For Brandon Wetzel of Yardley, PA, anyone who aspires to be a business owner can achieve their goals without breaking the bank or spending sleepless nights making things work. While hard work is part of any endeavor, especially launching your own startup, you don’t have to become a slave to it. Time management is key. But first, Brandon says, you’ve got to act. You’ve got to transform your ideas into small, actionable steps. If you’re serious about starting your own business, taking action is the first critical step.
And what Brandon Wetzel of Yardley, PA has discovered is that most aspiring entrepreneurs become so overwhelmed with all the details they need to work on that they stop in their tracks even before they started. And what would have been a unique, profitable offering was never given a chance to prove its worth.
Here are Brandon’s three easy steps to launch a successful startup:
1. Determine a budget
For Brandon Wetzel of Yardley, PA, this is one of the most neglected aspects of starting a business. Often, entrepreneurs shell out money for the business without considering whether spending for something is necessary, or if they’re spending more on certain things than necessary.
What you need to do then is to spend time working on your budget. Be as detailed as possible, and make sure to identify fixed costs and variable costs. Fixed costs can include overhead expenses like utilities, office space, and employees’ salaries.
Variable costs are costs that may change over time. These can be related to production costs, where the more there is a demand for the product, the more you will need to produce, which means you’ll need more materials and temporary labor. These may likewise include sales commissions, perks, and other expenses outside of your fixed, monthly expenditures.
2. Create a concise business plan
Don’t get into any business without a concrete business plan. While you’re still starting, it might be to your advantage to go it your own first; meaning, don’t seek out investors first. Start small, and start with what you have. With that said, create a brief business plan; one page is ideal so you won’t be overwhelmed. This plan will include your mission and vision, objectives, strategies and action plan. When the time comes to expand, you can write a more robust and detailed business plan.
3. Create a website
Whether you’re an online or offline business, it’s important to have a website dedicated to your business. The website will not only serve as an information portal for your consumers, but more importantly, as a place where they can buy your products or hire your services. If you’re selling products, you should also consider adding a shopping cart on the website, and include details about delivery, shipping, and returns.