Do you have a genius idea that you want to share with the world, but the risks are too numerous? Even if your entrepreneur dreams are risky, it’s still worth giving it a try.
It only takes 30 days to launch a product or service, and if you are equipped with enough grit, your business could allow you to leave the rat race behind. It all begins with some market research to determine if your concept can sell. There is no use in starting a business if if isn’t profitable.
Next, write a business plan. You can get free help from the Small Business Administration and its organization SCORE, which is the nation’s largest network of expert business professionals, who help people get their business going. The 10,000+ volunteers within SCORE have helped more than 10 million entrepreneurs get their start.
Follow these five steps to creating a great business plan:
- Develop a super idea for a service or product.
- Search for a mentor to help you write your business plan.
- Submit a mentoring request to a professional who is familiar with business plans.
- Begin working on your business goals with your mentor.
- Work with your mentor to get your business started, and throughout the life of your business if required.
After you have crafted your business plan, you will need to hire a lawyer, accountant, and other professionals who can help you with your insurance, permit and legal needs.
Next, find a good location for your business. Most experts recommend selling on the Internet to avoid overhead costs, but if you want a storefront, you’ll need to figure out how to afford it. Then you can perfect your brand, build a digital presence, set up online sales and craft a marketing plan to gather customers. Click here to find out what it takes to be a small business owner, and here to find out where small business thrive.
