Greetings and welcome to “Business Business." In 1996 with no business knowledge whatsoever, I took my first attempt at beginning my first business. It may not have been financially successful, but it was certainly packed with wisdom, knowledge and lessons that have produced a keen business sense. Over the course of 30+years of working in corporate America I've learned everything from A-Z of how to operate a successful business. Couple this with over 24-years of launching several businesses and helping others to launch their businesses, I think I now have a pretty good handle on starting and operating a successful business and that I can help you to do the same.
Early on in my entrepreneurship I had the pleasure of helping a few people with starting their first business. What’s shocking to me now is as I look back in hindsight, I realize how much more I needed to know to effectively start and operate a successful business. I was not fully aware of how important it is to have a solid foundation to launch from.
Like most, when I started my first business I thought all I needed was a good idea. I didn’t know there were City, State and possibly Federal requirements that were legally required. I was also not aware of the various business structures, insurance requirements or the do’s and don’ts to hiring employees. I also lacked knowledge in the marketing aspect of business, such as the importance of logo design and what a logo represents and conveys. I knew nothing about having a marketing plan or strategy.
Unfortunately, what’s even more shocking today, is I still see and speak with people who are launching start-ups with no knowledge of what is required. I see poorly designed and written websites. Unprofessionally designed corporate identity packages, if there are any (business cards, brochures, etc.), and logos that have no connection whatsoever to the business itself. I find that many people really have no knowledge of branding and what it means have a brand, and effectively use it.
The Business 101 counseling course, which is coupled with my Life Purpose and Goal for Success Coaching is for individuals who want to start their own business. You may be a person who has a good idea and think you can make it a successful and thriving business. You may be the new entrepreneur, who like me, jumped right in with both feet, no life jacket; totally unprepared, but kept going and learning with each step. Regardless of what category you may fall in, I believe this course may be a big help to you! This course is also for to the seasoned business owner who may need a refresher course.
My goal with “Business 101: Back to the Basics” is to aid individuals who desire to start their own business with learning and understanding the basic requirements in starting a business. This course will provide you with the tools you will need to get started. I promise, if you do your due diligence, take your time, plan properly and research, research, research, you can and will succeed as a business owner.
BEFORE YOU LAUNCH INTO THE DEEP – Let’s Connect
There are at least (10) questions you should consider prior to launching your own business. They are:
Is there a similar idea or concept on the market?
If so, where is it located?
How will yours differ (what is your niche)?
How successful is it?
Have you done any research on the sustainability of the business, including the competitor? (I cannot stress enough how important this is. RESEARCH, RESEARCH, RESEARCH). This is paramount.
Do you know what regulations are required for you to not only start but to operate your business legally. You will need to know the requirements in your city, your state as well as any federally required regulations.
Who is your target audience/clientele/customer, (age, etc. this is important). Including the demographics?
Do you have a budget for your start-up and enough cash flow to float you for 12-24 months? If not, what is your contingency plan to help cover your start-up expenses?
Have you considered business insurance? There are many components to consider when discussing business insurance: location (are you running your business from your home? If so, you have other things you must consider regarding business insurance). Are you leasing a space? If so, this requires other considerations for insurance.
Among these and MANY other things I could expound on, I left this one, the most important one for last and I did so on purpose. Here's why, many entrepreneurs brush over this one far too quickly, if they consider it at all and this is due to the initial excitement of starting their own business. WHY? Why are you considering starting your own business?
After you have answered the above questions, I can assure you, you will KNOW beyond the shadow of a doubt if starting a business is something you really desire to do. While being an entrepreneur is exciting and eventually rewarding, in the beginning it's a lot of hard work and will require discipline, commitment, dedication, perseverance and resilience just to name a few attributes needed for the entrepreneurial journey!
Register for a 4-week/16-hour One-on-One Session