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There are several different things to consider when starting a new business venture. You have to figure out things such as knowing your product or service, what motivates you plus several different things that this blog will cover.
You may think to yourself “Oh I want to be my own boss” or “How hard can it really be to start my own business, I can do what my boss does”, but it takes so much more than just being able to do the work. You need to think big picture as it takes certain intangibles to be able to start up your business.

  1.  Research – Figure out your product i.e. know it inside out. You want to know how to get into the competitive market of your product or service. Research your competitors price and check your competitors to know their locations and where you are needed most to be successful in your business venture. If you can’t offer better or cheaper than your competition prices, you may want to re-evaluate.
  2. Motivation – What is your motivating to do this? There will be times while starting a new business you will hit a wall and want to give up and go back to your old job, but you will need to sit down and remember why you got into this business and help motivate you to keep pushing. If you don’t have that, you need to reconsider doing this.
  3. Professional Help – You will absolutely need to get professional help from either an accountant or a business lawyer. They will help you tremendously along the way. You may think you can do it all on your own but they know several things that will help you succeed with your business that you can imagine.
  4. Networking – Networking is a tremendous way to help start your company going and to help it grow. Go to as many networking luncheons as possible and get feed back from successful fellow business entrepreneurs like yourself to make sure you find the key ingredient that made all of them successful in their line of work and find the common denominator to all of it.

While there are other things to consider, if you truly think you are dedicated to doing the four major points above to become your own boss, you can at least know you are on the right track.
Please know that even with doing all of these things you may still struggle but as long as you give it everything you have and are willing to put all the work in, you will be just fine. So, if you think you can do it now go out there and get to working, good luck.

7M is here to guide you through the formation, creating a system for your bookkeeping as well as make sure your required business taxes are filed on time. Please call us at 405.202.3723 for a free consultation or email ben at ben@7mbusinesssolutions.com

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