Launching your business in 2011 does not set it up for ultimate failure. Although some people might be hesitant to launch a new endeavor with the economy in its current position, the right opportunity is not always dictated by outside circumstances. It is always a good time to launch the right business, but finding that right business can be the challenge.
The passion and heart that drive a business can mean as much to the success as the perfect launch moment. Back up that drive with a solid business plan and you will have the right tools to launch your business in 2011 and find success in your efforts.
Tips for choosing a Business
1. Start with what you know – look at all the things that you already do that you love. Turning a hobby into a profession usually requires the right business model and marketing plan. Start looking for the perfect business to launch in 2011 by looking at all the activities you enjoy.
2. Look at the need (or want) – determine if others are likely to pay for your expertise and experience in these areas. Search the internet or even the local yellow pages to see if other businesses are working in the same field. Odds are likely that if more than one business exists then you may be able to turn your hobby into a business as well.
Count Down to Launch
5. Develop a solid business plan that includes a mission statement, vision statement, long term/short term goals, budget and marketing plan. It may require talking to an expert to fully develop the business plan, but this one document can be the best road map to finding your way to business success. The local Small Business Association offers free counseling for developing your business plan.
4. Begin testing the plan. Service businesses should be offering products to a limited field. Retail businesses need to have some practice runs before opening to the public. Practice the different aspects that make your position unique before launching to the general public.
3. Start the buzz. Send out press releases about the business opening, publish advertising in local publications or develop a website that will offer potential customers the opportunity to get to know the business. Build up the anticipation to get people excited about the launch.
2. Plan the Grand Opening. Contact the local chamber of commerce or business association to invite them to hold a ribbon cutting for your business launch. Invite potentials customers to come see the business, or for those businesses that are centered on services it may be wise to provide pictures or other tangibles that show what they will get by connecting with you.
1. Blast off to your new business venture. Open the doors wide to the general public. Put out the We Are Open sign. Do all that you need to do to leap out into a full launch of the enterprise.
The economic times may make it scary to launch a new business, but they also make it the perfect time. Finding the right venture could allow you to be in a position to take advantage of the economic upswing that experts predict has to be just around the corner.
Learning your own passion can help in determine what direction to take your entrepreneurial endeavors. Creating a solid business plan will help you stay on track. With these two blocks in place, you have a strong foundation for making the most of your dreams. Put the tools in place so that you can have a successful launch of your business in 2011.
Mark has been in the start-up community for 3 years, he currently blogs about enterprise microblogging and how start-ups can utilize a brokerage account.