We have all met people that own business’ and at one time in our lives have thought- “How Cool is that!!”. And some of us may have dipped into the pond of entrepreneurship and tried our hand at starting a business. Count me in on that one. I never in my most wildest dreams thought I would own a business. And yet, here I am 11 years later. Still a business owner, still sane. May 4th to May 8th has been designated as National Small Business Week. So all you business owners- give yourself a pat on the back!!
So what is it really like to own a business? Its one wild ride! And its the best MBA you will ever get. Chances are, unless you have investors or family dough, you are starting on a shoe string budget. Been there, done that. You learn to juggle really quick. You will find yourself the wearer of many hats!!
Not only do you find yourself as a President or CEO, but the chief maid, marketer, and the accountant. Yup, most of us are a one man show. And when you dive into the world of Entrepreneurship, there is a lot of trial and error. Its like throwing spaghetti at the wall to see what will stick. Here are a couple of tips to help you on that “wild” ride of business ownership.
1. Find a mentor or a another business owner with whom you can have brainstorming sessions. My friend Stacy and I used to go for long walks and just throw around ideas!
2. Write a business plan. Define your scope of business. This was one of the first things I did. Over the years, its evolved and changed. Its essential to start off your business with a focus and direction.
3. Define your duties. What do you need to do on a daily basis to run your business.
4. Network!! Its all about those power partners. Being a one man show, you don’t have time to sell 24 hours a day. Let other people help you. Give and Receive!!
5. Budget- Where does and should your money go???
And most importantly- enjoy your success!! You deserved it!!
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