2. Get organized and stay organized.
It may seem like a hassle now, but when it comes to say, gathering receipts and invoices for your accountant to prepare your tax return, you will be glad you did. When planning your new business, keep a notebook on hand to jot down ideas, categorize your research, to keep track of your start-up and operational costs, etc. Also, be sure to reserve space on your computer’s hard drive for your electronic materials as well.
A good place to begin is to make a “startup checklist,” where you can outline tasks like spending time at the library researching your market, interviewing an expert or two in your industry of interest, meeting with an attorney to determine which legal form of business is right for you, etc. A checklist allows you to keep track of what’s been done and what you still need to do before opening your doors to your first customer. And by being organized, you will be able to put your fingers on any record, receipt, or lead almost immediately.
3. Get help!
Having a coach is a great way to establish consistency and accountability in your start-up efforts, not to mention a fantastic way to keep you motivated. Let the experts show you how to do it right. Sure, a smart new business owner will seek out the basic three - an attorney, an accountant, and a banker. But a business development coach can point out potential pitfalls and help you prepare that all-important roadmap–your business plan. Look at hiring a coach as an investment in the success of your business and your happiness with its development.
4. Be persistent. Don’t give up!
The one sure way to fail at a new business is to never start one. Yes, you will have setbacks or encounter more than a few naysayers along the way. And you may find that your original business idea has given way to an even better one. But if you have discovered a legitimate market for your product or service, done your research, and developed a solid plan for reaching your customers and meeting their needs, the benefits will far outweigh the disappointments.
Like countless others, you may have made dozens of New Year’s resolutions that have fallen by the wayside, but by following a few simple steps you can take your business idea from dream to reality.
Linette Singleton is the principal consultant for Singleton Consulting Group, which provides marketing and business development services to small businesses. She can be reached at www.bpcoachonline.com. |