The Hard Work Begins…

Posted by Tisha Tolar on December 5, 2007

The holiday season is here…time to play catch up!

Now, you’ve got your ideas swirling in your head. You’ve found your confidence and you are raring to go. But where do you go next? This is the hard work part of it all – the business part. I will admit that just thinking about doing the business end of things on my own sent me into a tizzy. There are enough twists and turns to make you want to quit. DON’T! You can get through it. We all have.

The internet now becomes your new best friend. You’ve got a lot of research work ahead of you. Business laws, market information, competition and more are all things you need to know about. It seems, at least to me, that websites are getting a little easier to navigate when filing for the appropriate business licences. For the most part, you can do many things online to register and make your business legal – depending on your type of business and where you live. But it can still be a nightmaretrying to figure out what licences you need, how to fill out forms correctly, and in general, what the hell is going on. I’ll refrain from any advice other than seek out an expert if you are really unsure. Find an accountant friend, an attorney neighbor, anyone qualified who can help you put the pieces together and steer you in the right direction. Eventually, it will all come together.

Beginning your proper registration may even be put on hold until you can figure out whether your business idea is viable and will it be profitable. Check out the competition in your area. If there are already 50 pizza joints in your area, you have to determine if your pizza joint will succeed. If you do your research and you still feel you’re ready to plow forward, make a business plan. There are tons of samples on the internet to use as a guideline and there are twice as many books on the subject. Check out the bookstores and the library for one you can follow easily. There are also companies who will help you to create a professional looking plan. However, keep in mind that the whole point of a business plan is for you to figure out step by step what you are going to do for and with your business. If you can’t plan it out, don’t expect someone to do it for you. You must be able to answer the questions the plan asks. If you do not participate in the creation of your business plan, you are setting yourself up for a long road of struggles, and potentially failure. Unless you are approaching investors from the start, your plan does not need to be a work of art but rather a strong guideline for your to follow as your business grows. It will help keep you in check and make sure you are on the right path. I have had clients who presented me with “information” the found about the industry they wanted to work in…but the information had nothing to do with their business ideas. I could not see how they would find success when they knew virtually nothing about their business.

Many people will try to get around doing all the “before”work. If you truly want to build a strong business…start with a solid foundation. If you want to start working for yourself…start doing the work!!