Considering a Leap Into Your Own Business?
Starting a business can be both exhilarating and overwhelming all at once – and most certainly requires a leap of faith at some point. If you're considering taking that leap, here are a few tips:
- Be sure that the type of business you choose suits your needs and personality. Devote time to exploring several possible options and determine which best fits your needs, interests, and personality.
- Learn about the technology and resources available to you. The internet and related technologies have made owning a business accessible by most everyone. Email makes it easy to communicate with customers all over the world, shopping cart software makes it easy to accept payments even while you're away and website technology helps you create a community of people interested in you and your business.
- Commit your plan to paper. A business plan doesn't have to be complicated, but you do need to be able to articulate your goals and the strategies that you're going to put into place in order to be successful.
- Be prepared to set regular office hours. It's not easy to hold yourself as accountable as if you had a boss peering over your shoulder. It helps to have a designated work space in your home, a home office, where you're able to close the door and focus on business.
- When you own your own business, especially in the beginning, it's easy to try to be everything to everyone. You'll be your own accountant, your own lawyer, your own fulfillment center, your own sales and marketing team – you'll naturally want to wear all the hats. However, this isn't the best way to be productive and profitable. Plan to outsource what you can. Above all, remember that you are the CEO and it is your job to be the person who builds and grows your business.
- Remember to maintain a balanced life. It's all too easy to let your business consume your life 24/7. Burnout occurs and you start losing interest in your business. Profits suffer and so do your loyal customers. Take time to celebrate life, your successes and your friends and family. Balance is essential for a successful home based business.
While these tips may sound simple, they're not always easy to maintain in real life. Even people who have been in business for years sometimes forget these basics.
My advice is to do your best. Ask for advice where you can… and seek out a supportive community of entrepreneurs. But don't be afraid to take the leap. It is only then that you can experience the amazing rewards that business ownership can bring.
Submitted by Springfield Moms sponsor Joy Duling. Joy is a Business Strategist and Managing Director of A 25 Hour Day, LLC (www.a25hourday.com). If you've been considering the leap into small business ownership, consider getting your questions answered through her free monthly tele-class entitled "Fearless Start-Up", currently offered through the Midwest Business Academy at www.midwestbusinessacademy.com.
