So you’re looking at starting a business. Don’t know where to start? Branching off on your own can be an exciting prospect, but also a daunting exercise if you’re not focused about it. This can be especially overwhelming when you have big dreams and big ideas you want to realize. It’s easy to lose track of everything you want to accomplish.

How do you start? Let’s begin by breaking up your new venture into its component parts with our top strategies to start your business from the ground up

Brainstorm

Every great idea begins with a spark. Think of brainstorming as the kindling that keeps that flame going. Clearly define what your idea is. Who is your customer? Who is your target audience? Who are your competitors? What problems are you solving for your customer? What do you offer that your competitors don’t? Starting your business begins by researching your market and constantly putting yourself in your ideal customers shoes.

Create a Solid Business Plan

Consider a business plan as the blueprint to your future company. Take your brainstorm and put it down onto paper to formulate what you actually want your business to be. Most great business plans have 5 key sections:

1. An Executive Summary
2. A Description of your company and what you do/offer
3. A detailed market analysis. What are the needs of your customers, who are your competitors and where do you fit in
4. Marketing and sales strategies
5. Financial projections

What are Your Resources

List out what your current assets are, then map out what you need. Will you be needing a website? An email marketing platform? Research which platforms are free to use while you get your business off the ground. You can always upgrade later based on what your future resources are. Will you be working from home? Or will you be needing an office or co-working space?

How do you Plan to Create Brand Awareness

With so many different options out there, you need to decide which platforms you will be marketing on. We would recommend using three to start. Are you planning on creating a blog? We recommend Pinterest. Will you be creating videos? YouTube is an obvious choice. Choose the platforms that best fit your target audience and where they spend most of their time

Set SMART Goals

It is so important to start setting goals early in your planning process. While your dreams may be big, it’s important to set goals that can act as your building blocks to get to your end goal. Enter SMART goals:

1. Specific

Set very clear goals. The more you narrows down what it is that you actually want to achieve, the more you’ll understand what you’ll need to get there

2. Measurable

How will you track that you are moving closer towards your goal or when you’ve attained it. Set clear milestones on the way to your final goal to celebrate your achievements on the way there

3. Achievable

We all have big dreams we should reach for, but are those dreams realistic within your time-frame. For social media for example, it’s likely not realistic to achieve 10K followers in a week, instead set smaller more achievable goals to get there (ie I want to grow my following by 20 a week. Setting goals that are attainable within a certain frame of time will help keep you motivated, confident and focused.

4. Relevant

Do your goals actually align with what your end goal is. If the goals you’ve set don’t match up, ask yourself why this goal is important to you and how it will help you get to where you want to be.

5. Time based

In order to set any kind of goal, you need to create an end date. This can help you stay motivated and prioritize your workflow. If you haven’t achieved your goal in your set time frame, reflect on why. Was your timeline unrealistic? Is your goal realistic?

Why are You Starting a business in the First Place

It’s always important to remember your WHY. Write down what it is that motivated you to take this step. Write down how you feel. Are you excited? Do you feel confident? On days where you need a little motivational pick me up you can always refer back to this and it could steer you back in the right direction and a more confident frame of mind.

Believe in Yourself!

Perhaps most importantly you need to believe in yourself. How do you expect people to believe in you when you can’t. We all get down in the dumps, we all lose confidence, life isn’t always rainbows and Beyoncé. Let yourself feel, but don’t let yourself drown in your own self-doubt. Pick yourself up and refer back to why you started this journey in the first place

How do you stay motivated when starting your own business? What are some of the strategies you use? Let us know in the comments below. For more articles on business, entrepreneurship and work-life balance sign up for our weekly emails.

Need some help getting started? Check out one of our 1:1 Consultation sessions