4 Tips for Making Your New Year's Business Resolution A Reality

by Linette Singleton - Date: 2006-12-11 - Word Count: 595 Share This!

You have daydreamed about it on more than one occasion. Or, maybe you have had a few sleepless nights thinking about it. And by now, your family and friends think you will never get that business of yours off the ground. But a New Year brings new opportunities to make the dream of owning your own business a reality. And it can be done in four simple steps -

1. Develop a habit. Now do not kid yourself - properly starting a new business can be overwhelming and time consuming. But to keep from getting lost along the way, think of your business development in terms of "a single daily action". Make starting your new business a routine. For instance, today you might call your local regulatory agency to inquire about the business license requirements in your area. Tomorrow you may look into getting your stationary and business cards. In all likelihood, you may not be able to spend everyday working on your new business, but it is important to schedule time every week to work on making your dream a reality. If you can't work on starting your business on a daily basis, at least do it on a weekly basis.

2. Get organized and stay organized. It may seem like a hassle now, but when it comes to say, gathering receipts and invoices for your accountant to prepare your tax return, you will be glad you did. When planning your new business, keep a notebook on hand to jot down ideas, categorize your research, to keep track of your start-up and operational costs, etc. Also, be sure to reserve space on your computer's hard drive for your electronic materials as well.

A good place to begin is to make a "start-up checklist" where you can outline tasks like spending time at the library researching your market, interview an expert or two in your industry of interest, meet with an attorney to determine which legal form of business is right for you, etc. A checklist allows you to keep track of what's been done and what you still need to do before opening your doors to your first customer. And by being organized, you will be able to put your fingers on any record, receipt or lead almost immediately.

3. Get help! Having a coach is a great way to establish consistency and accountability in your start-up efforts, not to mention a fantastic way to keep you motivated. Let the experts show you how to do it right. Sure, a smart new business owner will seek out the basic three - an attorney, an accountant, and a banker. But a business development coach can point out potential pitfalls and help you prepare that all-important roadmap - your business plan. Look at hiring a coach as an investment in the success of your business and your happiness with its development.

4. Be persistent. Don't give up! The one sure way to fail at a new business is to never start one. Yes, you will have setbacks or encounter more than a few naysayers along the way. And you may find that your original business idea has given way to an even better one. But if you have discovered a legitimate market for your product or service, done your research, and developed a solid plan for reaching your customers and meeting their needs, the benefits will far outweigh the disappoints.

Like countless others, you may have made dozens of New Year's resolutions that have fallen by the wayside, but by following a few simple steps you can take your business idea from dream to reality.

Related Tags: business plan, starting a business, new years resolution, how to start a business

Linette Singleton is principal consultant for Singleton Consulting Group, a resource partner that provides marketing and business development services to facilitate strategic growth changes for small businesses. Their latest product offerings include a Online Business Plan Writing course. She can be reached at http://www.bpcoachonline.com

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