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Back to Basics for Starting a Small Business

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At the start of every New Year, I am huge proponent for going back to basics. It’s the perfect time to start anew and keep things simple. This mindset can also apply to starting your own small business. There are certain basics you need not only to get your business off the ground, but to make it successful.

Starting your own small business is not easy. It takes time, commitment and moxie. While dreaming is an important part of being an entrepreneur, you also need a solid foundation to build that dream on. Here are some back-to-basics tips for starting your own small business.

Create a business plan.
Every good business needs a plan. This is the most basic part of starting your own empire. Before you create your business plan, conduct some research. Look at examples, brainstorm ideas and make sure to revise your plan as time goes on.

Find a mentor.
Seeking out a professional business coach is not only a great way to learn the basics of starting your own business, but a way to ensure you have the necessary support to make it happen. For my clients, I am not only their sounding board, but their support system, cheerleader and hardest critic. A mentor is the key to making sure you’re ready to run a business like a boss.

Network, network, network.
Before, during and after you start your small business, you should be networking. Making connections in your industry and community will not only help you be more successful, but it could be the beginning of some fruitful partnerships. Don’t be afraid to reach out to people who own similar businesses. You might be surprised how willing people are to share their experiences.

Pick yourself up when you fall.
Being a small business owner requires a thick skin. At some point, you will be knocked down – whether it’s by people who don’t support your ideas, the economy or a bad decision, it’s bound to happen. When it does, you have to be ready to brush yourself off and get back up to work another day.

Have a rainy-day fund.
Nothing is perfect so when starting your own business, there are bound to be bumps in the road. Before leaving your fulltime job it is smart to have a rainy day fund. This will ensure you are able to pay your bills and take care of yourself and/or loved ones while your business is in its infancy stage. Hoping for the best and planning for the worst will put your mind at ease and let you focus on what’s most important – making your small business a huge success!

Need help implementing these basics? You can depend on me to be a top-notch mentor. Contact me for a free one-hour consultation today and start making your dreams a reality.

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