Everyone looking to start a new business has questions about where to start.
If this is you, this post will tell you 5 things you’ll need to get started.
Here goes:
1. Time is of essence: Running a business is a commitment which requires enormous time and attention. A wise friend of ours invented the 90/90 rule: “focus on a new business by spending 90% of your time for 90 days solely on it”.
2. Research is beneficial: Before you start your business, it’s important to carry out market research to understand the market, establish that there’s a gap you will be filling and know what you’re getting into.
3. Money helps: This doesn’t apply to every business as there are businesses you can start with very little money. However, for most businesses, you need to start with some seed capital to equip you with the tools you need for the business. The level of capital required to begin will depend on the nature of your business.
4. Patience is more than a virtue: Success doesn’t happen overnight and just like the caterpillar eventually blossoms into a butterfly – you have to trust the process and patiently put in the work that is required to grow your business to success.
5. Business plan is a roadmap: Writing a business plan will enable you to set goals for your business and will guide through each stage of starting and managing your business. It’s a roadmap for how you structure, run and grow your business, which helps you think through the various components of your business.
If you would like to talk through these steps, we’d be happy to help. Book a 🆓 discovery call today.