Starting a business from scratch is a heady experience. It is full of hopes and dreams, and can end up in a crumbled heap. You, however, can avoid some of the pitfalls that can sabotage your business before it ever gets started. Here are some pointers for starting your own business.
Know What You Can Do
It is crucial to realize what your abilities are. Be honest with yourself. I’ve said many times that I am the best employee I’ve ever had, and the worst boss I’ve ever had. I’m too demanding, yet I always meet my goals.
If you are not a hard worker, then don’t even play this game, for a game it is to anyone who is not serious about it. You have to know what you can do, starkly and honestly, and work within those parameters.
Get a Vision
Where are you going with this business? Are you just going to make some money to pay a few bills? That is great! Can it be more? You must be the judge, but chances are, yes – your home business can be more. If you want to build a kingdom, you must have some core values that motivate you. Know what those values are and how they tie in with your business, and pursue it. Chick-fil-a and Hobby Lobby have come under unbelievable persecution because the companies make no distinction between their religious beliefs and their business operations. But those companies are stronger than ever, and still turn out superior products.
Be Smart, Be Legal
What are the legalities surrounding your business? You may have an engineering degree but that does not mean you can start selling engineering drawings. You may have a teaching degree, but if you are not certified, you cannot bill yourself as a teacher.
Find out what kind of licensing registration and permits are necessary for you to start your business. Look, also, at insurance. If you will be having clients come to your house, you need to be insured in case someone slips on the sidewalk or trips on the rug. If you are going into someone else’s house, you need bonding to make sure you are protected if you break something, or are accused of theft.
Can you actually have a business at your house? Check zoning, because there may be regulations concerning how many cars and how much foot traffic you can allow at your house. If you are planning on building a detached studio or adding on an office, get the proper permits. Otherwise, you may face a hefty fine.
Having a home based business does not mean you get to sit around in your pajamas all day. It means you can work in your pajamas all day. And, if you have to meet a client somewhere you have to get dressed and make the meeting.
Regardless of whether you are wearing pajamas, starting a business from scratch is a lot of work, and takes thought. Do your research.