Updated: Nov 29, 2020
I believe starting a company begins with a big idea -- in the moment that it comes to mind. Whether you start a business before, after or during a recession or global pandemic, it does not mean the company will be successful in the long-term. Can you start a business now?--Yes, of course! It may not feel like it BUT it is an exciting time to become an entrepreneur, build new products and solutions for what is becoming the New Normal.
Starting a new business isn't easy, even if you are starting an established franchise. There is no cookie-cutter way to start. Research, planning, prioritizing ideas and most importantly, being ready to invest in your own business first, beyond the financial investment, is essential.
If you don’t know where to start your research, ask someone who is already in the industry that you are thinking about entering. You will be surprised to learn how many people are afraid to just ASK questions. Simply, “How do you know so and so?” “What industry are you in?” I actually made a business connection with a celebrity by asking someone, "How did you find out about this event"? I didn't know the person I asked was the celebrity's best friend.
Most new companies start with a passionate mission to help others - with or without support. When I started Gibson Consulting, it was a side and in-between hustle. My target client at the time was the 'brand new nonprofit organization', which meant I had to be prepared not to earn any money right away. So, how did I pay myself? With connections … connections that I have to this day. Work relationships may not last long but the connections you make can last a lifetime.
Establish a relationship performance for your business. Keeping in touch and following up with people you come in contact with will help build your business in ways you'd never expect.
Be prepared to take baby steps. You have scoot before you crawl, walk, run and fly.
Be aware, and patient. Know that cultivating relationships can take months…. even years.
Be generous. Do not plan to reach out to contacts or do things for them with reciprocity in mind. People will think you're self centered.
Be open-minded. Remember that your tastes, perspectives and success is not to be a gauge for others.
. Starting a business can be very challenging. Insufficient planning and research can prevent you from putting your business ideas into action. So, remain a student of your industry, plan and strategize and keep your bigger picture in mind.
Want to Make A Move on a New Business Idea?
For companies just getting started, business planning is a perfect place to begin. With our professionals, new business owners can map out their success strategy with us and we will help them to determine their goals and how to accomplish them. Fees vary depending on how in-depth the idea and plan is and what you and your business needs. Learn more about Gibson Consulting business services here.