The economy is in the crapper and only getting worse. You may be wondering if you’ll be the next to be laid off, as you tread water until your next paycheck. The job market isn’t getting any better, despite the trillion dollars recently spent to do just that. So what are you to do?
If you’re not in a financial situation to start your own business, this post is not for you. However, if you’ve been laid off or have managed to save a little cash and have always wanted to work for yourself, there’s never been a better time than now to see if you can do it. Do you have mad public relations skills and want to see if you can make a go of it on your own? Do you have a product or service you think consumers just can’t live without?
You may fail miserably, but you won’t know whether you can do it unless you try. Sure, there are plenty of things to consider and below are a few steps to help get you started, or, at the very least, decide if starting your own business is truly for you. What have you got to lose?
Get inspired. You don’t need a million dollar idea to start your own business. According to the Small Business Administration, 55% of female business owners are in service-oriented professions, such as interior designer, personal chef or personal shopper. These types of businesses are appealing because you don’t need a lot of start-up cash and buyers pay up front.
Get a mentor. There’s nothing more empowering or conducive for boosting self confidence as talking to other women who have paved their own paths to success. Networking sites like www.LadiesWhoLaunch.com, www.MomInventors.com, and www.MakeMineAMillion.org offer profiles of other female entrepreneurs. If you are interested in one of their stories, send an email. You’ll be surprised how happy people are to tell you how they made a go of it themselves.
Another option is SCORE (www.Score.org), a network of working and retired execs who share their expertise free of charge and match members’ specialties with a new entrepreneur’s needs. The Women’s Business Center Program (www.SBA.gov/womeninbusiness) provides training and counseling at low costs or for free.
Do your homework. Get online and search your area to see how many other companies offer the same product or service. If there’s competition, scope it out-check out their prices, customer service or any other things they may not be offering.
Create a business plan. Writing a business plan will force you to consider any costs or details you may overlook when planning your business, and help determine exactly what you will need to charge in order to make money. You can find templates online at www.SBA.gov.
Market yourself like there’s no tomorrow. Get the word out about your business by sending an email to your friends and family and ask them to pass the word on. Next, turn to organizations you’re already involved in-Rotary, Kiwanis, PTA, recreational sports league.
Save on expensive advertising and give away free samples of your product. Getting in front of people is the best way to get your name out there. If you’re offering a service, offer at a discounted rate or for free to friends and family and encourage them to refer your work to their friends.
Good luck!
Photo by AdRocket1
