I won’t tell you that starting a business is as easy as one-two-three.
Launching a new business can be equal parts exciting and intimidating. Knowing where and how to start can be daunting. If you don’t have a solid business plan, you may feel like throwing your hands in the air and calling it quits. Instead of letting that feeling overtake you during the first month, take a step back and note the top five things you should do to successfully begin the launch of your business–and get a jump on building a support system at the same time.
1. Work on a Business Plan
Spend quality time during month one putting together a viable business plan. Be open and honest with yourself that this plan may change a bit as you get started launching your business. That’s fine. Having something down on paper lets you set deadlines and goals for the first few months. If you need a push in the right direction to get started, you can find free business templates online that you can use when you begin to plug in the ideas of the business you’re eager to start.
2. Set a Budget
When you’re putting together plans to launch a business, you’ll find yourself digging deep into your personal finances to make those plans happen. You may also need to crack open your emergency savings account to fund your everyday bills, if you’re not working any other job at the moment. To avoid going into debt, set a budget and lay out a clear roadmap indicating how much you’re able to spend in the first month or two and decide what kinds of activities or typical spending habits you may need to put on hold for now.
3. Pinpoint a Mentor
Search for other entrepreneurs in your industry and see if you can schedule coffee dates or phone calls with them. It’s advantageous to start networking even when your business is in its earliest stages.
4. Ask for Help
Don’t be afraid to reach out to friends and family members. Tell them what you’re doing and see if they know anyone who is able to help. You’ll need a good lawyer and accountant by your side during these early months.
5. Snag Free Resources
Go online or check out free local resources offered by your city, county or state. The more free workshops, templates and consulting sessions with professionals you can get, the better. You’ll be pleasantly surprised to learn how many free and helpful resources are available.
I won’t tell you that starting a business is as easy as one-two-three. But taking these five steps as you’re about to launch your new idea into the world will help get you off to a great start.
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