You’ve been thinking about it for months… or maybe even years. Don’t delay any longer! With these 3 things to consider, you can take the first steps towards opening your own business.
1. What is your purpose? Recently, I posted a blog about defining AND using your mission statement. While it may seem like a formality, it’s not! Embracing your mission, vision, and values is a great start to a successful business. There are many benefits to realigning with your core principles. For starters, it will help your customers identify your purpose and motivation and can guide your next big decision.
2. What is your budget? Now that you’ve established what you want to do, focus in on how much you’ll spend to meet those goals. Differentiate between what you want and what you need for your business. Then set your budget and stick to it as it is crucial to your long-term success. It is especially important to understand and work within your budget in the opening stages of your business. Take the time to understand your capital, projected revenue, expenses, and cash flow. Set quarterly goals and keep on track with them. Get started here.
3. What is your plan? Now that you have a purpose and a budget, the real work begins! It’s time to bridge the gap between idea and action and your success here depends on your plan. Whether it’s specific to marketing, business development, or networking, a solid plan with short and long term goals will help to keep you focused. Check out my blog for more tips!
Feeling overwhelmed? Let us guide you through the process of designing, planning, and implementing YOUR best ideas! 615.348.7768.