Different people tell me different things about the startup process, but with these tips, you’ll be able to kick-start your small business launch and be profitable faster.
If you ask 10 people what the process should be for starting your own business you’ll probably get 10 different answers.
Even in the content that I put together for my startup coaching with the Dream/Plan/Execute process, it’s put together and formatted in a way that I think works the best.
Are there a lot of things that need to be done? Yes. Will some people have a different opinion on what’s necessary and what’s not? Yes. Are there some parts of the process that you can do without in the beginning and put off until later? Of course. Is it too hard for you to do? No. If I can do it back in 2002, you can do it too.
Certain parts of the startup process must be done. Some things are non-negotiable. But there are many things on my 60 day startup checklist that I think should be done because it will both improve your understanding of the process, your business knowledge, and improve your chances of success.
Do you HAVE to have a self evaluation done to find out your personality strengths and weaknesses? No. You can do without that part if you want to. But DOING it will ultimately help you in this small business journey so that you can know, up front, what tasks you should probably focus on, and what you should think about either delegating or hiring others to handle.
Understanding your IQ is good, and probably not that hard. But getting an understanding of your EQ, your Emotional Quotient, is not as easy. Knowing your EQ will help you understand yourself in a different manner that what you’re used to knowing. Part of being in the small business realm is knowing how to manage those EQ issues. Whenever you’re dealing with sales (who doesn’t) or customers (must have them), or delivering a message, you’re at a disadvantage if you don’t know where you are on the EQ spectrum.
On the topic of business startup finances, again, different people will tell you different things on what you need to know and what you should be doing. I recommend reading the book ‘Profit First’ before you do anything with starting a bank account because this book will give you a baseline understanding of business expectations and money management and HOW to create bank accounts and manage them in an easy to understand method. I supplemented the book with a simple Excel tool that helps me to take that concept one step further. One more time, the book I recommend you reading is called ‘Profit First’. I get nothing for promoting this book. The method just works.
So what do I recommend as part of the core business startup process? That’s really up to you and your situation. It’s not going to be the same process for anyone, but there are core aspects of the process that can’t be avoided.
• Know your ‘why’.
• Form a Corporation or get a sole proprietor license
• Develop a business plan (at least 3 pages)
• Choose your business model
• Choose your business market
• Get a business bank account
• Have a business website created
• Create business social media accounts
• Determine your products and services
• Create your MVP (Minimum Viable Product)
• Develop a marketing plan
• Select a date to launch the business!
These are the core aspects of getting started. If you need help with any of them, I’m here for you. There are many other tasks on my startup checklist that I can coach you through. You can get them on my website at www.tomclairmont.com/dream. It’s free. No email necessary. On that list, you’ll see other topics and tasks that I believe are important for your success as well.
If you decide you’d like some coaching through the process, I have a short survey you can take to help me understand your situation, just click on the button below.
It’s easy to be discouraged. Don’t give up on your dream. There will always be many thoughts and fears that we have to fight and actively set aside. Small steps every day will help you climb that mountain.
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