You have dreamed of starting your own business for years and now you have the money to actually take the steps to do it. What should you do first to get your business going? If we are not careful, the money is gone and we still are not in business. We have compiled our list of the top 5 things you should do to secure your investment and launch your new business.
- Create a Simple Business Plan
The first thing you should do is map a short plan that includes your business concept and what is involved for the first 6 months. For example, what will it cost to produce, how much can you sell it for, and how long will it take to complete? Try to project from 6 to 12 months for your business.
- Select the Right Name
With today’s competitive online market, selecting the right name has never been more critical. Your business name will most likely become your website name, which means your name will be lost in cyberspace if the keywords are too broad or too specific. Finding the right niche is extremely important. You can do this yourself or spend some money to hire a consultant.
- Build a Professional Website
Your website will be your storefront for your business, so do not cut corners on design and function. A chunk of your start- up money will go to your website development but it is a worthy investment for the long haul, especially if you are selling products from an online store.
- Plan for at least 3 months of Marketing Budget
The goal is getting people to find your new business. You will need to invest part of your $5000 in a marketing plan for at least 3 months. The marketing plan should include an extensive online and social media plan, not expensive pay per click (PPC) advertising, but solid organic SEO (search engine optimization).
- Start Building Your Network
To grow your business, start using the numerous opportunities for social media networking. Make sure you have business pages, not just personal pages. Invite people to join you and start interacting through these networks on a regular basis. Let them know about your new business and what you are offering. Register your website with online directories and search engines.
Anyone can start a new business on $5000 if you take the right steps the first time. These 5 things will ensure that you are off to a great start to success. When in doubt, seek professional consultations and take your time.
About the Authors:
Tonilee Adamson and Bobbye Brooks are co-owners of Media 4 Women Enterprises, a marketing and media company that helps people achieve entrepreneurial success. From website design, video production, book publishing and social media marketing, Tonilee and Bobbye work with individuals and businesses of every type. Visit www.media4women.com to learn more about their services.