Startup is your second step on steps to starting a business. Think of startup and as setup. The duration is from your final decision to go into business, till your entry into the marketplace whether it be a home business, online business or a big business. Entry is when you have a finished shippable product or a completed online business program or service that will put cash into your business bank account. You’re announcement to the world is considered the end of Startup and the beginning of your Rollout step to starting a business which is the most critical of all the five steps in the steps to start a business series.
You are embarking on a monumental task of multiple simultaneous decisions whether it is a home business, online or a big business. Keep in mind the dynamics of the situation and that the process is working against you. It can become quite overwhelming at times. A business plan is one of the essential steps to your business success. It is important that you keep focused, stay on schedule and maintain as lean a staff as possible. Bureaucracy is your enemy; it distracts and impedes your focus while draining cash from your business bank account. Only staff that is absolutely necessary should be considered in this phase. Make your selections and decisions carefully because you probably will have to live with them for a long time and changing them later on is costly to your business bank account, disruptive and cumbersome to your business plan.
This is an ideal time to complete or review your business plan. Keep it fresh and up to date even though it is a home business or an online business. Also it is an excellent guide for your legal (business license, etc.) and banking (business bank account, etc.) conversations you are about to have creating your business identity. Additionally it is you’re sequential guide forward plus a great financial view of your cash requirements and when they are needed.
Have a successful day,