Strategic Planning

2 Simple Steps Before Starting Your Business


There is so much small business information available today that it's easy to be bogged down by the sheer volume of it all. Where does one start? Well, it's safe to say not all the information you'll receive will be of equal value. So it's important to be discerning when you're thinking about applying any suggestions to your new business. In many cases, you'll find some suggestions don't match your business type, management style, budget, or industry. This could lead to wasted dollars spent and time lost. So learning how to research and compile information will be key in developing a plan that is tailored to fit your business needs.

What I suggest is a methodical and basic approach to starting your business. No matter what the industry, in most cases, these two initial steps will always be the same.

  • Take a crash course in small business. There is no better place to start then sba.gov. Not only will you find dozens of free tutorials on business planning and managing but you will also find important information regarding legalizing your business in respect to your location and your industry. In addition, you will find links to other leading small business sites and resources. Visit the site and remember to bookmark this page. Try to develop a schedule and visit the site on a regular basis to familiarize yourself with small business ownership and all its related issues, regulations, requirements, and rewards.
  • Network with other small business owners. Join community websites specifically geared towards small business owners so you can find solutions to common problems such as time management and financing. It's also the best way to build a support system while you are planning to launch your business. Some entrepreneurs give up because they feel they are going at it alone! But there are so many other people out there going through the same challenges and are more than happy to assist you.
  • Don't let your confusion or the amount of information available overwhelm you into paralysis. Once you've gained knowledge on how to become a successful entrepreneur don't stop there. Each day try to work more and more towards formalizing your plans. And don't be afraid to ask for help. Remember, you've got a lot of work ahead of you but these first two steps will ensure you don't head into entrepreneurship ill-prepared.

    Copyright 2005 Rhonda Winn - All Rights Reserved. Rhonda Winn has been helping small business owners since 2000. She is the author of the popular eBook, "How to Live Your Dreams and Achieve Unlimited Wealth in Small Business" Receive the first chapter free, when you join her bi-monthly newsletter today: SmallBizStartupKit.com.

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