How To Get A New Business Off The Ground Successfully

So you have a great business idea. Congratulations! A new business is exciting. It’s a chance to achieve something you’ve only dreamt about before. It’s a chance to make your mark. To make a difference in the world. And to make money on your terms. Launching a new business successfully takes work. If you’re ready to dig in, here are a few tips to help you get your business off the ground successfully.

Step # 1: Plan

Many people try to start a business with little more than a few notes scratched on paper. Some don’t even take it that far. They keep their plan in their head. That’s a mistake. In order to get your business off the ground you have to start with a solid foundation. That’s the job of your business plan.

Your business plan is essentially an outline of everything you need to start and grow your business. Please don’t skip this step. It doesn’t need to be a formal preparation. However it should be organized so you can refer to your notes regularly. Keep it on your computer or in a notebook where you have easy access.

Your plan will cover everything from your home office equipment to your sales and income goals. You’ll plan how you’re going to achieve your goals too. Your business plan is your roadmap to success. Create one before you start the launch process.

Step # 2: Budget

One of the reasons most businesses fail is because they don’t take budgeting seriously. They don’t pay attention to cash flow. They spend more than they have. Before you launch your business know how much money you have right now to start it.

Know how much money you need each month to maintain it. Know how much money you need to make to grow your business. Also, pay attention to your savings. You may have a few months where you don’t make any profits at all. Do you have money in savings to tide you over?

Budgets are essential. They’ll help you keep out of debt. Debt can pull an otherwise successful business under. Create a budget, stick to it and get your business off the ground successfully.

Step # 3: Research

Know your audience. Know your unique selling point. Know who your competition is. Research is an important part of the planning and launching phase. You want to be able to position your company perfectly. Customers will know you exist. Your competition will be a non-issue and you’ll achieve your initial business goals quickly and easily. Spend time researching and planning! It’s vital to your success.

Finally, check your mindset. Mindset is everything. Know you can start and grow a successful business. Visualize your success. Yes, starting a business is work but you can do it. When you are prepared for the process, confident and positive you can accomplish anything.

If you have any questions about starting your business and need assistance, please feel free leave me a comment or post it on my Facebook Page and I’ll try to assist you in any way I can!

And if you haven’t already done so, please sign up for my new E-Course “Market Your Business Like A Social Maven” 14 Days To Social Marketing Success. In this course I’ll provide you with daily tips and information that you can immediately use to improve your business.

Have a wonderful afternoon!

Pam Lawhorne

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  • http://www.horizoninventory.com.au/ inventory management

    Unless you happen to offer something as eclectic as domain name-picking, chances are that you will need to stand out from the crowd. A quick internet search or a flip through the Yellow Pages will show you just how much market competition you have in your industry…

    • http://www.pamlawhorne.com Pam Lawhorne

      I agree! And believe it or not there are still a bunch of good domain names available despite the fact that there are more than 250,000,000 websites currently in operation!

      Thanks for the great feedback!

      Pam

  • http://amazeinc.com Lisa Frost

    Great article Pam. The mistakes we see most new businesses make is not doing their research and not understanding target marketing. But perhaps most important of all is preparing for failure. As you mentioned, mindset is extremely important. Therefore most new businesses need to expect more failures than successes in the beginning. It’s pushing through these failures and learning how to convert them to opportunities. I just posted an article about the top 7 website mistakes made by new businesses that reiterates your points on the importance of planning and research. You can read it here: http://oceansidechamberblog.com/?p=1634
    PS. Looking forward to reading your 14 Days to Social Marketing success

    • http://www.pamlawhorne.com Pam Lawhorne

      Hi Lisa!

      I agree! I think and believe that a lot of people do not know how to do research and target marketing… What’s that! ;o)

      Thats’s why I think it’s so important for entrepreneurs and business owners to at the least get basic training and information on how to properly market themselves online prior to attempting to operate online. I think that would great reduce both their stress and failure rate!

      I will check out your article. Thanks so much for the feedback and for visiting my site!

      Pam

  • Rich@BridgeGrowth

    Straight Forward… Many Small Business Owners lose track of those 3 Easy steps… Or their focus is on one more than the other which can hurt your start-up in the beginning stages in some cases…

    I will be sharing this…

    • http://www.pamlawhorne.com Pam Lawhorne

      Hi Rich!

      Thanks so much. Yes, I agree! Most business owners lose sight of what really needs to be done in order to be successful!

      I appreciate you taking the time to look at my article!

      Pam

  • http://www.onlinexcasinos.com/Top_Casinos_sc168.html Zaman@Best Online Casinos

    Surely, this is a fine article. Appreciated. Surely it would be quite helpful for business students, even for the entrepreneurs as well how to be in a safe zone before giving your idea an ignition. Though, most of the people are also wondering that one must have a sound social network in order to survive in the market, if you are blessed with less, quite lesser probability that you will make it in the market. Anyhow, thanks for the content, best of luck ahead.

    • http://www.pamlawhorne.com Pam Lawhorne

      Zaman -

      Most people are not aware of what it really takes to get a business up and running. After having launched several of my own, and assisting others to do the same – I feel like I have a good handle on it now! ;o)

      Thanks for the feedback and for your continued support!

      Pam

  • http://www.table-casino-games.com ibyang@Online Games

    Having a business is also a major part of a person’s life. Be it become successful or not it will always give a person insights and the chance to grow and become stronger in facing adversities in life. Great post. Some people only need some pushing to make their dream a reality.

    • http://www.pamlawhorne.com Pam Lawhorne

      Thank you!

      Yes, sometimes a little push will help get you going in the right direction! ;o)

      Pam

  • http://thecom.it/alpha Arthur Soroken

    Listen to your users, bootstrap if you can, and be iterative but agile. Listen to your customer is always number 1 on my list. Whether you’re pitching your idea or testing your minimum viable product spend, time with your customer. Your customer can enlighten you on markets you never thought about, features you never considered, and challenge your original preconceptions. I have a company called thecom.it (http://thecom.it/alpha) that gives startups a community of users who love to give feedback. This free service forces startups to listen and sometimes the truth hurts. This service also allows anyone to sign up as a user to give companies their honest opinions.

    Next is bootstrap – If you can. If you’re not a technical person, find a techie. If you’re not a business person, find a business person. Obviously a lot of companies can’t bootstrap because they need to raise signifacant funds for materials to build an MVP, but if you can do it, DO IT. Bootstrapping teaches you to be focused on expenses, forces you to stay close to your customers, and gives you complete ownership of YOUR BUSINESS.

    Be iterative but agile. Listen to your customers, weigh future feature releases with time to develop and carefully plan consecutive launches. You don’t want to give every feature your customers come up with. You can keep your customers hooked by giving in to some features and surprising them with YOUR innovation. Even though being iterative is important you need to be agile. Your customers will pull you in many directions and be prepared to go in those directions. Leave your pride at home and LISTEN TO YOUR CUSTOMER.

    • http://www.pamlawhorne.com Pam Lawhorne

      Hi Authur!

      Good stuff my friend! And I agree. Put some elbow grease into and then get help when and where necessary. This will not only help you with building your foundation but also with your growth and expansion too!

      Pam