Starting a business is challenging, time consuming, and expensive. Even so, gallop polls show that most people would rather start their own business, be their own boss than work for someone else. If you are one of those people, here are five tips to help you run free!
1. Take Inventory. Entrepreneurship is not for the faint of heart. Before you invest any time and money into your idea, you should take self evaluation to see if you are really ready because the following character traits are sure to be tested: your confidence, your motivation and your resilience.
2. What’s the Plan? Now is not the time to fly by the seat of your pants, write a business plan. A business plan will provide a solid foundation and will guide you in reaching your business goals. Need a plan? Check Out the Small Business Administration business plan webpage.
3. Find investors. Whether it’s from a personal savings account, credit card, business loan or a venture capitalist. It’s important to know where the money will come from. Check out Kickstarter and Grants.gov.
4. Claim your name. If you’re serious, trademark your name and secure a domain name. Get a domain name starting at .99 cents at 1and1.com
5. Take advantage of free resources to help you launch your business. For example, free apps like evernote and expensify can help you stay on top of administrative duties.
“The biggest barrier to starting a company isn’t ideas, funding or experiences. It’s excuses.” –Sarah Lacy