5 Steps to Start Turning your Dream into a Plan
5 key things to do when starting a business (or side hustle)
Have you considered starting a business or side-hustle but talk yourself out of it before you even start? Do you daydream about selling your product or service but feel overwhelmed when it comes to the logistics? This is for you.
These are 5 key steps to take that will get you started with your new business! Whether you move through these in a week or over 5 months, your dream will become an executable plan.
Define your initial offering.
What is your product or service? This is more than saying, “I’m going to open a yoga studio” or “I’m going to sell my jewelry online”. This is digging into your deep benefit and developing an elevator pitch. Bullet out exactly what it is that people will pay you to do or provide.
Get specific. This may change in the future, but define your starting point.
Next…think about your pie in the sky wildest success story…what does that look like?? It’s good to have something bigger in mind. This will help you take it seriously as a business. Also, the decisions you make now will help it be more easily scalable in the future.
Determine your platform.
How are you going to deliver your product or service? Do you need a website (hint: the answer is probably yes)? The sophistication of the website though will vary based on your initial goals. When you’re starting out, there is no need to spend thousands of dollars with a designer and web developer - there are a lot of options available that have templates and features available at around $30/month.
This step is particularly important for budgeting. For example, starting a brick and mortar business, comes with a much larger startup cost than an Etsy shop.
Speaking of which -- options like Etsy or selling to friends through Facebook are great ways for certain businesses to get off the ground. Don't be afraid to start small to get in a groove.
Select your tools for business operations.
Homegrown products work well for certain things as you get started. It's important to sort out what you can do yourself with a spreadsheet and what you need to buy or subscribe to. From the beginning, think about how you are going to:
Track your budget
Send invoices
Track your customers
Communicate with your customers/or potential customers
Manage your time and workload
As your business grows, this list will grow. For example, there are options for social media content calendars, calendar synch apps, etc. that are helpful. But when you’re first starting out - don’t overwhelm yourself with 100 different apps and tools. Google Suite can go a long way in the beginning!
Create your social media presence.
Social media can be a great way to connect with potential clients and others in your industry. But, you don’t need to figure every avenue out all at once (or ever). Pick the venue(s) that make the most sense to your target audience and be consistent and thoughtful in how you use it. This means post content that is of interest and of value to the people you want to attract.
Also - start thinking about branding. Using consistent font, colors, and voice in your posts will help your future clients get to know you. Don’t get obsessed or bogged down with how many followers you have. A slow and steady growth is fine here.
Make a plan for your personal wellness.
This step may seem out of place. BUT… it’s a secret ingredient to being successful in your business. We all function best and are most successful in whatever we do if we feel good about ourselves.
Are you getting appropriate nutrition?
Sleeping enough?
Do you have a regular physical activity?
Are you managing stress and relationships well?
You and your physician know the details of what wellness means for you physically. Go ahead and check in with yourself on this area. I believe that taking care of ourselves first is a must-haves for embarking on a new business. It will help ensure you’re going to enjoy the process -- and achieve your goals!
Stay tuned for more detailed insight on each of these steps. What can seem overwhelming at first, is not bad when taken step by step. You can do this!
