Things to Do Before Starting a Business

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Starting a small business is no small decision but despite the countless sacrifices and challenges small business owners face, an overwhelming 84 percent of small business owners would do it all over again.If you’re thinking about taking the plunge and starting a business of your own, there are some key steps you need to take first.These tips spring from what I see successful entrepreneurs do and what I see those who come up short not do.

1.Focus on the customer and fully understand the market: There are many examples of companies that do not have the best product/service or are not first to market, yet are very successful because they have mastered online marketing and sales.Research the demographics of your potential customer base and understand their buying habit. Watch competitors, talk with similar businesses, browse your competitors’ websites and understand what their customers are saying about them on social media. 

2.Start small and grow: Self-fund your business idea and then go for funding when you can create a growth story. This might cause you to break up your product/service offering into smaller pieces so you can fund the early stages and get some traction and experience.

3.Understand your own strengths, skills and time available: When running a business, know when you need to engage an accountant, lawyer, insurance agent, marketing specialist, web page designer or other professional. This will start your management process as a business owner.Constant Contact offers a variety of professional marketing services for those who need professional assistance or want to jumpstart their online marketing efforts.

4.Get a mentor: If you’re not sure where to find a mentor, SCORE is a great place to start. SCORE mentors are free to find a face-to-face mentor near you or a mentor to contact via email or Skype. Also at this site are many free workshops, webinars and templates all focused on helping entrepreneurs successfully start and grow a business.You can also find mentors on sites like LinkedIn by attending a local small business meetup or just asking around. You might be surprised at people in your circles who can offer useful advice based on their experiences.

5.Have a passion for what you are doing: Being a business founder can be very lonely and there are not enough hours in the day to accomplish everything. From big successes to large letdowns, if you’re not fueled by passion at every step of the way, your job becomes that much harder. Remember why you started your business and let your passion drive you continuously.


https://blogs.constantcontact.com

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