By Joe Selzler
Steps to Starting a Business
If you are interested in starting a new business you might want to consider some of the steps necessary in business start-up. I have identified seven of them--someone else might include more in the list, another person might include less.
However, I believe that this list is a fairly good guide to starting up in business. Over the next few months I will try to cover each one in enough detail to give you a good feel for what to expect when starting a new business. I will offer practical examples where they can help for clarity or inspiration. There are many professionals who offer their services for a fee and I suggest that you use them where you can. However, it is good to keep in mind that in many cases business is going where your best sense leads. This month I will talk about the first step: Acquiring Motivation.
The world of business can be challenging and exciting. The question is, do you want to be a part of that world? Do you have an interest in starting your own cafe, hotel or restaurant? When you read in the newspapers about entrepreneurs like Richard Branson, do you get the urge to start your own business? You might think to yourself that you could never do what someone like he has done, yet the truth is he started just where you are now. He had to ask himself whether he wanted to be in business and whether he had what it takes to succeed.
Are You Self Motivated?
Most people are successful in business because they are self motivated. They are keen to tackle whatever needs to be done without someone urging them on. I have a friend who is a sales representative for a jewellery company in America. Over the last few years she has been single handedly exhibiting at the various trade fairs in the US. Literally a one person show, she has designed, built and transported her entire display stand to the fair sites. Additionally, the entire costs of the shows are borne by her. She also personally deals with each customer that comes to her stand and does all the paper work that is involved. Success has not always accompanied her efforts, but as a whole this form of selling has benefited her sales. Quite obviously, she is a self-motivated person and has become quite successful because of it.
Can You Take The Initiative?
Another important characteristic of a successful business person is initiative. Reuben Singh is such a person. He began working in his parents' business at 12; by 14 he was accompanying his mother on buying trips to the Far East; and at 17 he had started the Miss Attitude fashion accessories chain. By the time he was 20 his business was worth over ?20 million. Not everyone is or can be that successful so quickly, but he must have had a lot of initiative to start so young. 1
Do You Have Stamina?
There is no question that business takes a lot of stamina. It is a rare case indeed that a new business can be successful without a lot of hard work. Peter and Suzanne Redstone started Rocombe Farm Ice Cream in Devon and today they produce over 120 flavours of ice cream and sell to many shops throughout England. Rocombe Farm Ice Cream wasn't always so big and certainly it didn't start out as an easy business. On one occasion Peter Redstone had to work in their first shop from seven in the morning until midnight, do two milkings and make all the ice cream. At the end of that day he only had ?17.50 in the till to show for his effort. It took real stamina to continue with business like that, but the hard work has paid off.2
Do You Have The Desire?
Part of acquiring motivation for business is having the desire to be in business. Many people are in business because they really want to be there and nowhere else. For them it isn't good enough to just be punching a 9-5 time clock in an office or factory. They are unsatisfied with waiting to be given something to do. They want to make things happen. Just having an idea about something will not do for them. They want to put that idea to the test.
Maybe you are not sure if you have the stamina or the motivation that it takes to be like Richard Branson. Perhaps you are a bit shy about new challenges. The important thing is, if you have even a little desire to have your own business you can work on getting the other things. If I have inspired you even a little for business, then read next time about Finding An Idea.
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