Opening a small business is just a dream for many people.
Being in business can give you financial freedom and the flexibility to be there for your babies when they need you!
It is usually not so simple and you need to do a lot of planning to ensure that you do achieve the flexibility and financial freedom from the business.
Before opening a smallbiz you need to have:
passion, motivation and the desire to achieve success
Business can be up one minute and down the next and you need to have the desire to keep going when things get hard ...
Having passion, motivation and the desire to achieve success are the key skills that will keep you going when things get hard.
When starting a small business the chances of success can be high ...
But so can the losses.
If you want to increase your chances of the success you need to prepare and plan for every possible contingency and opportunity.
If you explore each and every opportunity (or challenge) that comes your way and ensure that you respond to it in a way that connects to your business goals...
Then you are more likely to achieve success.
Regardless of whether it is an opportunity or a challenge (which all business owners face!).
1. Do your research on your opportunity - what are the chances of success? What are your competitors doing? What is the need for your service or product? All these questions should be answered through your research period.
2. Planning your business - I know everyone hates planning but it is a must. It doesn't have to be a long boring document that you put on the bookshelf never to be seen again but you need to have a plan if you want to succeed in smallbiz.
3. Check the legalities of registering your business - you need to ensure that you speak to your local authorities about what registrations you need to have. You also need to know what business structure will be best for you. If you don't have a background in these there are specialists that can help with this.
4. Marketing your business - how are you going to get the word out there about your business? There is no point to opening a small business and then not having any customers. You need to get the word out there even before you start and then keep going after it starts.
5. Setting up your financial systems - if you don't have your finances setup up right from the start you will have problems with your business. Guaranteed!
This is my #1 tip for starting a small business!
6. Managing your Operations - once you are up and running you need to manage the day to day operations. This is where it becomes really hard if you are running the business by yourself. There are so many things that you need to keep up to date with - marketing, finance, HR, customer relations, legal requirements, etc, etc, etc. Small Business can be lonely ...
But it can be super super exciting if you do it right!!
If you are in business on your own it is good to network and talk to other small business owners.
You can join our Business Parents Facebook Group to ask other small business parents questions.
Or there are heaps of other business communities out there that you can talk to that would be going through exactly what you are going through.
The internet is a wealth of information. Get out there and use it.
So, are you ready to open your own business?
Want to get more information about how we can make it happen?
Join my 7 Days to Starting Your Own Small Business Course below or Book in a Free Consult with me on Skype to discuss how I can help you in setting up your small business.
If you have any other questions please feel free to contact me by clicking on the contact button at the top.