Home business How Do I Start My Own Business With The Little I Have?

How Do I Start My Own Business With The Little I Have?

211
0

So thinking of starting your own business? I believe this article could be of help to some of us who are really looking forward to starting our own Businesses.

I would share some nuggets that might help inspire us to start taking one step at a time to get to where we desire our Businesses to be.

1.) Partnership and Collaboration: One of the most important things you need to do is to find people who believe in the same things that you believe in. What I mean by this, is to simply surround ‘you’ with People or Friends who feel the same way about starting a business.  When I was about to launch my first startup which was technology based for college students and recent graduates.

Therefore, I reached out to a friend of mine who was very tech savvy. He actually has a masters degree and bachelors in computer science. We teamed up and created an excellent masterpiece. We built an Android application, Website and an IPhone application.

Unfortunately, we could not get the right angel investments to partner with us, which led to the demise of the startup.

Now, if your main challenge is getting funds or being able to fund your desired business to spring up, then collaborating with one of your friends or some of them (that you have built awesome trust levels with over the years-‘ this is highly recommended’), is a great way to proceed. This may help in keep the hope and dream alive.

2.) Leadership Qualities: Another important quality that you need to consider about yourself is  to ask yourself a very honest question which is “Do I really have great Leadership Qualities?’ Be honest with yourself because this is a very critical quality that is needed every step of the way in building your business.  Based on your evaluation, this will be a very nice period to take some leadership class or leadership training to get started on the highest positive level that you can.  There are different websites, podcasts, websites that you can actually use to get some good information. One of this is Udemy.

For me, I use Udemy a lot and there are some valuable and informative tutorials on YouTube which has helped me to acquire a lot of knowledge in Leadership and how not to run a business.

3.) Research Skills I would also like to mention another awesome quality that helped me when I started. This in itself is an awesome quality that has helped me save a lot of money and reduced my costs drastically. The Power of ‘Research’. I love research. In fact, I am a Natural researcher. I could simply find anything, anywhere in a matter of minutes. I just know how to find them. I could go on and on to expose some really cool ways to find solutions to daily business operations that could help you reduce your business startup costs. I will definitely blog about this and address this later.

4.) Now Get a Business Plan:  Your business plan is the very essence of defining your business processes, operating procedures, products, services, competitor analysis, market research, and financial forecast. These things can be daunting and challenging as it involves a lot of details. I will not be expounding on these today but definitely, will be giving out some hints on developing your business plan for your startup.

5.) You also need to meet basic legal requirements and register your business with your local government council or tax office.

6.) Run the business with your personal funds for as long as you can. Avoid debt if you can. You do not want to run your business in debt. I am a believer in peace of mind and this is very vital.

I will be expounding on some of the points listed above in order to shed more light to provide more information that would help us in making the best decisions for our businesses.

 

Facebook Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here