How To Start a Small Business

how to start a small business

You know the feeling, sitting at your desk on your day job, feeling stocked, unsatisfied and mostly frustrated. You wish to quit but that’s your main income so it’s not a possibility. What if I tell you that you can change your situation? It’s time you take the leap and start your own small business. Despite common believe you don’t necessary need big savings in the bank to launch your business, you don’t even need a college degree or actual business experiences. Those things do help, I’m not going to lie, but it is NOT a necessity and it doesn’t define whether or not you’ll succeed. What you’ll need is a strong idea turned into action. This mean that you’ll need to be able to set a goal and have a strong plan and motivation behind it to make it a reality.

The business idea

First of all you need to set what your business will be about. This is “the business idea”, this idea will be the answer to one of the following questions: what product/service can I offer that is not in the market right now? Can my product/service solve a common problem? Other people have done this thing, can I do it on a new way that makes it faster, cheaper or better? Does this product/service matches with the lifestyle that I have or want? Once you have answer this questions you will have a better gasp on what is your idea. Here comes the researching part. Now that you have establish what you’ll do, it’s time to do some research on the subject. Try to learn everything you can about the topic and assess similar business, market needs, growing potential, permits and legislation, and more! The more you know, the better you can establish a strong business plan.

Wheel have start moving

Now that you have clearly set your idea into motion, you’ll have to plan your finances. While it is true that you don’t need to have money to start a business, you’ll need a small investment. You need to cover initial expenses such as permits, inventory, advertising, legal fees and more. Before you quit your day job you’ll have to had establish how you are going to sustain your business in the early stage. This can mean to ask for a loan, reduce expenses, get an alternative income or even get a partner. Now that the wheel have start moving, remember what is your goal and what motivates you out of it, you need to have a strong will in order to keep moving the wheel.