limit our negative self talk we have to be realistic in our expectations, dreams and goals for any business that we decide to get involved in. For most of us, if we start trying to contact JC Penny to have them carry a brand of clothing in our name, they will probably hang up the phone so fast, that our heads will spin.
BUT, let’s not loose sight of the fact that each one of us is great and with individual talents, ambitions, creative skills, analytical skills, science, math, etc. If you are:
- Strong in Math, Science, English: You can start a tutoring business.
- A natural artist: You can start an art school with night and weekend classes to not impact your daytime job.
- If you love landscaping: You can start a landscaping business, or gardening service.
- If you love to work on cars: Maybe you can provide mechanic services on Saturday and Sunday at your local Body Shop.
- If you love to read, and enjoy Sci-Fi Novels…Maybe you have interest in writing a book.
- If you love kids, maybe you can provide Baby Sitting Services around the neighborhood.
- If you love building websites you can start a business creating websites or graphic design for clients.
This list can really go on forever. Many professional jobs, or hobbyists can extend their jobs or interests into starting a small business. Just make sure that you check with your employee manuals, and local laws and regulations to make sure that whatever you think of getting involved in is allowed by your employee and legal in your area.