Starting a business 101

by Kimberly Flanagan

It’s the New Year and everyone has their own set of goals or resolutions they want to achieve for the year. If you’re planning on taking the entrepreneurial route and starting your own business, there are many things to take into consideration.

These things are not only your capital and your business sense or your ideas, but it can be things that are not seen through the naked eye.

Below are a few things you should consider if you’re planning on starting a fresh new venture in 2020.

  • Have a passion for your product

Make sure your business plan is backed up with a passion for your product or service.

Without passion behind your product, it won’t take off.

  • Speak or write about what you want to build

But don’t just brag or reveal all your ideas, sell your business and product so that when you kick-off, you already have a list of clients.

  • Don’t quit your day job

Dreams don’t come true overnight, so make sure you keep working at your 9-5 until your vision has been realized.

  • Use your imagination

Keep thinking and envisioning your dream and continue imagining where it will go and how it will grow. It’s important to have a vision for your business and always envision where you will see yourself in 5 or 10 years down the line. That vision will keep you going.

  • Keep your planning simple

Don’t overcomplicate and overthink your ideas. There is most likely a chance that someone else has already had the same idea as yours but the difference is in the implementation. Don’t over-analyze and try to be better than the next person, just do your best.

  • Absorb everything like a sponge

Read everything; even if it has nothing to do with your business idea, just read. Listen to people who have walked your road and have done what you’re attempting to do. Go to seminars and lectures. Do the research and listen to podcasts. Always have a notebook and pen handy.

  • Stop making excuses

This is probably one of the most important tips. Stop making excuses and delaying your own progress. Reset your mind and thoughts to believe that your business can and will happen and the rest will follow.

  • Understand yourself

It’s important to know who you are and what you want out of life. Know your strengths and weaknesses and address them all accordingly. Once you get that out of the way, you can get to work on your business plan.

  • Plan

This is also another important one to take note off. Make sure you write down your ideas and concepts. Write down what type of business you want and what you want it to achieve and what you want to contribute. Plan how you will go about it and what you will need to do.

  • Start small

Don’t put all your eggs in one basket off the bat. Start small, in your community or your social circle and see how it grows before you throw in all your money at something that hasn’t kicked off yet or shown fruits of success.



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