5 Easy Steps To Building Your Business Empire

• July 06, 2021

After what seems like a lifetime of watching others, bring their dreams to reality, You’re ready. You have got the gumption and inspiration to throw your hat in and build a future. Where do you start? The adrenaline is pumping, Creative Juices flowing. What’s next?

Patients Grasshopper.

A Guide through The 5 Basic Steps needed to Build Your Business Empire

1.  Put It In Writing

When we hear that phrase “Put it in Writing” it seems more like the closing step, right? Not in this case, though. This is where you get to know yourself, and the framework for your small business comes to life. A basic scope of the future of your business, and what that means to you.

• What Product/Services will your business offer?
• What makes your business Unique?
• Why do you want to bring this product/service to people?
• Is there any competition in this market?

2.  What’s it Going to Cost you?

Cost is inevitable, having a plan in place and preparing for these costs, is One Key to a successful business.

• Raw Product Costs = What you need to make your product
• Your Online Store Front = How Customers Shop with You
• Marketing, and Social Media Presence = Get your Business out there
• Shipping, and logistics = Getting your product and Services to your customers

3.  Self Funding, Or Investors?

Are you investing into your small business, or do you Have / Need Investors? Do you have adequate funds available to go all in, on your own? Meaning you cover the cost entirely out of your own pocket. Some may come from cash, maybe savings. Some may be personal loans or credit lines. Making sure you have, not just the funds to cover the business costs, But to live on, is very important. You still need to pay personal bills and groceries. We know surviving on Ramen is doable, but investing what you don’t have is not good business.

4.  Creating a Business Plan

If you have opted to forego the Ramen and go with investors you will need a business plan. A well-thought-out, practical view of what you are asking them to put their money into. They don’t want to throw money away or represent a firm that depends on their judgment. A Professional business plan has many aspects, that build trust in investing in your small business. Showing them why they should back you, instead of the thousands of others, is a hard sell even with an amazing plan. A cocktail napkin with pizza stains and scribbles Is not going to cut it, and definitely won’t scan well. Sometimes, the best investment in your business is, allowing professionals to assist.

5.  Find the best Resources, Quickly

The foundation for a strong business has a lot to do with the resources available. From where to get the most affordable raw materials to what investors are in the market to work with a business like yours. Have quick, reliable resources can make or break your small business. A small business owner not only wants a chance to build an empire but to be able to protect that empire, as well. A sign of a strong leader and business owner is, knowing when you’re out of your element. Then securing professionals with that expertise. By outsourcing tasks to Specialty firms, you ensure your business’s future is bright, and leave time for you to focus on building your empire.