What did you think was the most difficult part about starting a new business?
I recently started my own consulting business to do more of what I love! Problem was, I spent more time thinking about how to get started than I did doing the work. I've put together some tips that I found helpful as I dug in and dug out!
Are you all in or just testing the water
This one is first on purpose. If you go into this venture with a "dipping yours toes" attitude, you will be thinking about costs more than efficiency. This will jeopardize your success and cause you to lose valuable time. I know, I can use this free software and that free software so why do I need to pay for one that does what I need? YOUR SANITY! I'm a real techie guru and I still couldn't keep up with what was where. Once I bit the bullet, did my research and signed on for what I really needed things went so much better. Actually paying for what you need also incentivizes you in two ways. One, you are more organized, and 2) you feel more commitment to your plan.
Along with selecting the software that fit with my consulting and coaching work, I also made sure I had any additional options that were not included with the main package of services I needed. These secondary needs like webinar tools are good to check out before you select you main software tool just to be sure that there aren't other options that cover you better. For example, rather than me paying for a coaching and consulting software, an online learning platform and a web conferencing software, I'm considering learning platforms that have a webinar option included. This will save quite a bit of money and not add another tool for me to keep up with.
What about the business
You may already have a great name and even a logo for your business but have you considered options for your best tax situation? If you haven't already spoken to a tax accountant or someone you trust for financial advice, you should check into your best option before the end of the year. For example, there are some tax and liability benefits with an LLC (limited liability company) that retroactively affect the whole year in a positive way.
Keeping up with it all
So, you've selected the software and tools that you need. How do you keep up with them? Even though I purchased the software that fits with my work, there are still other logins and tools that I will use. So, I created a document to use as a "Cliff Note" version. I have a screen shot of the icon, if there is one, the name of the software and a short description of what I use it for. Here is a partial listing.
I use Quicken Books. I have to keep up with the login and notes about what I code where
There is also a Quicken app for invoicing and payments. Not everyone pays that way so I'll have to keep notes so I don't have to figure it out again each time
I'm not a fan of the expense receipt tracking aspect of QuickBooks so I use an app called Wave Receipts, another login
Logins for email, online learning system/webinar access, Adobe for my marketing designs, associations I'm a member of, etc.
All of these are important to my work and I absolutely HATE having to reinvent the wheel if I haven't used something in a while! (It rates right there with Pinterest as a time sucker to me!)
Phone a friend
As you get started, don't hesitate to reach out to other people you know who have their own business. It may look simple for them now and I can bet you they each had their own battle getting started off and organized! Talking to someone else and getting input is another way you can find some positive energy as you get started. They will tell you that it is not easy and it is worth it!
I'm ready, how do I market
You know, this was kind of a "chicken or the egg" ordeal for me. I knew I needed to market what I do and at the same time I was thinking, "But what do I need to have ready when I do get clients? So, how am I going to get clients?" Whether its documents or tools you need, you have to time your advertising and your preparedness closely. If you don't already have a network of people who do similar work, you may want to consider attending training somewhere so you can meet like-minded people. Forming a network can help you if you end up with more clients than you can take on after you launch your marketing plan. Your first impressions will be important to your work.
What's next
TIME! Schedule time to sit alone in a quiet place and do your research. Search options for software to fit most of your needs and begin reaching out for more information. Make a list of all of the features you know you must have versus the ones that you would like to have. Be sure to keep a listing of the ones you review and mark the ones you feel are no's based on features or no's based on cost. After you review your choices, you may find that the ones you thought cost too much actually cover more of your needs for less money that two providers. (Remember the webinar software that I'm getting in an LMS?) Be sure to ask for a demo to see what it looks like for the administrator of the site and your client when they use it.
What did you think was the most difficult part about starting a new business? What did you find helpful?