Tips for starting your business

Editor’s Note: Here at Dispatches, we are always looking for ways to help our readers do things. For some of our readers, that means helping navigate the working world, for others, it means assisting in the ever challenging question, “what’s for dinner?” For still others, it means figuring out how to balance family life with everything else. In an effort to aid in all of these endeavors, we have collaborated on this article written specifically for our readers.

If you want to be your own boss or break the chains away from your office desk, you should think about starting your own business.

There has never been a better time to get into your own business. With more tips, knowledge and access to information from new solopreneurs and advice from industry leaders, you have easy access to answers to your questions. 

Starting a business is easy. Succeeding is not as easy. According to Bloomberg, eight out of every 10 hopefuls who start a business fail within a year and a half of opening. That means two in every 10 new businesses are successful. To be one of the two businesses that succeed, you need to question everything about your idea and business plan to ensure you have something rock solid to take forward. There isn’t anything wrong with thinking big either.

Not every single idea is going to make a great business – now is the time to be realistic. Judge your idea and be critical. Research the market, see if there is a gap – identify the competition. Your success will be based on the research that you can undertake.

Once you’ve done that, it’s time to move forward. This could be complex or simple – it depends on the country of operation. There will be plenty of questions to ask – When do I pay tax? Do I need an accountant? How do I trademark ideas? Where is the best state to incorporate my business? Asking questions and finding the right answers is important to set yourself up for success.

Once you’ve answered the basic starting questions, consider making sure you have access to experts who can support your business. If you’re a small craft store and don’t want to be behind the sales desk seven days a week, consider hiring an employee. Your goal is to find someone as passionate about your plan as you are.Or if you need to increase your brand awareness and advertise, consider working with a creative company (like J & A Creative Group!). You will be the expert at your business but don’t be afraid to ask for assistance with the parts you dread or aren’t as good at doing. 

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