The start of a new year often inspires aspiring entrepreneurs to dip their toes into the world of self employment. Here is my top list of things to consider as you move toward launching a business.
1. Have you researched your market? Is there a need for your service/product? Who is your target audience? Who is your competition?
2. What is your unique value proposition? Why should people come to you rather than any of your competition?
3. Do you have the finances to carry you through? Generally speaking, it's recommended to have 6 months worth of expenses saved to support you. Do you need additional financing?
4. Running a business means you have to be everything. You might be a great craftsperson, but you must also be CEO, accountant, marketing expert, salesperson and so on. Are you prepared to wear all hats?
5. Create a business plan. As they say, "If you don't know where you're going, how are you going to get there?" Set goals, strategies and follow them.
6. Seek professionals to help you along the way. Don't ever guess and take unnecessary risks with your business. Hire an accountant, a lawyer, a coach and other professionals who've been there and can provide the professional advice that may well save your dream.
7. Connect with your local Small Business Administration. They are a great source of information, guidance, and training for aspiring entrepreneurs.
8. Get started. Above all else, turn your dream into a reality!
Here's to following your dreams and having success in 2017!
Andrea made the choice to leave the corporate world in May 2013 to pursue her dreams.