Starting a business today typically comes with a lot of jargon that tends to detour the timid. Businesses are associated with fees, taxes and a host of skills that have nothing to do with the product or service to be sold. If you always thought you could do it better than the business down the street, fear not. Starting your dream business is probably easier than you think.
There are a number of resources out there to combat the onslaught of regulations, guidelines and procedures. Many of these resources are free or backed (guaranteed) by someone somewhere.
A great starting point is an article I found on the Internet by Andrea Townsley on Business.com. The article outlines several things to consider and places to get information and assistance for free. I’d like to echo her sentiments by saying don’t rush into spending your life savings to invest in someone else’s dream.
One popular method of starting a business is to purchase a franchise. These are often expensive and though they come with a lot of resources to ‘address the little things’ they typically come with a lot of rules that may take the fun out of your business plans.
Another method is the Multi-Level Marketing business or MLM. MLM often get a bad rap. Many offer quality products and services capable of producing phenomenal success. MLMs, however, are sometimes more difficult to get off the ground than other businesses because the initial startup can push your profits and efforts into the hands of someone higher in your network. This, again, may be a case of building someone else’s dream.
You needn’t create a brand new invention or product to join the business world. I thought this as a child. Though it worked for Thomas Edison, I don’t fancy myself to be that bright. 😉 Retailers are the best example of reselling existing items for a profit.
My best advice is to love what you do. There is an army of free or low cost resources out there to help you get started. Start with your local Chamber of Commerce. They have resources to help in all aspects of business. Realize this is where the like-minded are. Check your state’s Secretary of Commerce, your city’s department responsible for small business development or local SCORE office. These offices have information to help you.
It is important to remember that communities depend on commerce for their success. As such, most communities have a wealth of resources available to increase your opportunity to succeed.
Business plans are a great place to start. They are not as difficult to complete as many might think. This is the computer age. Templates for business plans are available in most packages of Microsoft Office, or on the Internet for free. Simply add water, adjust to your flavor of business and go.
I warn you to not spend a lot of money to get started. If someone has a business in a box ready to sell you for a bunch of money ask yourself what that box includes. Chances are you can find the resources in that box for free or low cost somewhere else with a little effort. You can always set an appointment with you local SCORE office to ask if the resource or plan you’ve found is a good investment of time or money.
In short, a little home work goes a long way. Rushing in to start a business can end it before it begins. Do your homework and watch where you point your dollars before you head down that road. After all, regardless of how long you’re in business you’ll have to protect your investments and budgets; it only makes sense to start your business that way.