I was only 19 years old when I started Market America with my husband JR. I know I had passion, courage and determination but not the experience needed to start a business on my own. My husband a brilliant man had years of experience working with one-on-one marketing companies, he was a witty, analytical and a witty sale man. We started our company by trial and error but most importantly we began to gather our “dream” team of employees who were knowledgeable in each area from accounting, sales, marketing and IT. The truth is when you are starting a company, you need an overall plan, a business structure, you will need a team of mentors to guide you along the way. Someone once told me hire those who are smarter than you, they will help you grow your company and guide you along the way.
entrepreneur and mother with very minimal funds you tend to feel like the world is closing in on you and wonder if you will ever make it. Many women still feel this way, but just because you have no funding doesn’t mean you don’t have the right to dream! I knew that by sitting at home a doing nothing I was not going to accomplish change, but with the help of my brother, my husband and other advisers I dove right into business I had no knowledge of. There was nothing stopping me, I had nothing to loose I was young, ambitious, determined and nothing or anyone was going to stop me. Now people ask me how did you start your own business? Were you rich? Did you have previous experience? Did you buy a franchise? The truth is I was not rich, I had no experience and Market America was not a franchise but, I tried until I didn’t fail.
Starting a business isn’t easy but it can be fun! Here are few tips that will help you reach your goals and guide you along the way:
- Most important is to research and study your business. Whether it is fashion design, manufacturing, publishing, retail store, cosmetics or even starting your own blog, the first thing you must do is to analyze what others are doing before you determine what is best for your business. This means interning, asking questions, researching, reading others experiences and investigate your market.
- Find a mentor: Look for someone that knows more than you and that will guide you along the way. It could be a family member, your best friends, your teacher someone who is experienced and knowledgeable of your business.
- Create a Marketing plan: It doesn’t matter how great of an idea you have if you don’t have a strategic marketing plan to promote and sell your business. This is one of the most important steps when starting a business and this is the reason why so many people fail or why they become so successful. Remember people won’t know about your business if you don’t promote it. You are the best sales person for the business, because you are the business. Prepare to sell, sell, sell and get yourself out there. If you feel you are more behind the scenes, find someone who likes to be around people, tell a friend, promote to your family members, attend events and use social media.
- Create social media accounts: Social networks have become part of our daily lives, over 500 million people are logged on to Facebook. Use Twitter, Linkedin, Youtube and other social networks to promote your business.
- Lastly structure your business: Once you have researched, planned and drafted the big picture you must determine what type of business you want to open: There are many options but is up to you and your advisors to seek the best system for you. You can log on to www.sba.gov for more information.
These are some tips to ask yourself when brainstorming your new business.
- Why will you be successful in this business
- What is your experience?
- What makes my business so special?
- What type of business am I starting and what service do I offer?
- Who are your customer’s clients?
- Who is your market? Characteristics and profession?
- How can I expand the market?
- Who are your competitors?
- How will your company be better than your competition?
- What are your strengths and weaknesses?
