Starting a business is a great way to earn a living and connect with the community. But too many new businesses fail to get a good start, making it almost impossible to experience long-term success. If you are thinking about starting a local business consider the tips and resources below as you begin your journey.

Lay the Groundwork and Go For It

From developing a business idea to handling legal matters to creating a marketing plan, it’s essential to build your business on a firm foundation.

The essential starting point is defining what problem you are solving for which community of people. Local and national businesses fail when they don’t solve a problem for specific individuals and when their product or service is well-differentiated.

Once that is clear, then consider these issues.

• Unless you already know precisely what kind of local business you are starting, research the web for business ideas, and observe your community to determine what type of business could succeed there. If there are 4 dry cleaners, what would be different about what you offer? (organic, chemical free dry cleaning?)
• When determining what type of business to start, be sure to factor in the skills and interests you have acquired throughout your career. What’s your superpower and how can you use it in your business?
• Early in the process, choose a business structure that meets your needs. Think carefully about how you make money and an effective business model.
• Hire an experienced business or marketing consultant to help you develop a plan and a marketing strategy. Find someone who has practical experience that recognizes the financial resources available.
• Increase your local visibility and network with other businesses by joining your chamber of commerce, meetup groups or other places where your target audience already congregates.

Prepare for Success

No matter what kind of business you are starting, there are basic practices that will help position you for success:

• Whether in a shop on Main Street or a desk in your extra bedroom, make sure you have a comfortable workspace. Keep your fixed overhead as low as possible.
• Invest in payroll software that automates the process of paying your employees.
• Invest in any tools and equipment that will make your day-to-day operations run more smoothly and efficiently.
• Come up with a solid marketing strategy, including your local market and beyond. Be clear about how you will get the word out about your products and services.
• If relevant for your business model, customize your Instagram posts by using an Instagram post generator like Adobe Spark Post to create appealing and shareable content to help market your business.

Maintain Self-Care

Starting and running a local business can require long, grueling work hours. Make sure that you take care of your health and well-being in the process.

• Maintain good sleep habits; if possible, get seven to nine hours of sleep each night. This may seem like an odd tip – but a well-rested business owner can function at a more effective level than one who burns the candle at both ends.
• Try to avoid relying on fast food and other quick, unhealthy foods. Eating a well-balanced diet will do wonders for boosting your happiness and productivity. Well-being is a powerful well to enhance how you feel about yourself and how your business will perform.
• Regular exercise can also improve your health, well-being, and career. So, try to find a fitness routine that you can stick to and enjoy. The best ideas for my work always comes when I’m walking.

There are many benefits to starting and running a local business. However, being successful will require you to set realistic goals, constantly plant seeds for future business, and turn down business that doesn’t fit your plans. Saying no is complex but vital to delivering value to the ideal customer or client.  

Be sure to create a solid foundation for your business, make preparations that will help you succeed, and practice self-care along the way. And remember that you will make some mistakes, so be sure to learn from them to improve constantly.

The best advice, once you have put your plans in place – is to begin.

You can set up a time to chat with me about your marketing challenges using my calendar. Email me jeffslater@themarketingsage.com Call me. 919 720 0995. The conversation is free, and we can explore if working together makes sense. Watch a short video about working with me.

Photo by Brett Jordan on Unsplash