Many potentially successful entrepreneurs stop in their tracks when they start to think of all the steps involved in starting a business. For most, the primary concerns start and end with time and money. Luckily, many successful entrepreneurs have gone before you and are willing to share the tricks of the trade. Here are some things that take basic considerations to the next level and how to address them.
Time
The other part of the equation that will make a big difference in your first years of business is time. The entrepreneur’s secret to time management lies in knowing how to use it wisely.
- Make a schedule for every day – If you don’t allocate time, you may start to lose balance and fall into the all-work trap. Set aside time for personal activities and exercise every day, and get the sleep you need to perform at the top of your game. Fuel your body right and it will endure through the hard times of operation.
- Lean on people you trust – Manage your daily operations by asking your support network (close friends, some investors, and relatives) to help you out in the beginning. Have someone run to the grocery store or complete a personal task while you’re busy so that you can make the most of the early months of operation.
- Make every interaction count – Put your game face on in public. Your job is to shamelessly promote yourself and your venture. Talk to people at the gym, in line at a store, or anywhere you go.
Tools
The right tools can facilitate everything from your daily scheduling to improving conversion rates and optimizing your website. While you may not need every bell and whistle in the beginning, some tools are very helpful for startup founders.
- Booth – Route calls to any phone, so that you never have to hand out your personal phone number again. When you start to build your sales team, Booth also helps you funnel calls to the right employees. The scalable option is perfect for startups and any growing companies.
- Google – Google offers many free tools that entrepreneurs can take advantage of, from project management platforms to email, Google Drive, analytics, and more. Head over to Google’s website and start exploring their free services to find the ones that will really help you.
- Networking tools – Sites like Meetup can help you choose places to meet new community members for networking or pitching your organization. Go to learn something new, then teach other members what you have to offer!
People
In addition to other resources, you will need access to people who can help you stay accountable. Even if you don’t use these professionals’ services often, having access to them can help you plan for your short term and long term goals.
- Lawyer – Make sure your lawyer is experienced with entrepreneurial ventures. Most lawyers can write up contracts, but the best ones will offer so much more, like the best way to organize your infrastructure.
- Accountant – Before you hire an accountant for your company, consider seeking out an accountant’s advice to help you manage your budget, run numbers, and work out taxes. Even if you haven’t gotten your business up and running, an accountant can offer valuable information on securing business licenses and tracking expenses.
Funding
Funding is one of the most crucial factors to starting a successful venture. Today, the entrepreneurial landscape is full of different funding methods. In addition to taking out loans or finding investors to pitch your business plan to, consider some of these funding sources:
- Trade equity – As a startup, you may not be able to pay for an extra helping hand in the beginning. Instead, you may be able to secure the work or services that you need by offering a stake in your business, use of your space, or offering a free sample or service.
- Crowdfunding – Get the world involved in your plan by posting for help on Kickstarter or another crowdfunding site.
- Angel investors – If you’re close to a large, urban environment, you may have access to individuals who are willing to pool their resources to help out entrepreneurs like you. Try using a website for locating angel investors like Angel List or Gust.
With core considerations and perseverance, you will successfully launch your venture and discover the tricks of the trade. Every startup story is different, but they all rely on time, money, people, and the right tools, along with a killer business plan to get up and running.
