Tips to Starting your Own Busniess

The 9-to-5 grind can make you feel like a just another cog in the corporate machine, constantly punching the clock for someone else’s vision.  One day, while dreaming of the world outside the cubicle, you have your big “Eureka!” moment–you’ve come across an idea so perfect that you need to start your own business around it.

Coming up with the idea is the easy part.  Now, you’re thrown into an entrepreneurial world where even the experience businessperson can feel overwhelmed by all the details.
It’s hard to know where to even begin.  So here are some tips to starting your own business:
–  Craft a primitive budget:  do you have enough capital to get this idea rolling?  First things first, figure out roughly how much it’ll cost you including all expenses, and where that money will be coming from.  Call in favors from everyone you’ve even leant money to in the past in need be.
–  Does the business world need you?:  is there a large enough demand for your product?  Ask around before even attempting to start your business–check with similar businesses in the area, or around the country.  Find out how they started, and what kinds of clients they target, to get an idea of where you’ll fit in the market.
–  Create a strong management team:  your team members should share your vision of the business, and a certain amount of proficiency and credibility.  Rely on your connections to find the perfect people for the jobs that will bring their expertise to the business.  Remember that you will eventually have to set aside your ego and let them control certain aspects of the company, so your have to feel comfortable around your management team.

Jessica Klein is a member of the ‘Mount Real Research Team’, whose aim is to seek out and distribute business information to the virtual public.  She is a freelance writer based in Montreal, Canada who loves writing about anything from accounting to zebras.