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I think I am ready to take that plunge and start my own business. I have had this great idea for a website, local in nature, that brings parents, schools and boosters together. It has everything I want in a job, it is just scary starting is from scratch. I have been doing research and found a couple of articles on "how to". 11 Things You Can Do to Start a Business Today | Bisirk (http://bisirk.com/2011/05/26/11-things-you-can-do-to-start-a-business-today/ - broken link) This one has eleven things to get started (didn't want to copy and paste it is kinda long). Anyone have any other suggestions?
The most important thing is to figure out your business model - how are you going to earn money? Who is paying and for what? Then go ask those people if/how much they are willing to pay for that service. The best idea in the world isn't a business if nobody is paying.
The biggest mistake that new business owners usually make is that they see all that money coming in and they forget that they will have expenses.
Don't spend a dime until you know that you have enough to at least pay the rent and the utilities. Make a list of all your possible expenses. don't forget supplies, taxes, etc.
True that a business without paying customers who buy again and again and an expanding customer base means quick starvation. Also overheads can eat your business for both lunch and dinner. Not just that but you have taxes and slow times when no money is coming. Not as easy as it looks. You need a good financial cushion for the rough and turbulent times.
Congratulations on your new venture!
It will be a tremendous amount of work, but very satisfying.
One problem I run into is that, because I work from home, people think I am available all day long. Your business sounds like you will be interacting with people, so be sure to establish working hours and keep to them, so you have time to get stuff done.
A blog is a really good idea. Have a link on your website to a complimentary blog and invite people to comment. You can write about the upcoming events, or review the booster projects. It's a good way to get people to interact and become involved.
There are a ton of tax deductions associated with small business. Keep records of everything and, if you can't afford a CPA right now, the online Tax services (Turbo Tax, H&R Block et al) are very helpful.
Good luck with it! I hope you will post and keep us informed about how it is going. Small startups are inspiring.
I think I am ready to take that plunge and start my own business.
Don't get caught up in the conventional business planning stuff. It will waste a bunch of your time. Do a one sheet business model. That is, put all your thoughts about the business on one sheet of paper.
Also, if you find that you *must* do all the work yourself just to make a profit then it's not a good business to be in.
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