The new year is fast approaching, and with that comes fresh motivation for new ambitions and also resolutions. Perhaps you are considering starting your own business. While this is a fabulous and exciting goal, you may also feel hesitate or even worried. However, this kind of fear is a positive thing because it means you’re taking it seriously and will give it due diligence. As you approach the idea over the coming weeks, think about these tips for starting your dream business in the new year.
Start Your Dream Business #1: Make a Clear Plan
You may have had a business idea for some time and even nurtured it before deciding you want to take the plunge. This is fantastic! In addition to pondering an idea, one of the first things you need to do before opening your doors is to create a clear written business plan.
Depending on the type of business you want, this plan needs to include goals, mission statement, financial predictions, and market research, among other important data. This will take you some time to gather and organize, so don’t beat yourself up if you have to wait several months to get to the next phase. Do reach out to a business consultant or savvy friend for help if you need it. There are also some good business plan templates online to get you started.
Starting Your Dream Business #2: Set Realistic Goals
Starting a business isn’t for the faint of heart. It almost always requires more time, money, and effort than you think it will. Furthermore, you may not get the results you expect in the time you set. It’s imperative to set realistic goals and an action plan that works for your present life. This is especially important if you have a full-time job and a family. Know that it may take you longer to get things off the ground if you have pressing commitments elsewhere.
Be gentle on yourself as you work through the beginning stages of planning and building your dream business. Consider every step a victory and reward yourself for reaching milestones along the way.
Starting Your Dream Business #3: Work When You Are Most Productive
Once you have your plan and goals in place, it’s time to set appropriate action steps to get things rolling. If you have to continue with your day job, finding time to work your plan could get challenging. I recommend setting a schedule that allows you quality time to think about and set up your new business. It helps to choose productive times of the day if possible. In other words, don’t give your dream business leftover scraps of energy and time. If your “good” time is first thing in the morning, get up an hour earlier and work on the business. If it is at night, invest some time in the evening to bring the dream to life. Most importantly, be consistent.
Starting Your Dream Business #4: Place a Value on Your Time
It is important to place a value on your time early on. It can be tempting to want to work on every aspect of your business straight away, but this can be counter-productive. I recommend that you know where your strengths are and go forward with those areas first. If needed, you can always outsource other aspects of the business you are not savvy in. I definitely suggest that you read more about the various support you can get. It might be that you want someone to manage content on your website or social media platforms so your content can remain consistent. Outsourcing can help you to focus your time on the areas where you can make the most difference.
Starting Your Dream Business #5: Have a Designated Space to Work In
When you start a new business, you may be working from home in the beginning stages. If this is the case, commit an area of your home for business only. This also means letting your family or roommates know your schedule and expectations. It’s important to have privacy and quiet, so use a spare room with a door if you have one.
If you don’t have any space in your home, consider renting a small room from another business or sharing office space with a friend or family member. This will help you to take your business more seriously and be consistent with your time spent working.