Businesses are all around us. We witness it on a daily basis. We get inspired. And we support.
Starting with our own business, on the other hand, is a more daunting path to choose. It is a whole new world opening. You come across things you never would’ve thought forms part of such a journey. Because through witnessing other people building their business, you just get a sneak peak of what it is actually about. You have a passenger’s seat, now and again also wanting to throw in come comments and “helpful tips” to the driver, being the business owner. You learn from them, you spot a few things you will do differently, and for sure admire their journey of long hours and investing into their business.
What about starting my own business?
Have you ever considered going in that direction?
A business idea is not something that forms overnight. It can start with a hobby that you’ve been practicing for a while, perhaps something you are passionate about or even from a conversation you had.
It is also then something that starts small and grows over time. Going full-time into a startup business is not always possible or advisable as it takes time to establish your business and generate enough income to cover necessary expenses. Consider starting a business on the side, partnering with someone that shares your vision or get more exposure in a certain field before starting a business within it.
There is definitely no right or wrong way of going about it.
But yes, there is a lot of mistakes to be made and growth to occur.
But it starts with the business idea.
Perhaps consider establishing a business plan. An opportunity to gather a lot of thoughts, research, goals and business descriptions within one document. A Business Plan is the best tool to get some guidance for yourself (https://www.bplans.com/downloads/business-plan-template/).
It requires from you to get to know your industry in which you will be providing a product or service. You would need to have a clear description of your product or service. Analyzing your competition, setting long- and short-term goals, establishing team roles as well as setting your expectations in place around finances, is some of the things you already set out within a Business Plan.
Yes, it can get time consuming. And frustrating. Even ‘langdradig’.
But the one thing it definitely is – NEEDED.
What will be other good starting points for a business?
A Business has a variety of facets.
Especially if it is only yourself from the beginning, you will be required to attend to a lot of different tasks – finances, admin, providing products & services, website designs and marketing.
So be equipped for this but if a certain task is not a strength of yours and it can take you up to 5 hours to complete where an expert can do it in 5 minutes, rather reconsider: Is this really a necessary task or project for now? How can I grow in improving in this? Or is there someone else that can do this for me? #outsource.
For me this was a lot of things! Designing and drafting my website, doing marketing and delivering the services. But I knew from the start that I am good with organizing my time, doing admin, finances, networking and building relationships with clients. I also new which services of the business I’m more equipped to render, such as Career Coaching and Accounting classes (the two I am definitely most passionate about!). I am fortunate to have a Mastering It Team to help with other services.
Two very important (and user-friendly!) apps I can advise young business owners to use:
1. Wave Accounting (https://www.waveapps.com/) – great for Invoicing and doing your finances.
2. Timetree App (https://timetreeapp.com/intl/en/) – keep track of your meetings and events! There is also the opportunity to share your calendar with someone else – perhaps your team members, friends or family members.
How can I grow in becoming a better Business owner?
My number one advise – read, read, read.
I got so much equipping done through free articles and resources on the Internet.
3 great articles that helped me:
Off course doing a few online courses will help as well!
Have you tried searching on Udemy.com?
At the end you most definitely determine what will work best for you.
No business is operated in the same manner as another.
So perhaps get some mentors onboard. Don’t be afraid of asking for help. And don’t be to hard on yourself 😉
And embrace the journey!
Want to know more about my Business, Mastering It?
Feel free to visit my website – www.masteringit.co.za
I am really enjoying this journey and its been stretching me a lot!
The article I posted was thoughts, learning curves and stories from my own experience as a Start-up Business owner. We especially grow through other people and learning from them.