NETWORKING WAHM

Archive for May, 2010

So you have a new business you want to start? Great! I’ll share you, others helped me early on. Some of which are still helping me, as I need it.  I thought I’d share this list of  “must be done” to get started.

Once you get going with the day to day of your business,  you loose the direction you once had. All the plans you initially had in your head will be  gone.  You don’t think so, but it happens, write everything down in a notebook or or better yet out it in a  spread sheet.  Believe me once you start doing the actual business part each day,  you’ll  never remember all the creative things you thought of in the beginning. I recently found a piece of paper with some of my early ideas.  I was amazed how great my early ideas were!

It so important to have many things in place before your up and running. You will not have time later!

1. First, Research and read up on what your thinking of doing. Learn everything so there are no surprises.

2. Do a business market analysis of your area or on the net,  for what your planning on doing. Make sure there are not too many others doing the same thing.

3. Get all the tax, business name,  checking accounts, credit accounts, permits, licenses,  etc. all set up and taken care of early.

4.  Set up social networking sites. Start making new contacts and advertise for free your new business.

5.  Set up a Business plan.

6.  Set up a  Marketing plan.

7. Get good business lawyer. Look  some offer great deals!

8. Get an accountant to give you advice,  you’ll need to know for you taxes later.

9.  Make a business check list to follow.

10. Find the vendors you’ll need and who are you going to sell to?

11. Find the materials you’ll need to run you business?

12. Funding where is it coming from?

13. Think about getting an business advisor!

14. Insurance you may need some.

15. How about copyrights, trademarks or patents with your business?

16. Buy a computer, phone, scanner, etc.

17. Domain name purchase, hosting and  website development  all needs to be done.

18. Software which ones to use?

19. To much to list and the list goes on, but this a start!

Write your business plan very early on with goals – 1 yr, 2 yr, 5yr, 10yr etc.  Really think about and develop you marketing plan,  so you can really get started.

Make lots of “to do lists”,  so you don’t miss anything. I even color code mine to importance, OCD like, but hey it works, right! Do not skip ahead in steps. Figure out the order of events and how they need to be done.  Some things can be done much later and some have to be done first to build the other steps on.

As a mom take small baby steps each day towards your goal. Slow and steady gets were you want to be just fine.

I recently had a interesting conversation about just this.  We talked about how a business can grow too fast and become out of control fast. You don’t want to have hire people right away, just in case do you have some informal help? You also don’t want to forced to  sell the business you have worked hard to develop, because it’s bigger than what you can now handle.

Slow growth is important, believe it or not. You can control the business growth yourself!

If I missed something just let me know,  I’ll add it to the list. This list is just to get you thinking and planning for your future. You can be a mom and run a business, I know many who do successfully. It’s all a matter of time management and putting out the big fires first.

Perseverance is needed,  but we have this quality,  we’re Moms!

Good Luck and happy brainstorming for you new adventure!

So I had a conversation the other day, I thought I’d share.  The conversation was about business timing.  The question I was asked was – When do you know it’s the correct time to start a business? Then I was  asked,  Is  now a good time to start one?

Wow! What loaded questions! I guess I need a disclaimer just on this post! I think it depends on who you ask. Depending on if your think half full or half empty on the economy.  Your own views of the economy would reflect in the answer you’d give, I guess.

Well I have a few thoughts on this. A very humble opinion from a very humble lady.

Well we all know the economy is way down. On the other hand we all know of some businesses who are  still doing well. If your very fugal with running your business, your OK.  If  your business is a necessity, you can do well. I know of a few businesses who are doing great. They may have a business on the dirty side, but it’s a necessity.

We all know the free following money period, we went through as a nation is gone for good.  The free money for mortgages, having fun spending your home’s equity, and the easy  loans are all gone.

That being said, people who are willing to think outside the box and try new things can make it. If you have a more modest approach to doing business, you can do fine.  So if you want to start a business on a shoe string and think smarter about your spending, you may just make it through this rough time.  If you want to run out and spend tons of money on a start up company, I would hold off . Right now doing so would not be the time, you’ll be belly up in no time. Think smart and act smart with your money.

I do think this is a great time to put your ideas and thoughts together, while taking it slow. The pace to take is slow steady – baby steps. Think things out very well  before you act. This is a great time to wait out and learn as much as you can, if you want to start a business – Research, Research, Research.

We are all watching and waiting to see how the economy is improving here and there. We are seeing small signs of some improvement. I’d be real savvy.  I approach my business at all times like it’s a savings account more has to go in than out.

On a personal note, I am a talk radio fanatic. I’m a big Dave Ramsey fan http://www.daveramsey.com I love to hear all the opinions of others.  Some on talk radio, just follow with the common sense of our previous generations, Dave does. Dave Ramsey gives common sense business advice.  Radio talk shows are a great place to at least get you thinking.

I’d would love to know what your thoughts are too. So really please email me and/or comment. I’d really love to hear what your thoughts are on this matter.