Introduction
| Hi, Postbordem readers. It has been almost two years since I first set up my subcontracting business. To commemorate the occasion, here is a list of 12 things to consider for those who want to start their own business.
Steps to Starting a Business
1) Figure out what your business will do and who you will do it for. If you can’t provide value to your customers, then don’t start a business.
2) Come up with a name. Be sure to ask your friends, family, and others what they think of the name.
3) Once you have a name picked out, look online to see if it is available. If the domain is cheap, buy it. Not only does it serve to give your business credibility, and stop other parties from taking and using the url, this serves as a good motivator to get you moving forward with your business idea and trust me you are going to need all the motivation you can get because it is going to take a lot of hard to build a successful business.
4) Once that is done, make a logo for your business or pay someone else to make a logo for you. Even though you haven’t produced anything yet, this gives your business an image and gives you something to eventually advertise (and is another valuable source of motivation).
5) Think about how people are going to get in touch with you and come up with a contacting strategy. Maybe people will stop by your business, email you, call you on the phone, leave a comment on your social media page, or maybe you will have to go to them. Establish what your preferred method is and go with it.
6) Using the previous step as guidance, procure an email address, phone number, P.O. box, whatever it is that you need so people can reach you and establish a routine for checking it.
7) Make a webpage, a social media page, and/or some business cards. This way you can start building a portfolio and networking. Remember, you are making a name for yourself and your business.
8) At this point, relentlessly educate yourself and practice whatever processes you can. Most of us can’t blow a lot of money, but you have to spend some money to started a business. Maybe its $100 maybe it’s a $1,000, just get the resources or books or courses that you need. Don’t be afraid to make mistakes or screw up at this stage. The mistakes are just as valuable as the sucesses. Learn as much as possible now because you are going to need that knowledge later.
9) It is very important at this stage to establish a good work ethic and company motto. Not just a routine or thought in your head but something that you can write down and teach to others. Think of this as a promise that you will fulfill to your customers. Here’s an example of something simple I implemented for my own business:
10) Use whatever networking avenues you have available. Church, friends, past employers. Maybe you can provide assistance to an already established player in your desired field of operation. This can not only earn you money and experience in the mean time, but can put you in cotact with potential costumers for the future. Establish direct contact with these parties, listen to their complaints and compliments, solicit their feed back. Use this knowledge to outdo the established players in some way. You may not be ready to establish your own business at this stage, so use this time to build up your own personal reputation. If nothing else, you can cash in on an endorsement later, “Oh yeah, so-and-so does good work,” will get you further than you’d think.
11) If you’ve made it to this point, congrates! You’re probably ready to start your own business and make money; however, one final preparation. You still need to figure out how you’re going to get paid (and how you’re going to pay your taxes). It’s at this point I would likely suggest setting up an LLC (ignore the other business structures for the time being), this makes filing your taxes easier and allows you to set up a business account at your bank. Perhaps set up a digital payment option.
12) This one should be a given, but be sure to establish a budget. Not only for yourself but for your business as well. Get into a habit of tracking and labeling your income and expenses. Business that don’t get this right eventually tank.
And there you have it. A starting place for those thinking about starting their own business. Hope it serves you well.
— TBryantS
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