This is a collaborative post by Ellie Jo about taking the first steps to start a business.
All of us have in our heads the best quick-rich scheme we think we may follow if everything else fails. Perhaps we’ll become a fitness influencer, or sell our patented recipe ideas, or form that complex company with the most innovative insight possible.
However, all of this simply remains a theory until we start taking a step out with actionable results.
When we think of doing this, reality can start to slap us in the face. It’s the equivalent between imagining us diving from a high diving board and actually doing it, crashing into the water in the deep end with true surprise.
Taking that first step out to business reality can be a great idea for many. It could even help you overcome a fair few issues you may have experienced while pending your action. With these tips, you can pull you out of your shell to find something worth getting excited about. This might be required to overcome your nerves.
First Steps to Starting a Business
Finding Your Partners
A business can be run with a solo entrepreneur at the helm, but it is much easier to split duties and specialisms if you have partners by your side. Taking that first step out to focus on your true business development means being on the same page with said partners.
It also means being crystal clear as to your roles and responsibilities and also what financial role both should occupy.
If you have hired someone to help you with accounting and marketing, for example, it’s likely that you will not reward them with immediate partnership simply because they were there when the company was formed. It’s these discussions that are important because this could become a legal battle.
Forming The Company
Forming the company is an important measure that is one of the first milestones you will ever achieve. Of course, doing this is more than possible before you have a plan for revenue or even a fully credited patent. You can form a company at any time, but you must be highly aware of what that will take and how much it may cost to register.
After all, if you’re going to take a risk even establishing this operation and moving forward with your time and energy, you need the first steps to be as secure and well-trodden as you can make them, much like the foundational cornerstone of a building.
Drawing An Audience
There are many business considerations that can often feel like they are just an exercise to be completed. For example, drawing an audience and making your establishment known. We may have read many business guides about how to look appealing, how to brand yourself well, how to stay consistent, how to manage PR.
Right now there are thousands of subcontracted writers tapping away at their keyboards to provide you with that information, or bloggers using their experience to provide further insight.
However, drawing an audience is not a formula. It is not 2+2=4. You are dealing with complex, real, thinking people that communicate, that can share their impressions, that may need a company to set what is cool for them, or to be collaborative with said audience to that end. In that respect, it’s important to consider the magnitude of what you are doing.
This can help you choose more personality-centric marketing approaches, to avoid the faceless and boring paint-by-numbers measures you usually consider when ‘playing it safe’. Taking that first step out to business reality can help you achieve this to a much more heightened degree, and to us, that’ an exciting prospect.
Dealing With Roadblocks
You will face challenges. Some things will come out of nowhere. It could happen that you hire a staff member only to find out they weren’t as solid as you first thought. You will take missteps with your PR. You will find faulty products. A staff member may break half of your inventory by driving into a storage area with a forklift.
Remember, if you are not prepared for these challenges, you are not prepared for business life. Dealing with roadblocks is simply part of the game, and you need to accept that and prepare for them as much as possible.
When you keep these attitudes to heart, you’re sure to make reality an integral part of your business planning.
Rachel is an Austin blogger, educator, mom, wife, young breast cancer survivor writing about health, saving money, and living a happy life in Austin, Texas.
Rachel has written for HuffPost and Hometalk and has been featured on KXAN, Studio 512, Fox 7 Austin, and CBS Austin.