Maryland (BBR) - You have finally made up your mind to take the big step into entrepreneurship. Everyone else is opening businesses, right? It can’t be that hard. Owning a business goes beyond getting a business license. Here are 5 key components needed to get you on the path to profits and sustainability.
- An idea
Some people’s dreams are big and others are small. No matter how you envisioned your business, every idea has the potential to make a profit. Consider if what you want to do has already been done. What will make your lemonade stand different? And if it hasn’t been done, how can you make your special niche viable?
What drives you to believe in your product? Your customers will be believing in that exact thing. It’s important that you are in business for an idea you believe in. You will have some long nights and special challenges that only you will be able to remedy. Your passion will drive you to your Eureka moments and excite you to dig in when things get tough.
Ok, so you’ve registered the business, printed the business cards, and priced all your products. You may have even made a few sales. Now what? Check out if your local government has a small business office. Here, you will find resources to help you grow to the next level. It’s important to connect with accountants, lawyers, web designers, and plenty of other professionals who will be at your fingertips. Utilizing other professionals is equally important to the development of your business. Team work makes the dream work.
Accessing Apps for our daily chores is very common. From scheduling doctor appointments, creating handy to-do lists, to making memorable pics for your Instagram account, apps assist in all part of our lives. They can be equally useful for businesses. Scroll through your app store and choose apps that help you to organize your receipts better. Does your business need a POS system? Maybe a mobile POS can be downloaded and used for those on the go sales. No matter how much growth you expect for your business, you need to consider an electronic form of tracking and organizing fit for the fast pace society we live in.
We all think your business card is flashy and bold. But that’ not enough. You must create opportunities to use it. Conventions, community meeting, Farmer markets, fairs, and other platforms can be used to share what you do. Don’t forget to gather other’s cards too. Send introductory emails thanking them for their time and how much you look forward to working with them in the future. And while you’re at it, invite them to follow you on Social media platforms like Facebook, Instagram, Twitter, or Linked In. These are all great tools to help share the word about your business instantly. Growing a network is key! It will help you have privy access to upcoming events and customer needs. More opportunities, means more sales!
These 5 components are small in comparison to all the many things you will come across as a business owner. Owning a business is a marathon, not a sprint. Utilizing these topics will help you stabilize your business and turn profits. It’s up to you to know your market, your product and what buyers are looking for. Enjoy the journey of growing your business.