3 Steps to Take Before Launching a Business Written by Ed Carter of ablefutures.org
Most of us dream about quitting the rat race and starting a business, but few of us actually take the plunge and go for it. Why? Entrepreneurship is not an easy path. While it’s possible to become an entrepreneur without any experience, training, or money, starting a business is easier said than done. Pursuing the path of an entrepreneur involves many legal, financial, and logistical considerations, and it’s easy to feel paralyzed by the decisions ahead. Fortunately, Take It to the Edge Marketing presents some great resources to help you get your bearings!
Learn the Ropes
Entrepreneurial knowledge will contribute to the success of your business. Learn a few key skills to increase your proficiency in planning, strategizing, managing, communicating, and selling before moving forward with your business idea.
● Attend networking events, webinars, conferences, and trade shows to learn more about your industry and connect with other entrepreneurs.
● Read books and watch TED talks by entrepreneurs who inspire you.
● Find a business mentor who can guide you through the startup process and pass on their skills.
● Find out if starting a business in your home is legal, especially if you rent. Use sites like Rentals.com to find a new place if you need to relocate.
Lay the Legal Groundwork
Don't rush through the not-so-fun parts of starting a business. New business owners must comply with a range of legal obligations including tax responsibilities and financial regulations.
● Choose a business structure and register your business name.
● Apply for an Employer Identification Number (EIN) so you can legally hire employees and pay taxes.
● Check the local permit and licensing requirements that apply to your industry.
● Obtain business insurance to protect your business and personal assets from potential legal risks.
Map Out a Plan
Every successful business starts with a plan. Take the time to set business goals and map out the steps you need to take to achieve them. Here are some key details to include:
● Determine exactly what your business will offer and how you will provide value to your customers—beyond that of your competitors.
● Who is your target audience, and how do you intend to reach them with your product?
● Connect with Take It to the Edge Marketing to develop a marketing campaign that suits your business.
No startup sees success overnight. Building a thriving business takes plenty of time and hard work, so it’s important to approach the process one step at a time. Focus on establishing a strong foundation for your business now and you’ll thank yourself in the future!
Leave a Reply.