First Steps to Starting Your Own Business

Starting a small business is no small decision. If you’re thinking about taking the plunge and starting a business of your own, there are some key steps you need to take first.

Step One:  Understand Your Own Strengths and Skills.

Take a look inside of yourself and ask the following questions. What is your prior work experience? What are your personal interests and hobbies?  What education or courses have you taken? What skills and talents do you have? What are you an expert in?

Norman Vincent Peale said it best, “Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.”

Looking closely at your strengths and skills can help you identify specific expertise that may lend themselves to starting your own business.

Step Two:  Ask yourself, “Is My Idea Feasible?”

I know this one sounds obvious. Aren’t all things possible to those who believe? Certainly, but quite a few great ideas didn’t make it either because the service or product was not timely or too expensive.

Ask yourself the following questions. Will your product or service serve an existing market in which there is a demand? Will your product or service be competitive in the market based on its price and quality? If you answered yes to these questions, you are on the right track.  If you answered no, you need to carefully assess your business idea before moving forward. A feasible idea has to be right for you and for the market.

Step Three: Seek Support and Guidance.

As you receive the proper support and guidance your confidence will grow. Let those with experience guide you through the steps of business development. Returning to school and taking part in professional development coursework can help you learn more about entrepreneurship, how to create a business plan, marketing and financing a business.

Having the right strengths and skills and matching them with a feasible idea is a good place to start. At Moraine Park, we support your journey  by offering workshops that help you accomplish your goals. Get started today by enrolling in a face to face class in September in Green Lake or take a class in November in Fond du Lac. 

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Written by Samantha Rittmeyer