Friday, July 25, 2008

The Big Idea in your head--now what do you do?

You are considering opening a small business. Congratulations! You have taken the first step in a process of being in charge of your own income. Scary doesn't begin to describe it but think back to when you first learned to drive. That was pretty intimidating, wasn't it? All those big, heavy metal machines able to crush you at your first mistake. But you mastered it, right? Well, it takes practice, experience, and motivation to learn how to accomplish your goals so if you have begun to ask questions, you will begin to get answers.

Start with a checklist--
pack your entrepreneurial back pack and be prepared for this journey!

There are some very important tasks you must address (whether for a home based business or a small retail business or an online business). Once in place, you can truly concentrate on your ultimate goal--making your small business succeed.

You will hear that you must create a "business plan" as the very first step. Don't get too intimidated by it. It is more of a "rehearsal" for the business you have chosen to launch. The following check list will open your eyes to the absolutes in starting a business--a business plan will fill in the blanks of questions you never knew were to be considered.

A business plan is never straight forward--you must let it evolve as you explore this wonderous idea of yours. It can help you make real choices on paper before hanging out that shingle. You will evaluate everything and find answers for yourself and for those invested with you. Think of it as a roadmap but with detours and scenic routes that will all take you to your destination no matter what turns you take. Start with sample business plans from other similar businesses and get an idea of what to expect.

Before you get too overwhelmed by the business plan,

put it aside and come back to it after doing all the "must do" tasks we will cover one by one in this blog. Post your comments and questions about each step so we may cover the subjects in more detail.