8 Steps to Start your own Small Business (and be profitable)

RSS Author RSS     Views:N/A
Bookmark and Share         
Letís face it- we all wanna be our own boss. I mean, we all wanna invest our time and energies working towards Ďourí ideal dreams of making a gazillion dollars, living the high life and not having to report to work on time, or salivate like Pavlovís dogs at the mere mention of the month end salary.

Good, but how? Owning a business seems like the ideal thing to do- but, itís not for everybody. If you ainít as disciplined as a trapist monk, as frugal as your grandma, as calculative as a calculator, innovative as a Leonardo Da Vinci clone, or are still fixated on the Ďnot having to report to work on timeí comment from before, stick to your day job.

If however, you do qualify to go after your dreams without seriously pissing off the angels of luck and prosperity sitting on your shoulders- Read on for the 8 steps that will help you get started:

1.Have a Plan?
What would be your business? Without this, you are goofing around man. You intend to manufacture a product, or run a service that you feel people need. Better if itís something thatís unique and totally your own- ĎCarpool- When Carrom meets Poolí, see what we mean?

2.Put your Plan on Paper
Even Moses needed two stone tablets to convince the Israelites about Godís Ten Commandments. To convince people around you, and keep yourself on track, you must put your big plan on paper. A business plan helps to define what you think you need to launch your business and explains its essence in a single document.

3.Whatís in a Name? Everything!!
A good, catchy name is essentially your small businessí calling card- the tip of the iceberg, if you will. Take your time to unearth a good title as people are going to soon associate this name to everything your business stands for. Meanwhile, check out if .com domains are available for this name in a legible combination. If yes, register it before someone else snaps it!!

4.Recruit the team
Ok, this is the tricky part. Aside from your own expertise, you might want to bring in some of your trusted friends and contacts to join in your mission. This helps build a positive synergy in the team wherein people bounce ideas off each other and generally add to the overall cause. Remember however, this isnít Ocean 11 or any one of its sequels.

5.Get the Law on your Side
While building your plans, you might have unintentionally trampled on regulations or sought out patented or soon to be patented ideas as your own. Plus, there are tons of Government rules in place for owing a proprietorship. Hire a good Attorney to help you make sense of all this.

6.Pump in some Cash
How are you gonna fund your business? Your savings, bank loans, funding from friends, the treasure chest buried in your garden- anything that can help your business get off the ground. With a website and online marketing, you can also seek crowd-funding from the general online masses. Always remember the four F for investment- founders, family, friends and fools.

7.Create a Brand Entity
Unless you are running a secret project for the CIA, you want people and businesses to know about you. Get a website, corporate branding including letterheads and business cards, and that shiny metallic plaque for your front door.

8.Online Marketing to round up the Cows
Website for your business isnít gonna source in your target business overnight. Invest in some Online Marketing to truly spice up your website and business image across the World Wide Web. With powerful Online Marketing you can compete with established names in your sphere of operation from Day 1 itself. Bless the Digital Age!!

There, from an idea to actual business in 8 Simple Steps. Now get off that couch and get moving!

Report this article

Bookmark and Share

Ask a Question about this Article