Must-Know Tips for Starting Your Own Business

Road blocks . . . or road maps?

Getting a new business off the ground can be one of the most exciting times in life. Chasing dreams and becoming independently employed can be extremely gratifying, but it also takes a lot of hard work and self-education.

Your business won’t be a success unless you do your research and start with the foundation of a solid plan. Here are a few tips that are tried and true approaches to growing a successful small business.

1. Utilize Free Resources

You can’t just jump into a small business without thinking through what the steps of launch will be. There are many resources out there for SMB entrepreneurs, but you need to be proactive about accessing the information.

Score, a non-profit organization supported by the U.S. Small Business Administration, is one of the best resources for information and support. Score offers checklists, potential mentor-ship, and many other resources to help you get your small business off the ground with a savvy and informed roadmap.

2. Write a Business Plan

Business plans aren’t just goalposts you hope to reach, but function as roadmaps to measure your progress and keep you on track. For example, some entrepreneurs experience excellent success at their first go-around and become impulsive, abandoning their business plan. They may suddenly purchase unnecessary brick and mortar office or retail space, spend too much money on equipment or bite off more orders than they can chew. Whatever the situation, if the evolution of your SMB doesn’t follow a guide, it will quickly careen out of control. Don't let that happen.

3. Get expert help

Pay an expert to help you. Find a company that offers small business marketing solutions and who can help you develop a business plan and more. It will be well worth the cost.

Many entrepreneurs dream of establishing a successful SMB. Whatever the passion is that you want to translate into a profitable small business, a successful venture requires both creative passions and professional savvy. Get a good business coach or tap into whatever informational networks you can. Be cautious about spending your capital, and you could likely find yourself riding a wave of success and personal fulfillment.