Getting your business off of the ground
If after all of the thoughts, mental anguish, questioning friends, family and coworkers for input, you still decide starting a business is something you want to do, then do it, and do it well!
That said, we all know there’s nothing worse than a small company taking up space and bringing a bad or boring brand to any business community. Pour your heart into it and dive in. This is still the fun part. The part you look back on so naively and wonder “if I only knew then what I know now…” Enjoy this.
Daydream of your company name and logo on a sign panel, thousands of drivers passing it daily on a freeway and running into people that know more about your company than they know about you personally.
So where do we get the funds to start a business?
For most people, the 99%, funds aren’t coming from wealthy trusts, parental gifts and padded estates. They come from good old fashioned savings, small loans from friends and family (don’t do it, just don’t), or maybe even a small business loan from a bank when they are feeling willing and able.
In the beginning, cash is the way to go. Even if it takes you longer, the lack of a headache for one thing such as not making a monthly payment on a debt is well worth it. You will have enough other headaches than that! As you continue to grow, a small business loan will be something to consider. Once you have enough business there will come a time when the next phase of growth may require an influx of cash to really move forward.
Steps for getting started
The basics you will need to budget for:
- Brand design
- Basic legal documents like your DBA, LLC, etc.
- Basic collateral- business cards, sign panels and name riders, laptop, maybe a printer (go all cloud and digital docs if possible!)
- Office space? Could you work out of your home for the first few months?
- Virtual phone line
My budget wasn’t huge and yours doesn’t have to be either. Save your hugeness for your vision right now! I had a dream one night of a logo and color scheme that I wanted. I didn’t see red, blue or yellow as any part of my vision, nor a house, key or city silhouette.
I had to find a designer who wasn’t super expensive. I had some designer friends but didn’t want to risk free business with friends and waiting forever for something that wasn’t their main job. So etsy.com it was. There are other freelance sites out there where you can get quality logo design with not spending thousands of dollars.
When setting up a solo practice, or starting a small business, try to keep it simple. Revisions will come with growth and future changes to your business mindset. So take baby steps, and get started, whether it is funding your dream, or getting your first logo out there.