Entrepreneurship is alive and well, even if the face of small business is evolving with the times. Autonomy in management and making dreams a reality are the reasons most cited by entrepreneurs looking to open a small business. This action plan can help you get you on your way to launching a successful start-up.
Be Your Own Boss
7 tips to help you launch a successful business
(Family Features) Entrepreneurship is alive and well, even if the face of small business is evolving with the times. Autonomy in management and making dreams a reality are the reasons most cited by entrepreneurs looking to open a small business.
However, how Americans are choosing to open small businesses is where there may be a shift.
“Consumer habits are changing,” Pittaway said. “That’s forcing Americans to consider how they open small businesses, whether it’s focusing more on e-commerce than actual store fronts or focusing on selling to a local community or region instead of a broader national audience.”
Starting Your Own Start-Up
“We understand the challenges of small business owners and offer products and services designed specifically to help and support small businesses,” said Tim Davis, president of The UPS Store, Inc. “Small business owners are unparalleled in their passion for their businesses, and understanding that aspiration is critical to running a successful small business.”
This action plan from the experts at The UPS Store can help you get you on your way to launching a successful start-up:
1. Analyze your target audience.
2. Determine a legal structure.
3. Establish your premises.
4. Determine your budget and expenses.
5. Develop a business plan.
6. Set up a marketing plan.
7. Be competitive.
With a carefully structured action plan, you can turn your start-up idea into a successful business. Find more tips for your small business at TheUPSStore.com.
Pitch your small business like a Pro
When you’re launching a small business, there could be any number of reasons you may need to pitch your idea. You may be courting an investor, recruiting talent or even starting to market your product or service. Brevity is often essential, so learn how to concisely pitch your business like a pro with these tips:
Draw out the essentials. Reduce your pitch to a few digestible bites. Make sure you have an intro that is brief enough to get someone’s undivided attention then elaborate on your points, such as your top competitive advantages, and provide more detail about your business as a whole.
Come to entertain. Add an entertainment factor to make your pitch engaging and memorable. Of course, you need substance to go along with style, but keeping your audience focused and doing something to stand out is essential.
Anticipate questions. Prepare yourself to reassure concerned investors and flesh out subjects you may have kept brief for your presentation. Make sure to practice your answers so you sound confident. Grabbing attention is important, but you need to be able to back up your spiel.
Know your audience. This is the cardinal rule of communication. Make sure you do your homework and know who you are addressing. This shows you value your listener’s time and feedback. Furthermore, insight about his or her philosophy in doing business can be extremely valuable during a pitch.
Practice until it hurts. Take the time to practice your entire pitch, including answers to likely questions, until you know it inside and out. The more comfortable you are, the more likely you are to win someone over in a meeting.
Have the materials to back it up. A written document is your chance to leave a lasting impression and elaborate on your major selling points. It’s also a chance to show your professionalism, so be sure to proofread carefully and package the information for a polished presentation.
Find more resources to help get your small business off the ground at theupsstore.com/smallbiz.
Photos courtesy of Getty ImagesSOURCE:
The UPS Store
Like any idea, the great ones come when you formulate a plan and turn that idea into action. Starting your own business can be stressful and demanding, but also both personally and professionally fulfilling. Getting a business up and running takes planning, smart financial decision-making and backing, and stacks of paperwork, but these tips can help guide you through the development stage and help you ready your idea for unveiling.
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