How to Start a Business and Follow Your Dream

Owning your own business is a goal that many people dream of, but not everyone realizes this dream.

Start a Business

In order to make your dream come true you must a plan. This plan will lay out the steps you need to make your business a success. Many small businesses fail for lack of planning and resources. Use these tips to start a business and follow your dream.

Write a Business Plan

A business plan is the first place to start. In your business plan you need to state the nature of your business, a company description, organization and management structure, marketing plans, your target audience, and a budget. Depending on your business you plan may contain more items; each one is different because each business is different and has different goals.

Get Training

The Small Business Association has free training seminars you can attend if this is your first time starting a business. Their courses cover all aspects on how to start a business. If you’ve never had any financial training you may want to consider taking accounting or bookkeeping classes. These classes will give you a deeper understanding about the financial structure of your business and how to keep accurate records.

Location is Important

If you are going to start a business and have a physical storefront you need to give location a lot of thought and research. Scout out locations in your town and talk to other business owners in the area. Ask them about the traffic flow, if the area is safe, and if they would rebuild there again. Enlist the services of a commercial real estate agent. They will help you navigate the complicated process of purchasing commercial property, or find the perfect location for building your storefront.

Research Financing Options

You have several options to explore when you start a business. The Small Business Association offers loans at competitive rates, and they have several types of loans and loan structures set up to help people start a small business. Banks are an obvious choice, but you may want to explore venture capital, personal loans, and grants.

Obtain the Proper Licenses

In order to do business you will need to register your business’ name with your state. This is known as “doing business as” or DBA license. You must get a tax identification number from the IRS, and register for any state or local taxes. You will also need to get any local and state business license and permits.

Hire Your Crew

As an employer you have certain legal responsibilities to your employees and to the government. Contact OSHA to find out the safety concerns pertinent to your business, and get an employer identification number so that you can file taxes. Don’t forget to deal with the three types of withholding taxes; federal, state, and social security. Keep excellent records so that when it comes time to file your quarterly taxes you will be ready.

It may not sound easy to start a business, but if you have a passion and want to see it become a successful business it will take planning and organization. Use these tips to get started and build a business you can be proud of.

Launching A Start-Up Business – When You Should Vs Shouldn’t

Launching a Startup – When You Should vs When You Shouldn’t

Starting a business and making the decision to move from being an employee to being an entrepreneur is one of those things that is often painted in an unrealistically rosy picture. Sure, if you’re successful at it, there’s nothing better than being your own boss, doing something you love, and making a comfortable living doing it. But what does getting there actually entail?

This is one in a series of posts aimed at helping “would-be” entrepreneurs get out of the gate and on the road towards establishing a running business of their own.

Why take the risk of launching your own business venture?

There are plenty of great reasons for launching your own start-up. These include:

  • The opportunity to be in control and do the things you want to do: you get to succeed or fail on your own
  • Not having anyone tell you what to do: you are your own boss
  • The opportunity to create something new: the ability to bring something totally new into existence without the constraints often faced by larger companies
  • The opportunity to impact the world: to develop a new way to communicate, a new way to cut costs, a new way to collaborate, or anything else to make the world a better place
  • Money: when things go right, there can be a lot of money in successful start-ups

These are some of the more fundamental reasons for starting a start-up.

The downside to launching your own business

There are just about as many, if not more, reasons not to start a start-up.

  • They can be emotionally draining: from exuberant highs to depressing lows, start-ups can constantly put you through an emotional rollercoaster
  • Nothing happens unless you make it happen: in established companies, everything happens according to a fixed set of operational procedures, but in a start-up, you have to do virtually everything yourself
  • You are constantly told “NO”: unless you come from a sales background, you are probably not used to being told “NO” all the time, and it isn’t very fun
  • Hiring is extremely difficult: you are constantly faced with casual shoppers, folks who aren’t as serious or passionate about your idea as you are, and you end up being taken for a ride before being told “NO”
  • The hours can be grueling: despite books, articles and workshops promoting the perfect work/life balance, as a start-up entrepreneur, it isn’t likely you will have much of a life outside running your business, at least in the beginning

Still ready to take the plunge?

OK, so I haven’t talked you out of your conviction that starting your own business is what you want to do. Alright, fair enough. It seems you are convinced that it’s the way to go. If you think you’re ready, great! There is no time like the present, and opportunities abound for those who unwaveringly want to see things through. If you want to get your business up and running, here are a few things you to help get you started:

  • What is your business idea?
  • What will you name your business, product or service?
  • How will you go about building a team?
  • How will you build an organization with a thriving work culture?
  • How will you market yourself?
  • How does your team communicate, and how will you establish your online presence?
  • How do you test your idea and collect valuable customer feedback?
  • How can you raise funds, or like-minded business collaborators?

In the next series of upcoming posts, we’ll go through all of the above points in turn to give you a better grasp of what you need to do, and how to do it, in order to successfully get your own business off the ground and go from being an employee to being a business owner.

Starting a Business for Beginners: The Fool-Proof Internet Marketing Plan

If you find your search the web for “starting a business for beginners”, then no doubt you’re looking for an easy way to evolve from employee to entrepreneur, and perhaps a home based business opportunity is what you’re looking for.

Of course, there’s no such thing as a business without investment…

However, thousands of people have found their way out of the “crab trap” by discovering how to market online.

While we all look for step by step instructions in the beginning, let me just say that, as an entrepreneur, it will serve you well to start thinking outside the box…

When you constantly look towards others for approval or questioning what to do next, then you’re operating inside the box – and that’s an employee mindset.

Having said that, I will lay out for you a “starting business for beginners” checklist to follow to set you off in the right direction…

1) Training for how to market online is mandatory.

Assuming you would like to operate a home based business opportunity, the easiest and most cost-effective way of doing this is to learn how to market online. However, whatever it is you choose to market, you’ll get nowhere without the proper training.

Network marketing companies especially are notorious for not advising their distributors how to market… they are known for recruiting newbie after newbie full of hope, but does not have a clue how to sell or recruit.

You can’t just go off and start running blind on these things – having no plan is the same as planning to fail!

2) Market the training.

Whether you already have a passion for a home business idea or not, you’ll be a step ahead of the game if you decide to market the training itself. There are hundreds of different online training courses out there – and, once you buy it for yourself, most will off you a commission for simply promoting the link online.

If you’re using the training as “bait” to capture a lead to get them into the deal that you’re really passionate about, marketers call this a funded proposal. If you choose to market only the training products, this will limit your overhead substantially, because there’s nothing to buy and stock up on.

And, when you’re first starting a business online, be sure you have another income source!

3) Work your new internet marketing plan part time.

Starting any business at all is always a risk, so you can imagine how you should be cautious about jumping in head first when starting a business for beginners!

Remember that there is no such thing as a business without investment, so you’ll need to be working at something else to build capital while you grow your business.

4) The best internet marketing plan will pay you 100% commissions after business expenses.

This means that you first get the commissions – 100% – as you would for something digital you might create yourself that can easily reproduced digitally – and then you take a portion of that and put back into your business for administration and marketing.

An example of administration costs would be the costs for your merchant account to funnel money to your bank account. It’s advised that a good marketer should invest 20% of his profits back into the business for marketing.

5) Up-sell your stuff.

It’s been proven time and time again that it’s way easier to sell more products or services to an existing customer than it is to get another customer. Here again is why I lean strongly towards learning how to market online… Because, with a good internet marketing plan, up-selling features can be promoted on an automatic basis.

6) Create professional capture pages.

The “capture page” is also called the “landing page”, because it’s where your prospective customer first “lands” on the internet when searching for your keyword phrase. In this case, however, I’m using article marketing, so you would first land on my article or blog when you search for “starting a business for beginners”… And then, once you click on one of my links, that’s the landing page.

A good professional landing page has professionally worded “ad copy” (marketer’s lingo for compelling text that touches people emotionally.) It will sometimes also contain a short video.

“But wait a minute”, you say, “I thought this was supposed to tell me how starting a business for beginners could work for me… and this is a bit overwhelming”…

I know… don’t worry – no need to get overwhelmed…

Just remember that no one is born an expert internet marketer, and there’s always a learning curve. But once you commit to learning, there’s no greater reward than learning how to market online and helping others do the same! There’s even an internet marketing system out there that’s actually designed for starting a business for beginners!