The early days of launching your small business are often very exciting, yet daunting. As a beginner trying to get your venture off the ground and running, you will have your share of unglamorous work – but it’ll be worth it. Take a look at these six tips to help get your business off the ground.
Make Monday Your Favorite Day of the Week
It’s not easy getting a business running, but if you’re passionate about what you’re doing, you will find success. This is why you need to launch a business that allows you to do what you love so Monday is your favorite day of the week. Most people spend more than half of their waking hours working, so it’s extremely important to love what you are doing.
Cross Your T’s and Dot Your I’s
When you start a business, you have to do more than offer desirable products and services. Before anything else, you need to write a business plan that explains why you care, determines the purpose of your plan and documents all aspects of your business and helps create a clear understanding of how you plan to operate it. Plus, it will increase your chances of securing funds. Then, you obviously need to fund your startup. Don’t let money stop you from pursuing your dreams of business ownership.
If you want to start your own business but don’t have the funding, you can still get it off the ground in a number of ways. You can visit your local bank to seek options or explore some of the online companies, seek help from friends or family, secure funds from financial venture capitalists, angel investors, or crowd funding. And, keep in mind there are many ways to get a loan, consider an easy payday loan app, even with no credit, bad credit or bankruptcies. You need to fully understand the market. You need to develop an influential and powerful message. You need to understand your own skills, strengths and the time you are available. It’s best to surround yourself with advisors and mentors who can support you.
Familiarize Yourself with Legalities
As early as possible, seek counsel from an attorney who is familiar with business issues. You need a business name that is not too similar to another business name. A lawyer can draw up the documents needed to help you apply for an LLC and set up a federal tax ID.
Protect Your Business
Buy insurance to protect your business from accident liability, theft, fire, vandalism, etc.
Take time to research health insurance plans for you and your team. Decide if you want to offer insurance to your employees or wait until your business is a bit older.
Don’t forget to start a checking and savings accounts for your business and look into retirement plans.
Have a Good Time
With the long list of essential things to do, don’t forget to have some fun with your employees. While there are inevitably challenges for entrepreneurs, such as how to manage everything and that feeling of uncertainty and embarking into the unknown, focus on cultivating a work environment in which your team is happy and motivated to excel at their job. Consider going as a team to happy hours and other bond-forming events. When you foster a fun and engaging environment, you will strengthen your team.
Focus on Customer Satisfaction
Determine who or what is your competition, then figure out how you can deliver a more emotional and better connection with your customers. If you can delight your customers, you will make them lifelong supporters of your business. Customer loyalty results in business longevity.
A product idea and a business plan are great starts to embarking on the process of starting your new business, but don’t stop there. Use these tips to help you complete the necessary tasks to get your business successfully off the ground and running.
Megan Totka is a freelance writer, expert and consultant. She was the marketing & editorial director at ChamberofCommerce.com for over a decade. As an expert, she specializes in reporting the latest news, helpful tips and reliable resources, as well as providing advice. She has significant experience with the topic of marketing, and has spent several years exploring topics like copywriting, content marketing, list building, social media and any hot topics to help businesses run successfully.