Posted on 01/21/15 by Tara Palacios
Happy New Year everyone! Welcome to 2015. Is your resolution to start a business this year? If so… then you won't want to miss this blog! Here are 5 simple tips when it comes to keeping your resolution to starting a business:
You know that you want to start a business. Detail it out. Write it down. What specifically would you like to do? Keep it simple (KIS), and executionable. The business should be reasonable, logical and with the least amount of monetary investment (if possible), and seek a large return. The broader your vision the harder it is to launch. The more specific you can be in regards to your mission, vision, target market, competition etc. the better off your efforts will be in the long run.
I write everything down that I would like to accomplish. Activities become real, and tangible once it is in your calendar. Here’s a good tip. Start backwards with your planning. What business is it that you’d like to launch in a perfect world? Begin with the end in mind. Would you like to sell the business, franchise it or retire from it? What are your ultimate business goals? Then begin to map out how long it will take to plan, fund, and go through all of the legal requirements etc. Your project timeline will help you to stay focused and keep on task. Be flexible, because some activities may take longer than others.
Planning is the key to success. Information is power. Business intelligence will set you apart from the pack. Know your market like no one else has ever known it before. Truly understand the strengths, weaknesses, opportunities and threats (SWOT Analysis) of your industry sector. Be honest, don’t create a market where there is none. Delve deep. Tons of resources to help you find information for free. At BizLaunch we can help you find the information you need.
You are not alone. It’s true. An entrepreneur can lead a lonely existence – but it doesn’t have to be that way. If you need to run ideas by business experts, and would like to speak with a mentor – the internet and phone are just one step away. Seek help when you need it. Don’t wait too long. Networking, meet-up groups, and advisory relationships are key if you utilize them strategically. Look around your community and find influencers who you can turn to when you need advice.
Don’t forget to leap. Research and planning are great tools but at some point you’ll need to take the leap and execute. As Nike says, “Just do It.” However, in business, it is definitely a planned jump. You’ll know the point when you are ready. You’ve got your parachute, and you’re surrounded with support. Keep your eyes open, and stay focused.Topic: BizLaunch