When we put out a little question box to discover what our community wanted to learn more about through these blogs, one of the biggest responses was “how the hell do I start a business!?”. We get it – there isn’t a website, podcast or book on the market that has the answer to absolutely everything you need to know. It can also be a super daunting process as the process can be long and sometimes lonely. The hard reality (and also the beauty of it) is that no two business ideas have the exact same need, passion, idea or overall situation. However, we’ve identified that there are of course commonalities between every small start up – here’s our experience and two cents on the matter!
What’s in a name? When it comes to a business name, a lot of importance is placed on the name. Think about the meaning behind the name and whether you will still love the name in a year or five years to come. TOP TIP: Write down the name you have in mind on a piece of paper and stick it somewhere you look a lot – the fridge, your desk or bedside table. This helps you get used to it and determine whether you’ll grow out of it or not.
The Passion & Drive
Know your WHY through and through. Having a strong passion behind your business will give you drive and determination to take it all the way. Everyone will tell you that building a small business is equally as exhausting as it is rewarding. Wearing all the hats and showing up everyday takes determination and if your passion and why isn’t strong, then it isn’t sustainable.
So before starting your business, ask yourself the following questions:
Creating a business plan (in a way that works for you) is a non negotiable for building a successful business. This doesn’t have to be hundreds of pages, it just had to work for you and your business. Essentially, a business plan is there to help you summarise your business as it is now and map out your vision for how it will be in the future. This helps minimise the overwhelming emotions by mapping out small, measurable goals to get you to the big goal.
The overall design of your business is essentially the ‘look and feel’ your audience gets when they come into contact with your brand. This includes your logo design, branding, brand message, social media presence and website design. Know your brand story and be sure to effectively translate the story and brand across your social platforms. This is where Sweeter Social can come into play!
One of the most important essentials you need to start a business is the legalities but if you get it right from the start, you will seriously thank yourself down the track for just how much time and energy (and possibly money) it will save you. Legalities for a small business include registering your business name, getting an ABN, researching and selecting appropriate business insurance, registering a website domain name, creating a business bank account and looking into trademarks if necessary.
Successful businesses keep going when others give up. It all comes down to your passion and drive behind the business idea that creates your own path to success. No two journeys are the same but its all about creating your own plan, your own idea and your own hard work and dedication that will get you across the line!