The SmallBizLady Buzz - Issue 195

How to Start a Business in 2024

Careful planning is key. Here are the steps to guide you through the process of starting a business.

Get Clear About Why You Want to Start a Business: Understanding your 'why' provides clarity on your goals and aligns your business endeavor with your personal values. In challenging moments, your purpose becomes a beacon, steering you through uncertainties.

Identify Your Passion and Expertise: Choose a business idea that aligns with your passion and expertise. This will not only make the journey more enjoyable but also increase your chances of success. Evaluate your business idea by what skills you have and need to run your business.

Market Research: Conduct thorough market research to understand your target audience, competition, and industry trends. Identify gaps in the market that your business can fill.

Financial Planning: Create a detailed financial plan that includes startup costs, operating expenses, and revenue projections for 1-2 years. Explore funding options such as personal savings, credit cards, crowdfunding, microloans, or potential investors. You can also seek support from family and friends.

Business Plan: Develop a comprehensive business plan outlining your business concept, target market, value proposition, revenue model, and financial projections. A solid plan is crucial for obtaining funding and guiding your business.

Create a Marketing Strategy: Your marketing strategy should include developing a strong brand identity and establishing a professional online presence. You’ll need a memorable business name, logo, and relevant messaging. Then, use your website and social media to ensure consistency in branding. Your brand should reflect the values and personality of your business.

Build a Support Network: Surround yourself with mentors, advisors, and a support network. Seek guidance from experienced entrepreneurs and industry professionals.

Remember, starting a business is a dynamic process that involves continuous learning and adaptation. If you need help getting your new business off the ground, I’m here to help.

Now check out the featured article of the week, Top Ten Attributes of a Leadership Mindset.

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Top Ten Attributes of a Leadership Mindset

A leadership mindset isn’t a fixed trait but a set of qualities that can be developed and refined over time. It involves a commitment to personal growth, effective communication, and a genuine desire to lead with integrity and purpose. Ultimately, a leadership mindset enables individuals to positively influence others, drive positive change, and make a meaningful impact in various areas of life. A leadership mindset in business is crucial for driving growth, fostering a positive work culture, and achieving sustainable success. Here are 10 attributes of a Leadership Mindset. Continue reading....

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We’re only five days away from the SmallBizLady 1-Day Virtual Startup Bootcamp on Jan. 16th

Excitement is building; we are only days away from The SmallBizLady 1-Day Virtual Startup Bootcamp . This immersive experience is designed to empower you to start a dream business. Whether you're embarking on a new journey, launching a product in your eCommerce store, or expanding your business through acquisition, our bootcamp has something valuable. Click here to sign up.

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Scale success with automation

Whether you need simple integrations or complex workflows, Zapier offers secure and reliable automation as you scale. It allows you to automate processes without a developer. It also allows you to connect apps and automate workflows with — no coding required.

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Podcast: Beware of New Business Barbie

Checkout my recent podcast: Beware of New Business Barbie

In this episode, I share why business coaching is a great way to achieve your desired business results, but why you should be wary of hiring an inexperienced ‘new business barbie.’ I explain how to get the most out of the coaching process and how to ensure that you’re coachable, ready to set goals, and commit to reaching them with the support of your coach. I also dive into the three central reasons why, occasionally, coaching doesn’t work and how to avoid those pitfalls.

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Melinda F. Emerson, “SmallBizLady” is America’s?#1?Small Business Expert. She?is an internationally renowned keynote speaker on small business development, marketing and social selling. Melinda is also the president of the Quintessence Group, an award-winning marketing consulting firm based in Philadelphia, PA, serving Fortune 500 brands who target small business market. LinkedIn named her a Top Voice for 2019 in Small Business and Entrepreneurship.?In addition to being a former NY Times columnist, she is frequently quoted by media organizations including The Wall Street Journal, Fortune, MSNBC, CNBC and Fox News. She is the host of #Smallbizchat LIVE and The SmallBizChat Podcast. A prolific writer, Melinda has published more than 5000 articles on her blog www.succeedasyourownboss.com . Her small business advice is widely read reaching more than 3 million entrepreneurs each week online. She is the bestselling author of Become Your Own Boss in 12 Months, Revised and Expanded and Fix Your Business, a 90 Day Plan to Get Back Your Life and Reduce Chaos in Your Business.