Starting your own business can seem stressful and confusing, but with the right planning and preparation, anyone can do it!
Are you thinking of building a business of your own?
Running a business can give you financial independence, space to be creative, and the freedom to define your work-life balance.
The ambitious women in my Startup In 60 program create successful businesses from scratch in less time and with less stress.
Here are my best tips to help you start and run your dream business.
Find Your Angle
Your angle or niche is the foundation of your business. Everything depends on you standing out from the crowd.
What do you want to sell? What makes you different from other businesses? If you set up in an already established market, then you’re going to be face competition (believe me, I know this feeling as a life coach!).
To draw in your customers and pique their interest, choose a niche that highlights your unique viewpoint.
That’s how I combined my book editing past with my current life coaching practice to become the Life Editor!
Do Market Research
This is a step most business owners ignore, but doing market research is essential for finding a way to stand out as your own brand.
Look at different promotions and bonuses other brands add to their products or services. How can you convince your potential customers to pick you over someone else?
Market research can not only tell you how you can stand out against other brands, but it’s a great way to find the right market for you to invest in. You need to know what sells, who to sell to, and how to market it, otherwise, your business might never get off the ground.
Expand Your Talent
You might be one of the lucky multi-talented go-getters out there, but if not, then you’ll need to learn how to keep your business relevant.
What skills do you lack? What technology or systems do you want to master? What have you always wanted to learn?
You can pick up new talents and skills from places like ABC Heart of America or other online courses. Search for apps, sites, and learning programs that have training resources relevant to your field.
Make Your Budget
After doing your market research and figuring out what you want to sell, you need to determine how much it’s going to cost to get your business started.
In Startup In 60, I show you how to get the sales rolling in without spending a lot of your cash upfront. You gotta be scrappy and inventive!
If you don’t have tons of money to start up your business, then you may want to look for cheaper alternatives, free trials, and workarounds that still help you serve your clients without being costly.
Manage Your Finances
I’ve mentioned before that one of the biggest mistakes I made in my business was not paying quarterly taxes my first year so then I had to deal with a massive tax payment all at once.
Now I have a better handle on my finances, and it’s up to you to manage your income and expenses like a pro. You are the boss, after all.
Track your finances and make sure you’re not spending your hard-earned moolah on any unnecessary subscriptions or programs.
Outsourcing your admin tasks or other time-intensive projects can open up your schedule for your more important work.
You don’t have to be an expert in every aspect of running a business, so hire help where you need it.
Use Social Media
Social media is a fabulous way for businesses to connect with their customers on their level.
You’re not a big faceless corporation. There’s a real human being behind the brand name.
Remember to post content consistently, stay on-message with your brand, and really interact and engage your followers. That’s why it’s called social media.
NEXT STEP: Ready to build a business from scratch? Join Startup In 60.
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