Before You Start Your Business

Contrary to popular belief, a slow economy can be a great time to start a business. Why? Well, instead of being dealt a hand by someone else, many choose to take hold of their own destiny. In doing so they end up thriving, as others sit anxiously ringing their hands and wondering if they will survive the lows. But, caution. While a great business idea at the right time can be a wonderful blessing, a bad idea can put you in over your head.

If you are considering starting your own business, here are some things you should know before you go:

1. Research. Seek out data and statistics on your idea so that you know if there is a market for your product/service and who your competitors might be.

2. Analyze any strengths and weaknesses your business might exhibit. For example are you an expert in this field or perhaps this business will only be parttime. Things like that will matter.

3.Get help. Visit your local small business center and ask for someone to work one on one with you about any questions you may have before initiating any official actions to start your company.

4. Do your best to create a mission statement, so that you know what the real purpose of your product/service will be.

5. Draft a potential marketing plan for your first year of operation. It will help you decide your budget and if the business is feasible, since most start up money is spent on marketing and advertising.

6. If you have time, take a small business course or something related to the product/service you plan to sell. A bit of extra knowledge can give you the just the edge you need to win customers.

7. Experiment and study the latest social media. Technology is a powerful asset in today's business world.

8. Once you've done the footwork don't forget to reach for the sky!

Many blessings on your endeavors,

Polly

Preparation: Important at Every Age

My oldest child starts Kindergarten tomorrow and I'm so excited for her that I can barely contain myself. She's academically ready, but understandably, says she's a little nervous. We talked about her anxiety again this morning and I told her not to worry because she's going to have fun. She looked at me perplexed, as to say, "Well it's not the fun part that's causing the problem." She isn't concerned about that, she's unsure just what tasks she'll be given and whether she can handle them or not.

Then, the light bulb turned on for me. A child is just like anyone else and preparation for the road ahead is extremely important. As adults, we like to know what we're going to do and have a plan to accomplish those things so that we feel confident that we're ready. This is certainly true for some more than others, but for me it's paramount. Whether I'm going to the grocery store or reading books to children at a book festival, life has taught me not to underestimate the power of thinking ahead. In fact, Meek and I practice this religiously by setting up frequent face-to-face business meetings with each other, and keeping constant communication so that we have lists and steps for all our retail events. Our pregame warm-up is serious and we don't take it for granted.

Years from now my daughter will know that she was fully prepared for school and worrying wasn't necessary at all, at least not with an education obsessed mother like hers! But for now, her early learning of these intergral life lessons let's me know I'm doing something right.

Blessings,
Polly

A Protection Plan for Your Company

There are but a few businesses that can truly be run as a one woman show. Even some of the simpliest ideas require more than one patner or hiring a few key employees. When your business is new and you're not quite running efficiently yet, it's understandable to be lax in this area. However, beware of keeping all the knowledge for self or for simply pawning off everything on your worker bees and therefore not knowing your business through and through. It could be a disaster if not handled from the start.

A few years ago there was a popular commericial where a company is going into a very important meeting with a client. The lead company rep gets caught in traffic or something and isn't able to make the meeting. Then the backup rep reaches down to get the backup files, while assuring the boss that everything is cool, and bangs his head on the end of the table. It's an instant knockout and the suprised, unprepared, unknowledgeable boss looks the client in the eye with a very nervous grin. Comical. But it could happen to you if you don't prepare. Likewise it could strike your business if you hold all the info. What if, God forbid, you fell ill or had some emergency and weren't able to manage your company for a while? Everything could go under in the blink of an eye. That's why you've got to plan and be ready for a few twists and turns in the business world.

Train a backup person or a least write an SOP (Standard Operation Procedure) handbook so that in the event you're down and out, there is a way for your business to thrive until you get back in the game. If you are the brains behind the idea but merely exsist as the puppetmaster now, make sure you know the whole song and dance just incase you've got to fill in by working below. Prepare for this by spending quality time on your product floor or in the mix of all operations which comprise your business. While you're at it put yourself in your customer's shoes as well, to assure that everyone's needs are being met. If you do these things your business will be better protected and you can rest a little be easier --- come what may.