The 3 Things You Need to Start a Business
Have you ever wanted to start a business of your own, and start monetizing your BIG ideas?
It’s easy to overcomplicate this, but wanting to start a business might be simpler than you think. Don’t get me wrong, it takes WORK…but I got in my own way a LOT by thinking that I needed to have xyz together before I could get started.
Spoiler alert: we’re all figuring it out as we go! You don’t need to wait in order to start serving people with your talents + gifts.
In simple terms, to have a business you need:
- A problem you solve
Businesses solve problems (for a profit) – so this is the first place to start! What challenge or problem do you want to provide a solution for with your business? Getting super clear about this is the FIRST and most important thing to do.
- A way for people to find out about your solution.
- Social media – Business Instagram, Facebook page, Pinterest or LinkedIn
- Website – simple web page, Etsy store, Eventbrite page. There are many options but start simple and reinvest as you grow your business!
- Physical location that’s visible to where your ideal audience is located
- A way for people to pay you!
If businesses solve problems for a profit, then you need a way for people to be able to pay you! There is no better feeling than being compensated for your gifts & talents, and for using them to positively impact someone’s life!
A way for people to pay you:
- Make your biz legit – set up an LLC and EIN
- A separate business bank account
- Payment processor (if not available through your website) – Stripe, PayPal, Quickbooks (to send invoices). You’ll pay transaction fees for CC transactions (around 3%) but having the ability to process CC’s makes your business feel more legit
When we simplify business and just BEGIN, we figure the rest out along the way! You dont need to know the whole plan.
What is one thing you can do this week to start turning your idea into a profitable biz!?
This was beautiful Admin. Thank you for your reflections.