Starting Fresh with a New Business

Recently I wrote an article titled, “Twelve Ways to Change Your Life” for Eventful Magazine.  I was delighted when a reader contacted me seeking advice on number six:  Consider a Career Change.  Here’s some of the advice that I shared with the reader that may be helpful to others who are contemplating a lifestyle change.  Why not kick that office grind and start your own business in 2014?

Following are some tips that I picked up during my entrepreneurial journey:

1) Find your passion:  Work can – and should – be fun!  What are you passionate about and good at and is there a demand for that product or service?  That should be the foundation for any successful business.
2)    Setting up shop:  I decided to hire a local attorney to advise me and to set up my business (i.e. file paperwork with the State).  Sure, there are websites that can help you to do it quickly and probably very efficiently.  Since starting a business was new to me, I wanted it done correctly and I’m very glad I hired a lawyer to do it.  It wasn’t terribly expensive, he made it easy and I didn’t have to worry if I’d done everything correctly.
3)  Consult with a CPA who specializes in small businesses before you get started.  Most CPAs will give you a free consultation and offer valuable advice that you should consider prior to starting a business.
4)  Set some money aside to cover living expenses before launching a business and plan for the worst case scenario – just in case.
5)  Network!  Get a LinkedIn profile if you don’t have one and review it if you do.  Find a local networking organization that meets regularly.  I belong to such an organization geared toward professional women in the region.  These organizations can connect you with local professionals – many of whom own their own businesses.   You don’t have to announce that you’re thinking about starting a business, but networking builds your circle of contacts:  people who might refer business to you, who can help advise you or even become future customers.
6)  Name your business:  If you come up with a name for a possible business, Google it and find out who, if anyone else, has the same name.  Are they in your industry?  Then you might consider something else.  If you think you might have a website, buy the website address (domain name) now.  Depending on the name you choose, you can buy a one-year license very inexpensively:  usually $20 or less on a site like GoDaddy.
7)  I follow the US Small Business Administration on Facebook and they publish some really interesting stuff.  Just yesterday, the SBA posted an article on the different ways entrepreneurs can form their businesses.
Read the entire Eventful magazine article!
By openmindworks | | This article was posted in Entrepreneurship and tagged , , , . Bookmark the permalink. Follow comments with the RSS feed for this post. Post a Comment or leave a trackback: Trackback URL.

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