I get contacted all the time by people who want to start a business and need my services, but don’t realize they’re not really ready. So what does it take to BE ready to start a business?
Most of the clients who contact me about starting a business only have an idea in their head. They don’t have a business plan, haven’t saved the cash they need for capital expenditures, and haven’t thought about the costs of running and marketing the business. All of these entities are requirements to set yourself up for success; skipping any or all of them can cause you to stumble further down the line.
It’s important to note that building a strong brand takes time and varying amounts of cash. Have you calculated how much money you need to create a website, create your brand image and identity, and create your marketing materials? Have you saved the money to cover those costs? And if not, are you trying to start cheap by hiring the cheapest (and often least professional) help possible, thus setting yourself up for failure before you even start?
Lately, my advice to new clients has been this: take some time, research your market and competition, write down your expenses, and save some capital to finance your business. When you’ve done that, I can do my job and help you grow. And you will be set for success.
So do you think you are ready to start a business? Use this list as a reference:
- Have you written a business plan?
- Have you researched your market and competition?
- Do you really know what you need to get started?
- Do you have enough money saved to cover your capital expenses?
- Are you able to finance marketing activities for your business once it’s up and running, and do you know what they will be?
- Have you set goals and objectives for your business so that you can gauge whether or not you are succeeding?
Starting a business is not an easy or quick task. Because everything in our society is so fast, people want their businesses to run quickly without spending time and effort.
But remember: you have to do the work first to succeed later. Take time to plan, save, and research to set yourself up for success. Consult with a professional so you know what you are doing. That way you have a better chance of achieving the ideas and dreams that you are so passionate about.