How to Start a Business in 90 Days Using Social Media Part I
So you have decided to start your own business. You have an idea, you have the desire and you want to be your own boss. Now what? Aside from having the initial desire to own your own business, there are a lot of things you need to consider. When will you quit your current job? Where your business will be located? Will it be online, an actual storefront or a combination of both? And what you will call your business? These are all important factors that every entrepreneur has faced and, with some careful planning and the help of social media, you should be able to successfully start your own company. In fact, you should be able to do it in just 90 days. That is the topic of this article, How to Start a Business in 90 Days Using Social Media. Read along and use this guide to help simplify the process.
Create a Business Plan
The first step to starting any business is to have a business plan. Even if you decide to go with an already established business and become a franchisee, you will still need a personalised business plan that incorporates your abilities and your needs. If you do decide to start a business using an already proven business model, most of the work will already be done for you and you may have to do some tweaking to their business plan to suit your needs. Do not make many changes as they have already laid the groundwork and have used their proven techniques. If you decide to create a company from scratch, either contact a business consultant that can help you create a business plan, or take ideas from already successful businesses in your niche.
Create a Financial Plan
Whether you are taking from your savings, borrowing from friends and family or taking out a loan, you are going to need funding to start your own company. To be able to focus your time and energy on your new business, you may have to quit your current job and this could prove difficult financially for a while. Until your new company becomes established and you grow your customer base, you may want to keep your old job or at least cut back on how much you work there. You will need money for bills, food and other financial needs so create a solid financial plan that works for you. Remember, social media is an inexpensive way to grow your business and market it effectively. Many successful entrepreneurs have saved money while growing their business using social media.
Get the Equipment, Products or Materials You Need
As with any business, you will need certain equipment, products or materials to operate efficiently. If you are selling clothing and accessories online, find a reputable supplier that can offer a wide selection and that may even ship for you. If you are starting a construction business or limousine service, you will need vehicles, equipment and a building. This is also true for builders as they will need materials and a lorry to start offering their services.
These first steps will give you a good start and in Part II of How to Start a Business in 90 Days Using Social Media, we will focus on building your customer base and using social media to engage with your customers and to introduce your small business to them.