5 TIPS TO STARTING YOUR BUSINESS IN LESS THAN A MONTH!
I never truly understood the craziness that is entrepreneurship until I officially started my business, Goode Media + Consulting back in February. I've grown up around entrepreneurs my entire life but experiencing the major wins and numerous curve balls first hand is entirely different that watching from the sidelines! Though, I'm still in the early stages of my business and learning something new EVERY day, below I'm sharing with yall my 5 tips to help you in your entrepreneurial adventure. So here we go:
1. Identify Topic and Market.
Start jotting down things that you enjoy and demographics that you feel personally connected with. For me, I’ve always been a creative, big picture thinker with a natural connection to small business owners! I combined these together and it all came pretty naturally after that.
What are the skillsets that come naturally to you? Do you love photography? Are you great at design and graphics. Are you organization skills second to none? Maybe you work well with kids or are a single mother with a connection to a network of other women just like you! There are business possibilities that have yet to be discovered so start brainstorming yall!
2. Determine the cost of your WANTS vs. you NEEDS.
The key here is research, research, research. Read articles, connect with groups on Facebook and other social media platforms. ASK QUESTIONS. I spent a solid week researching, connecting and being real about what was a “like to have” for example, a virtual address vs. a “need to have” for example a reliable laptop!
Take a few hours to do some research and start to create an honest list of needs based off your industry and services!
3. Establish a budget.
Oh money, money, money! A topic no one loves to talk about and everyone stresses about! Just like with your personal finances though, budgeting for your business will be sure to set you up for success.
Now that you’ve determined your needs start to build a budget around that, keeping your personal finances in mind. Know that if you’re not utilizing investors, you’re putting forward money from your own pocket book which can feel very scary BUT if this business venture is something you’re serious about, the money will come back to you tenfold. .
I’m personally a nerd and love to use excel for my personal and professional budgeting tool but you could honestly use ANY tool! Get started today!
4. Don’t worry about perfection, just do it!
Ever hear someone say, “it’s about progress, not perfection?” Well that also applies to starting a business.
I wanted to have every tiny detail in line before I launched my website and started bringing in clients. I wanted a bank account, to file as an LLC, a virtual office, business cards, social media accounts, the list goes on. The more I tried to perfect things prior to launch I realized it was the fear of failure that lead to my procrastination. At the end of the day you never know until you try. JUST DO IT YALL!
You will drive yourself crazy waiting until every little detail is ironed out prior to launching your business. The thing you have to realize is, you won’t know what you don’t know. You must try before you’ll ever succeed and as one of the GOAT said, “if at first you don’t succeed, dust yourself off and try again!”
5. LOOK TO THE FUTURE!
You’ve launched, maybe you have a few clients and you’re starting to build your portfolio. What’s next? Start by looking 1 week, then 1 month, then 1 year in advance. Make goals and be realistic with yourself. Did y’all know that nearly three out of four businesses are no longer in operation after two years? I don’t say that to scare you, heck I haven’t even made it to year one yet BUT it is something that I continuously remind myself of to ensure that I’m not just focusing on the here and now but I’m really identifying long term strategies and solutions NOW to help for future success in the long run!
And there you have it! I launched my business in less than 3 weeks after losing my corporate job, which btw was the biggest blessing. I had my first client prior to even launching and have had consistent project flow ever since! I hope you’ve enjoyed my 5 tips to starting a your business!!
Where are you in your journey to launching your own business?!