Starting a business is one of the best and most rewarding things you could ever do. It is a way to secure your financial future and become your own boss. That being said, there are many factors to consider before you get started. In this article, Scott Crockett with Everest Business Funding will give you the advice you need to get your business off the ground.
The very first thing you’re going to want to start doing is networking. Just about all successful startups had supporters before they opened their doors, and very few of them could make it without a solid network of people around them. You’re going to need to find ways to win people over and build a support network that will lift your business off the ground.
Beware the Power of Investors
One thing to beware of when starting a business is investor influence. Angel investors are naturally very persuasive with their substantial cash reserves, but there is a cost to what they give you that may not be readily apparent. They may very well expect you to follow how they want your business to be operated. You will lose a varying degree of control over your company. If you can afford to, go another route. There are plenty out there.
It’s Going to Take a While
Many people starting a small business make the mistaken assumption that they will see returns on their investments reasonably quickly. The truth is it can take a long time before your business begins to take off. Perhaps most famously, Steve Jobs with Apple started in a garage, approaching every small-time investor they could find. It took them eight years before they became popular and still struggled for well over a decade after. Patience is key here; you will want to have a funding source that will last you until you become profitable.
Have a Plan of Action
Few things are worse than being unprepared. Before you do anything, make sure you know exactly what you’re going to be doing. Know what kind of business you’re doing. Write a business plan that details what you want to accomplish. An unprepared company simply isn’t going to go very far; it’s a disaster in the making.
Stop Making Excuses
Not everybody has that can-do attitude and spirit. There are plenty of prospective business owners who never gave themselves a chance they deserved because they came up with some reason as to why they couldn’t do “X,” “Y,” and “Z.” While, of course, there are justifiable reasons to be worried, any person should have at least a few, that should not be enough to hold you back. Address each one of those concerns head-on and find solutions to them. You will never get anywhere in life, let alone in the business world if you let fear control you.
About Scott Crockett
Scott Crockett is the founder and CEO of Everest Business Funding. He is a seasoned professional with 20 years of experience in the finance industry. Mr. Crockett’s track record includes raising more than $250 million in capital and creating thousands of jobs. Scott has founded, built, and managed several finance companies in the consumer and commercial finance sectors.