Author: Cassidy Cox
Starting a business is no small task. It requires work ethic, willpower, structure, and overall money. There is a multitude of steps that go into a business. Where to start can be the most difficult part. Starting with these 5 things can help you get where you want to go
1. Your Purpose
Every business needs a goal and a niche. You need to know your brand’s purpose better than anyone. If your brand has no purpose it will dwindle. To figure out your company’s purpose, ask yourself these questions. 1. What is your business for? When someone is looking at your business what do they see? What do you bring to the table? 2. Why do you do it? Know your passion for your business. Everyone has a reason why they do something. Does your business run to bring joy, help those in need, and maybe help people learn? You decide.
2. Mission & Values
Your business needs a mission and values. Going into the business world without a foundation will take you down a rough path. You need to know what your business boundaries are. Think about what you want your employees to know and follow. Your mission should define what your company strives to do. Look back at your purpose and design a mission to market for your business. For example, if you are a wedding coordination company you might have a mission similar to this. “We exist to help bring magical weddings to life through design and endless creativity”. A mission is very important to your business. It not only resonates with your employees but it also is a great first impression with customers.
Values play an even bigger role in your business. Having a set of values sets a standard for your employees. Values can be anything from honesty to innovations. You want to pick values that help make your company better. If your employees follow and believe your values your customers will see them.
3. Legal Protection
Every business needs to have legal protection. You never know what could happen to you when working with customers. You need to make sure, as a business owner, that you have contracts in place for services or warranties in place for products. Lawsuits are not something anyone wants to put up with. Take the time necessary to get the legal protection you need for your company. You will thank yourself later.
4. Proper Budgeting
Some businesses fail to budget and prepare for the unknown. It is extremley important to budget with the mindset that things could go of course. Everything you do will not be perfect. You need to make sure that you are putting in a financial buffer for these things. Always over compensate your budget. If your budget is too tight, maybe it is best to take something out to allow for your buffer. Somethings can wait till later when you are first starting your business.
5. Marketing Plan
You need customers to run a successful business. Without them you do not have anything. Sit down and decide how you are going to capture their attention. You need to take the time to get to know you customer. What are the people you are targeting looking for. You want that to be your product. Market your product to the customers that will use it. This could be through social media, commercials, brochures. Its up to you to figure out what is best.
Implementing these five things into your business is so important. Start your business off strong with not forgetting these steps. Best of luck on your business journey and don’t give up!
