Talk to Others About Your Ideas
Some would advise to just dive into a business, I differ on this perspective. There may be a few opportunities that may arrive on a moments notice, but for the rest starting off slow is best when learning how to swim in the world of business. Did you know that businesses fail more often then not within the first two years due to lack of vision. I know what you thinking, “they ran out of money.” While this is true there is a reason why they ran out of money. They lacked vision to keep the money rolling in. This leads to the question, “Why wasn’t there enough demand for the service or What did they do wrong?” There is much to consider after you have brain stormed your thoughts. Working on the red tape in the beginning best than when the ball is rolling down the mountain. In other words, put a rudder on your ship so you can control the direction of the ship as the wind is in your sails.
One concern that is seen over and over is the lack of communication to others. In the beginning, talk to everyone that is important to you about your idea (given it is not top secret and nobody else is already doing your idea.) Talk to your spouse, parents, family, and friends. Get all the input you can, you will be amazed at the collective information and advice you will receive from conversations. You will get negative feedback as well as positive, be ready for both. Some people may not believe you will follow through with your ideas. Others will say you will never make it. While the rest will support you. This is key to your becoming, because down the road you will see that the same people that you talked to in the beginning will be the ones talking about you to others later on. Word of mouth is the most effective and lasting advertising tool you will ever have in your arsenal. Why not establish it first.
If somebody says something profound or ear catching, write it down. One thing that sticks in my mind is “nothing ventured, is nothing gained.” If you don’t try, you cannot fail and you cannot succeed if you don’t try. Get the point?
In all of your talks, you should at this time consider any legal red tape you will need to cross. Things such as, taxes, licenses, & costs of operation. I am not going to touch much on these subjects for that is beyond the scope of this article.
Here are some great informational websites to bring you up to speed on the red tape.
This is not all inclusive and doesn’t really hit home on your local tax codes or laws, however it will get you started in the direction you need to head.
Last, but not the least of any of these, count your costs. If you are going to be going into business you need to consider your expenses. How much are you going to spend on insurances, advertising, gas, etc. If you are not comfortable with budgeting, may sitting down with a financial advisor would prove useful and money well spent for you. Money is what your trying to make more of and could be the very thing to take you down if you don’t keep control on it. Same goes with your attitude towards clients and employees.
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