How to Start a Business and Follow Your Dream

Owning your own business is a goal that many people dream of, but not everyone realizes this dream. In order to make your dream come true you must a plan. This plan will lay out the steps you need to make your business a success. Many small businesses fail for lack of planning and resources. Use these tips to start a business and follow your dream.

Write a Business Plan

A business plan is the first place to start. In your business plan you need to state the nature of your business, a company description, organization and management structure, marketing plans, your target audience, and a budget. Depending on your business you plan may contain more items; each one is different because each business is different and has different goals.

Get Training

The Small Business Association has free training seminars you can attend if this is your first time starting a business. Their courses cover all aspects on how to start a business. If you’ve never had any financial training you may want to consider taking accounting or bookkeeping classes. These classes will give you a deeper understanding about the financial structure of your business and how to keep accurate records.

Location is Important

If you are going to start a business and have a physical storefront you need to give location a lot of thought and research. Scout out locations in your town and talk to other business owners in the area. Ask them about the traffic flow, if the area is safe, and if they would rebuild there again. Enlist the services of a commercial real estate agent. They will help you navigate the complicated process of purchasing commercial property, or find the perfect location for building your storefront.

Research Financing Options

You have several options to explore when you start a business. The Small Business Association offers loans at competitive rates, and they have several types of loans and loan structures set up to help people start a small business. Banks are an obvious choice, but you may want to explore venture capital, personal loans, and grants.

Obtain the Proper Licenses

In order to do business you will need to register your business’ name with your state. This is known as “doing business as” or DBA license. You must get a tax identification number from the IRS, and register for any state or local taxes. You will also need to get any local and state business license and permits.

Hire Your Crew

As an employer you have certain legal responsibilities to your employees and to the government. Contact OSHA to find out the safety concerns pertinent to your business, and get an employer identification number so that you can file taxes. Don’t forget to deal with the three types of withholding taxes; federal, state, and social security. Keep excellent records so that when it comes time to file your quarterly taxes you will be ready.

It may not sound easy to start a business, but if you have a passion and want to see it become a successful business it will take planning and organization. Use these tips to get started and build a business you can be proud of.

Want to Know How to Start a Business?

How To Start A Business

Ever dream of being your own boss? Believe you might have what it takes to set up on your own? Don’t dream on…read on!

There’s a reason why you have been looking for information on How To Start A Business. Maybe there’s an idea you’ve been kicking around for a while. It could be anything from running a corner shop or setting up a small community enterprise with a friend – to spotting a brand new business opportunity with a product or service no-one else is providing. You can!

The very first step towards starting your own business needs to start with you. You and your business are intertwined. Your business reflects you and your personality, skills and approach to life; your own personal objectives drive your business objectives. For success you need to be confident, focused, hardworking…all those attributes of entrepreneurs that you read about.

But you can’t just jump right in and launch any old business. The market these days are so saturated with everyone trying to make some extra money. Redundancies being made left, right and centre, so people are using their skills to set up small businesses and offer their service to the targeted market which means that competition is going to be fierce and there is not much room for error.

More and more entrepreneurs are being born out of necessity and not out of choice. Petrol prices are going up, food is going up, everything just seems to be increasing yet our salaries are staying the same. So we are now pushed into making it on our own, calling out own shots and putting 110% effort into making our lives successful.

To make it out there in the business world you need to understand that when it comes to starting a business, the starting line is you! No matter what resources, products, services your business has, without you it doesn’t exist. You can’t win a race if you don’t compete; you can’t win the lottery without a ticket; you can’t make an omelette without breaking eggs; just like you can’t have a business without you.

You are the starting point for anything in your business – whatever your stage of business, whether you are starting, growing or diversifying. The starting point will always be you. So let’s look at what you is and just exactly what you do bring to your business.

You and your personality are made up of your good points and your bad points. For your business to succeed, you need to make the most of your good points: your strengths; and minimise the effects of your bad points: your weaknesses. So you need to recognise what these good and bad points are. You need to develop your self-awareness; identify your good and your bad points so you can make the most of the good and develop coping strategies for the bad. You need to brutally honest with yourself. Be brave and find out how others see you.

How you see yourself may be wildly different from how others see you. If you want to be successful in life and in business, it’s important to get to know yourself intimately and why you behave particular ways in particular situations and with particular people. Only then can you make any changes that you need to succeed. You may be blissfully unaware that people see you as ‘airy’ and disorganised, when perhaps you just have so much going on that you don’t take the time with people or you’re always late for meeting friends or you show up on the wrong day. Perhaps you can’t say no to requests from friends and then when the time comes you have to invent an excuse not to do something.

We all have underlying assumptions and values that affect our behaviour and those around us. We all respond to the expectations of others: our parents, society, and our friends. We all have roles in life, which dictate our behaviours too. You need to take responsibility for yourself; it’s up to you what you do, don’t be driven by what others expect or think you should do.

Take a close look at some of your behaviours and especially recurring patterns of behaviours. If you do not organise your time well and are always late for meetings then you’ll find that business people won’t give you the second or third chances that your friends and family might. You will have to learn to plan your time better, perhaps you always underestimate the time that it takes you to travel somewhere, and never allow any time for train or road delays.

In the business world you need to be very careful. Or perhaps you perceive yourself as more important and that your time is more valuable that theirs, so it doesn’t matter if you keep other people waiting. This is a really bad habit to have acquired, and you need to get rid of it because you are definitely not going to cut it in the business world if you have an attitude like that!

We all experience different challenges, behaviours and circumstances in our life so it is important to be aware of these challenges and rectify them (as much as we can) before we even embark on our enterprise journey.

It’s tricky running your own business and balancing it with your personal and family life and coping with the ups and downs of life and business. You are bound to get knock-backs, failures and disappointments; it’s the cold harsh reality of business. The secret to success is not to let them get you down. Try to bounce back and learn from mistakes – you need to be able to develop a positive approach to your failures, and overcome the myths and fears you may have about the business world. Only then are you ready to tackle your business plan and get your business up and running successfully.

Remember, if you believe you have no confidence, you’ll find reasons to prove it!

How to Start a Business from Home: Overcoming the Temptation to Quit

Whenever someone asks me how to start a business from home I always tell them one of the most important keys is finding a way to stay motivated. To believe they will eventually succeed. To keep going when they face some adversity.

As you start a business–online or off–I guarantee you will experience setbacks, frustrations, hostile customers and possibly even fraud. Like it or not these are a part of business.

When these things happen those who aren’t motivated to push through quit. They give up on their dream. No amount of instruction on how to start a business from home will do them any good–they have lost the fire.

How can you keep from becoming a casualty in 2006? One way is to anticipate the temptations you will have to give up. If you have a plan in advance you won’t be caught off guard emotionally or intellectually when adversity hits. In fact, you might just be able to laugh it off saying, “Yeah, I knew this was going to happen…”

So what are some things you need to prepare for? Here are some:

1. You will run out of money.

2. Someone will give your product a bad review.

3. You will have family and friends tell you you’re crazy.

4. You will have technical problems you can’t seem to fix.

5. Your customer service will be awful.

6. You will get nasty emails.

7. Your “best promotion ever” will totally bomb.

8. You will get cheated.

There might be more, but you get the picture.

So, how to do you overcome the temptation to quit when one (or more) of these things happen. Here is a four step plan:

1. Say out loud: “This isn’t so bad; I knew it was going to happen sooner or later. I know I can deal with this.”

I guarantee everything you experience in starting a business from home has been experienced by thousands of others. We’ve all been there. It’s going to be OK.

2. Evaluate whether or not this is a “real” issue or a “phantom.”

Some issues are real, some are not. Just because someone says in an email you are an awful “so-and-so” doesn’t mean much. But if in the middle of that email they tell you the download link isn’t working, you better check the download link and make sure it’s working. Name calling is a phantom issue, but it may be “caused” by a real issue.

3. Take action to correct anything you need to correct.

If you have an issue that needs to be corrected, correct it. Take action. If someone sends you a nasty email for no reason, unsubscribe them from your list. Psychologists tell us taking action is the best cure for fear–it gives us a sense of control.

4. Move on and run your business.

Now go about your day. Run your business. Move on to other tasks. Don’t dwell on the negative experience.

How do you start a business from home in 2006? The first step might just be to shake off the cobwebs of past failure and start again. To find out more on keys to staying motivated, I have put together this free guide: