22/04/2018 How to Start Your Own Business

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HOW TO START YOUR OWN BUSINESS

June 6, 2015 By: Anita

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Coming from a long line of entrepreneurs and having started three businesses on my own
or with family, I know the bene ts and freedom entrepreneurship can bring. If you are
wondering if you should start your own business check out this post with 9 advantages of
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becoming an entrepreneur. If you know you want to start a business here 13 proven ways
to create a successful business.

1. Have the desire to start a business or pursue an avenue of making money on your own.
2. Have a general but useful idea that has demand or will have demand in the market
place.
3. Do research on the product, service, etc. Research, research, research.
4. Study marketing. Learn how to market on multiple different platforms. The worst
number in business is 1. If you only have 1 way of getting customers you could lose
them if that avenue suddenly dries up or turns cold.
5. Work. Put your ideas, research and knowledge into action.
6. Incorporate. My businesses as well as most of my family members run their businesses
as Limited Liability Company’s. LLC’s receive the tax bene ts of a partnership but enjoy
the liability protection of a corporation. You can do further research into what type of
company you should become. When you have chosen the type you can contact your
state.gov website and register. The website should walk you through registering a
name, lling out required paperwork, and paying a fee (typically the fee is not too
expensive).
7. Keep working. Things like starting a business or manufacturing a product, or getting
clients for a service based business often requires more endurance, patience, hard
work, time, and money than one plans on from the outset. Don’t give up now. Keep
going.
8. Keep track of your nances. To begin, a simple spreadsheet of your expenses and your
income will do. Once you start really making money, reaching out to an accountant/tax
professional would be wise. Get a business bank account and a business credit card.
Make sure to keep receipts and a mileage log from the get go.
9. Don’t take money out of the business until you are extremely successful. Reinvest any
money you make to keep growing the business. Set aside a certain amount of money
just for marketing and be vigilant in trying to grow your customer base.
10. Keep working and learning what you can about your industry. Test and improve your
marketing. Smooth out the rough edges.
11. Hire a contractor, virtual assistant, or an employee to help bear the load (when your
business is becoming too much for you to handle alone and you can afford it). Be sure to
consult with a tax/business professional before hiring actual employees. There are
many laws associated with hiring employees. Also, be careful about who you hire. I

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wrote a blog post about the Top Proven Ways to Get Hired. I share my tips on what to
look for and some tips and tricks for business owners.
12. There are times when investments are called for. It is important to invest wisely, be
prudent, innovative and frugal. Many businesses fail due to mismanagement of money.
Do your best to stay in the black.
13. Be vigilant about online reviews and great costumer service. One horrid and
descriptive review can hurt you immensely. Do your best to ensure that your
customers are satis ed. It is almost never worth it to sacri ce money or time for your
reputation—in the long run.

Follow these steps and you will be on your way to enjoy the 9+ advantages of starting
your own business.

For other DIY and money-saving tips please subscribe, like me on Facebook, and follow
me on Pinterest.

Related Posts:

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COMMENTS

Charlee @ Humble in a Heartbeat says

June 8, 2015 at 8:53 pm

My husband started his own business in January. Fortunately we had some savings and
have found other ways to make money, because we have decided not to take out money quite
yet. Running a business takes a lot of commitment and perseverance, but it can be a wonderful
way to break out of the mold. It’s not for everyone!

REPLY

Anita Fowler says

June 16, 2015 at 10:18 pm

That’s awesome that you started a business. Yes it is a lot of commitment and
dedication!

REPLY

Amy @Europe's Calling says

June 11, 2015 at 7:11 pm

I was so nervous to start my business as a dyslexia tutor, but I am so glad I took the
leap. It is the best job for me right now. It lets me do what I want in the hours that work best for
me. It might be scary, but it’s worth it. It is a lot of work though, so I don’t know how people do it
if they use their own business as a full time job.

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REPLY

Anita Fowler says

June 16, 2015 at 10:16 pm

Amy- that is awesome that you took the leap. I have a few people in my extended
family with dyselxia. It’s awesome that you tutor!

REPLY

Mona Wilder says

November 7, 2015 at 10:20 pm

Thank you for the advice. I want to start a business but there’s so many fears. I like
positive stories of people making it through adversities.

REPLY

Anita Fowler says

November 10, 2015 at 3:50 am

You’re welcome. It really is a great thing if choose something you love and stick
with it! Best wishes in your endeavors

REPLY

mare says
August 16, 2016 at 2:08 am

Mona, go to a website called MicroMentor, they help people start their own
businesses. It’s free!

REPLY

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izmir web sitesi says

November 14, 2017 at 4:15 pm

If I have a topic I’m really passionate about but that doesn’t t with my blog, I’ll usually
look for an opportunity to share the content elsewhere — often in a guest post on someone else’s
blog

REPLY

Anita Fowler says

January 11, 2018 at 2:49 am

great tip thank you!

REPLY

Beginner Tuts says

April 15, 2018 at 2:35 am

i started my business 2 years ago on youtube. the rst year was rough but now im
making enough money to live on it. thanks for this article.

REPLY

Anita says
April 17, 2018 at 6:35 am

I’m glad this helped you!

REPLY

TRACKBACKS

9 Advantages of Starting Your Own Business | Live Like You Are Rich says:
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August 21, 2015 at 3:28 pm

[…] to start a business should! It really isn’t as hard as you think. I have published a
post on how to to start a business, please subscribe for noti cation of when that
goes […]

Reply

Entrepreneurialism and the American Dream Showcased at Ignite Retreat +

Weekend Getaway Giveaway | Live Like You Are Rich says:
October 11, 2016 at 8:23 pm
[…] business too. I love being with friends who understand and have
this passion too. I have a post on how to start your own business here in case you
are thinking of becoming a business owner […]

Reply

5 Daily Statements to Boost Your Con dence | LIC says:

March 8, 2017 at 8:13 pm
[…] cook, sing, or write. You could be wanting something much bigger, like starting
your own blog, your own business, publishing a product or offering a service. It
could also be something super simple such as doing […]

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