How To Start a Business in One Workday
Maybe you've been avoiding starting your own business, thinking it's too hard and takes too long, but you may be surprised at how quickly you can set up your own company. In fact, you can lay the groundwork in only one workday. Read on to discover a possible schedule.
8 a.m. – 9 A.m.: Set Your Goals
Begin your morning with some goal-setting. Think about where you want to be personally and professionally a year and 5 years from now. This gives you a broad perspective for your next activities.
9 a.m. – 10 A.m.: Decide on Your Business' Scope
Next, decide on your business' scope. You probably have some ideas in mind already. Maybe you're planning to sell crafts, start a cleaning service, or offer your services as a pet sitter. Take some time to reflect on your business' purpose and how much you can handle at this point.
10 a.m. – 11 A.m.: Choose Your Business' Structure
You also need to do some research about business structures. Maybe you're satisfied with a single proprietorship for now, but keep in mind that you might form a limited liability company later to take advantage of tax benefits, greater flexibility, and lower personal liability.
11 a.m. – Noon: Get Your Finances In Order
Now create your budget. It probably looks a little sad at the moment, but calculate how much you need to get started and decide where to secure the funds. You can also set up a business bank account at this point, and think about tools that can save you money. If you think you'll be generating a lot of documents, for instance, you can compress PDF to save space, get documents in the proper order, and remain organized.
Noon – 1 p.m.: Take a Break
Grab some lunch and a nap. You've had a busy morning!
1 p.m. – 2 P.m.: Write Your Business Plan
Start your afternoon by writing up a simple business plan. Begin with the purpose for your business, and then describe your products or services, tasks, target market, marketing strategies, and budget. Your business plan helps you stay on track as you get going.
2 p.m. – 3 P.m.: Get Your Marketing in Place
You're now ready to introduce your new business to your potential customers. Start by building a simple website and opening some social media accounts for your business. You can also make up some business cards and flyers to distribute and write an ad for your local newspaper. Don't forget to tell your friends, too, and ask them to spread the word.
3 p.m. – 4 P.m.: Find Some Help
As the day draws to an end, think about finding some help with your new business. Perhaps there are tasks that must be done that you just aren't very good at handling. Consider hiring freelancers to assist you — a writer for marketing, perhaps, or an accountant to keep the books.
4 p.m. – 5 p.m.: Plan for Tomorrow
Finally, the workday is done, and you've started a business. Now you can plan for tomorrow and prepare for your new customers.
A Good Day's Work
With the right idea and proper tools, you can get your business up and running in a day. If you want more advice, reach out to your local chamber of commerce for support.
This Hot Deal is promoted by South County Chambers of Commerce.