Five Things to Think About Before You Start a Business

A young mom recently joined our Facebook community and asked us some great questions about how she can become an entrepreneur and start her own business.  Like many, she wasn’t sure where or how to start.

Reaching out for clarity is great, because before starting a business, there are obviously a few things you should brainstorm.

We’ve come up with a few of the basics to help you mastermind your master plan.

What do you like doing?  Can you see yourself doing it every day?

There’s a saying that if you enjoy what you do, you’ll never work a day in your life.  This is vital, because if you’re going to have your own business, it should be something you’re obsessed with, not in love with.  Why?  As millionaire entrepreneur and best selling author of Be Obsessed or Be Average Grant Cardone said, “Getting hooked on the idea of success and actually being obsessed enough to pursue it are two completely different things. Just wanting to be great isn’t enough. I’ve shed sweat, blood, tears—and put my ass on the line more times than I can count—to get to where I am today.”

What do you not like doing?  What can you not do?  Start thinking about building your team.

Yes, you will need a team — even if it’s a small one.  Identify the tasks that you either don’t have the skills to complete, or just don’t want to complete.  Then figure out how to delegate them to someone who’s a rockstar.

What problem does my business or product solve?

Businesses exist for the sole reason of problem solving.  Find a problem and solve it.  This is inherently what will make your business valuable.

How much will it cost me to start?  How can I get started right away, with what I have right now?

Let’s say your ideal business is a clothing store.  Without some heavy capital, it may be hard to immediately open a brick and mortar storefront.  If you start online or at trade shows, with a small inventory, you can get started sooner and keep funneling funds back into your business so you can scale up as time goes on.  You don’t need to be the biggest and the baddest right away.  You just need to get started!

Who else is doing it, and what unique advantage do I offer?

Mark Cuban from Shark Tank calls this standout factor your “special sauce.”  Your special sauce is what makes you shine; it’s what sets you apart from your competitors.  Build your business around what makes your business unique.  Develop your marketing around your special sauce.  Your special sauce could be anything from your messaging, the type of experience you provide, a production method, charitable contributions, or where your product is produced.  Think about what you’re giving your customer, not what you’ll get.  Some key concepts to focus on are sustainability, ethically produced goods, community involvement, social responsibility and social consciousness.

Home-Based Business Opportunities From Millionaire Mom Society

If you’ve read about Millionaire Mom Society, you’ll know that we’re in existence to empower entrepreneurs with tools and resources to start, grow, and scale up their businesses, control their schedules, and control their income – specifically, people who want to work from home, online. We’ve got several options available for people who are seriously interested in working from home or just making some extra cash. There are marketing opportunities, trading opportunities, and even Bitcoin opportunities — you can check it all out here. There’s no experience necessary, and you can change your life with just a few clicks. Change is seriously only a click away!

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