Tips for Starting Your Own Business

There’s a certain romance, even sense of adventure, to starting your own business. Breaking free from the cubicle and going out on your own in the business world can be both exciting and a little frightening, but it’s not without its rewards. The moment you say adios to your days in the cube, you are entering a realm trodden by many entrepreneurs, some who have even become quite successful on their own. Of course, unless you are rolling in dough or have worked on the side and are transitioning into a self-sustaining role full time, starting your own business can be financially treacherous. Take heart though, for starting your own business is a goal well within the reach of most individuals, and while your enterprise may not be based out of a downtown high rise building, it could well be a profitable cottage industry that affords you the freedom to do what you love doing most.

Here are some tips on how to start your own business:

Use Time in the Cubicle to Your Advantage

If you think your time behind cubicle walls is time that has been wasted, think again – a couple years in a job like that gives you invaluable experience. Whether you are a search engine optimization copywriter, customer service representative, or insurance agent, you can use the skills you learned on the job to help you find a role that you will be skilled at when you break out on your own.

Get Schooled on Starting a Business

There’s probably never been more advice, seminars, and how-to books on starting a business than there are right now. Read up on the ins and outs of starting a business, and check out your nearest community college or university to see if they are offering any courses in business management. Most institutions allow you to take courses without having to seek a degree, and some schools even offer free classes.

Make a Plan

Sure, we all have business ideas in our heads, but how many of us actually write these plans down on paper? You will need to put your business plan in writing to really “see” how it looks and to convince others to provide the money you need to get your business going. After all, nobody will even consider lending you money to start your business unless they can actually see the idea in writing and get a feel for the business model you plan to use.

Raise Money

You will need plenty of cash to get your business started, and while you will need that plan to help pitch your idea to the people who can afford to get it off the ground, you will also need to find other ways to fund your up-and-coming business. Consider turning to your bank for a loan. Based on your credit score (if you have a FICO score of 680 or better, you’ll probably fare well), you could qualify for all the money you would need to get your business off the ground with a loan.

In addition to the tips above, don’t forget to check out the United States Small Business Administration (SBA) for more tips on starting a business, getting a loan, and winning government contracts. The SBA has helped countless individuals just like you start businesses and has provided those enterprising individuals the tools and resources they need to stay afloat in the business world. From running a business to marketing your products and services, the SBA is sure to have the information you need to achieve the business results you want.