I’ve started more businesses than I’d care to admit. In my experience, it’s a bit like driving through a heavy fog where you are only able to see a few feet in front of the windshield — you don’t know what’s up ahead until it’s upon you. However, the longer you are an entrepreneur, the better you can navigate through that fog.
- Aubrey Lang
Starting a business can be daunting especially if you don’t know where to begin, but don’t worry. In this blog, we will explore the top five things that you should do when you’re ready to make the move to start your own business.
Brainstorming is simply a technique used to stimulate the creative ideas you have by way of an active discussion. When you brainstorm, you should make sure that you write down these ideas so that you can go back to them at a later date.
At the brainstorming stage, you can forget about the formalities and just be as raw and ragged as possible. After brainstorming and getting everything out of your brain on to paper, you can then ‘flesh out’ your jottings and make them into proper points and objectives.
When it comes to brainstorming, there are four rules that you should definitely follow. These are:
· Focus on quantity
· Avoid criticism
· Encourage wild ideas
· Combine and improve ideas
Out of the information that you wrote down from brainstorming, you will then be able to create a business plan. There are a few steps involved in creating your business plan. Depending on the type of business that you are creating, some things will apply to you while others will not.
Every business plan, however, needs the following:
· An Executive Summary
· The Opportunity Section
· Execution or Implementation Plan
· Financial Plan
The important thing to remember when creating your business plan is to keep it simple and not to feel intimidated or overwhelmed.
Registering your business is very important. It allows you to legally hire your employees.It also allows you to access loans to get things off the ground and up and running. Most importantly, officially registering your business shows your customers that you are a legitimate and helps to establish your reputation.
Having a Limited Liability Company (LLC) means that you, as the owner, are not personally responsible for the company’s debts and liabilities. These days, many start-ups are registering as LLC’s because it is a much simpler way of going about things. The structure of such a business is straight forward, the members of an LLC are protected and the tax structure is one that is easy to handle.
The final step is to put your best foot forward. Be sure to step out in confidence when you are ready to launch your business. No one will know you business like you will. So, block out all the outside noise and get going.
I am Aubrey Lang of Idle 2 Idol. I hope that you found this content useful. If you did, please visit my website for more great discussions on similar topics.