THE BEST ADVICE FOR STARTING YOUR FIRST BUSINESS
Starting your own business can be stressful and frustrating at times, but ultimately be one of the most rewarding accomplishments of your life. While it certainly is not a task for the faint of heart, running your own company is generally a fulfilling experience personally and professionally. AtOrganizers Direct, we help entrepreneurs who are starting their own garage and closet organization businesses for the first time, so we are no stranger to what it takes to succeed when you first start out. Here are our top tips for starting your own business.
Pursue Your Passion
While it may be tempting to dive into a business based around you favorite hobbies or interests, you must first consider your own experience and how it will translate to the new operation. If you want to start a business in an industry that is new to you, there will be a lot more work that must be done before you can even put together a business plan. For this reason, it is usually best to start with what you know. Before you quit your day job and take the plunge, consider these questions:
- What do I want to sell?
- Is this service or good a viable option for sustainable income? In other words, is there a demand for it?
- How will my experience help me start this business?
- What are my strengths and weaknesses, and who will I hire to cover those weaknesses?
- What do I want out of my own business? Flexibility? More personal time? To leave a legacy?
- Are you willing to commit to this for the long term, even though starting a business requires endless work and stress in the beginning before it pays off?
- Are you prepared to work long hours for six or seven days each week to make your dream a reality
Build a Business Plan
Start by taking a look at your competitors to assess their strengths and weaknesses and find a mentor or coach to help you develop and follow through with a sound business plan. Be sure to consider all aspects of the capitalization of your business. You will need to determine if your business plan will allow you to re-invest profits into the business in order to fuel further success while still being able to feed your family, pay the mortgage and pay any potential employees. Many businesses fail as a result of financial problems, and entrepreneurs often have a rough couple of years before the business brings in extra profit.
Your business plan should include detailed SMART goals for your company to meet. SMART goals are specific, measurable, attainable, relevant and time-bound.
Determine the type of business you want
Franchises are an easy way to start a business, but can be very expensive initially. However, if you are looking for all the support of a franchise without the cost or micromanagement of a brand, a dealer program may be right for you. At Organizers Direct, for example, we provide all the support, experience and marketing power of a franchise without the cost or restrictions. We don’t charge franchise fees or require contracts and royalty payments, and we offer comprehensive training and ongoing support. With a dealer program, you are truly the owner of your own business, but you aren’t alone.
Develop a Marketing Strategy
How will you generate leads? Lead generation is the backbone of every successful business. Start with basic marketing:
- Get a website for your business and make sure you are listed on all local directories (like Yelp, Google Places for Business, The Yellow Pages, etc.)
- Start networking with local businesses by attending trade shows, conventions, luncheons, webinars,
- Run promotional events and word-of-mouth offers, such as discounts for customers who refer you to their friends
- Nurture your social media by interacting with influential people and local prospects
- Build lists of your current customers and leads and stay in contact through your blogs and email marketing
Above all, provide outstanding service and an amazing product, and people are sure to talk about your business.
Whether you are looking for a new business opportunity in the expanding and profitable market of home organization or you are currently in the industry and looking for a new supplier, we would like to invite you to see what Organizers Direct has to offer. Starting your own custom closet and garage business has never been easier!