Starting a New Business?

 

Starting a new business?  If you are, you’re certainly not alone.  In fact, these past two years have been banner years for people launching a new company.  Perhaps they were quitting jobs as part of the “Great Resignation” (see article below in the blog).  Or, maybe since folks working form home had more time, or maybe it was just more people realizing that they wanted to pursue their dream of being their own boss.  Whatever the reason, 2020 and 2021 saw a surge in the number of new businesses starting.

Most new businesses are one-person businesses, at least at first.  Your new business is likely to be just you, too.  So my readers, small business owners who’ve “been there, done that” share some of their best suggestions for starting and running a one-person business:

  1.  Keep bank accounts and credit card transactions for business separate from personal ones.
  2. Figure out -and write out- what value you bring to a client.  You must have a market.
  3. Instead agonizing over perfection, get in the ring and go!  You just need the barest minimum website that says what kind of problems you solve and for whom -and why you’re qualified.
  4. Have clients and relationships in place before starting your business.  Going out there and talking to prospective customers helps you understand what you can really make money doing.
  5. Start small and get experience to grow.  You need to learn to walk before you can run.
  6. Create a process for developing proposals.  Design templates for proposals, processes and spreadsheets you expect to use often.
  7. Be authentic.  Stay focused and do your research.  Create a mantra or motto for your business.  Be open to changing your target audience.  You much be willing to pivot if the market demands it.
  8. Reach out to your local small business development center (SBDC).  They’re free and have lots of helpful things.

Courtesy of Rhonda Abrams in USA Today

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