2012 resolutions are on their way out and 2013 has been knocking on your door. If you are reading this article, more than likely you have decided to buy or start your own small business in the New Year. This can be both exhilarating and terrifying. Starting a business is not like setting up another New Year’s resolution to lose 15 pounds. This will impact your financial future and that of your family and everyone involved. In order to keep this new goal of yours on the exciting side, here are four tips to starting your business in the New Year.
Starting A Business? Do Your Research.
This does not mean spend the next six months with cold feet using research as an excuse not to get started. This means search the internet, conduct surveys, read studies, attend trade shows, and checking out other businesses in your area doing something similar. Spend some time focused solely on your research so that you are both thorough and expedient. So many businesses lose their steam before they ever come into existence. Don’t allow that to happen to you. Find your momentum and stick with it.
Take Your Business Ideas Out for a Spin
Once you have a list of possible ideas that you have taken from your research, test them as quickly as you can (remember, we’re trying to keep the momentum up). Don’t be afraid to try things out on your first few customers. That’s right; you’re actually going to start selling what you offer. Your first customers will teach you more about your business than years of surveys. But be prepared to take some of your ideas back to be reworked. Not everything you try is going to be a slam dunk (even McDonald’s sold some bombs, just check out the Hula Burger).
Monitor Your Progress
It’s always a good idea to track your progress, but when you’re starting your own business, time is extremely important, so monitoring your progress against a timeline will help you stay on track. This is also a great way to take note of those major milestones in any business. It is always nice to know that you’ve hit them, but what’s even more important is knowing when to adjust your plans if you find yourself missing them or heading off course.
Support, Support, Support
It may sound a bit cliché, but everyone needs support. Especially when undertaking something that is so consuming like starting your own business. Having someone that you can talk to who understands what it’s like or who can offer you real life suggestions when you get stuck is invaluable. When you have someone who is supporting you like that, you begin to feel accountable and it can be a great benefit to know that there is someone other than yourself to whom you need to own up.
Starting a business can be a risky venture. It can also be one of the most fulfilling things you do with your life. Take the necessary steps and don’t go into it blindly and your new year will have the best possible start.
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