Starting a business person working at desk

Starting a Business

Many persons have the desire and ability to begin a new life journey by starting a business. I found in the AARP Bulletin (January-February 2018) several great tips everyone should know when starting a business.

Use your experience when starting a business

  • You do not need to start with something you do not know. In other words, do not start from scratch. Each of us has many assets we can pull and use.
  • You have valuable knowledge. Use what you know. Find a way to use what you know to meet the needs of a niche.
  • You are your own asset. Be you. Use your characteristics and perspectives to meet your market niche.
  • You have a network. Keep in contact with those you know professionally and continue to foster new relationships. Talk about your work and the impact you have with as many people as possible.
  • You have what it takes. You know well that there are ups and downs with every job. So, since you are already a pro at working through the many changes in the workplace, use that to your advantage.
  • You can embrace new things. Sometimes you have to find new knowledge and develop new skills. It may be as simple as updating existing skills. You have what it takes so you can learn and do new things.
  • You can focus on you. Take starting a business to focus on you. Incorporate who you are as a person, what you like to do, and let your new endeavor show the world who you are, what you know, and what you can do.
  • You are a believer. You must believe in yourself. If you do not, then others are not likely to find in you your gifts. Yes, there will be good and bad times. Starting a business is proving to yourself and others that you believe in what you can accomplish.

Avoid pitfalls when starting a business

Starting a business takes work and determination. It is essential that you seek out and use the help available. You should also be wise when making many decisions. Even though you are using your expertise, you must also be humble. In other words, pay attention to what others have to say. Learn from them. It is possible that you were a big fish in your prior career. You may have wielded considerable influence. That is great. However, that also means you have the responsibility to be the newbie and willing to learn from others. Life and industry continue to change. You also need to change. Plan ahead. Make a budget that will allow you to weather the good and bad times when starting a business. I heard that it takes a good 7 years before a company is secure and turning a substantial profit. WOW, that is a long time. So, plan, budget, work your plan, and do not panic. You can do this.

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Photo by Matthew Henry from Burst

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