Easy Guide To Planning Your Business (Get Started With Little To No Money)

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I know there are so many things to keep in mind and it can get frustrating. I recommend you get a notebook and a planner. Take notes from what you’re learning, mark important dates. Take notes of everything that is necessary. Highlight important details you’ll need to make outstanding. Make a list of things that need to be done and check them off once they’re finished. When you become an entrepreneur, you are wearing many hats. You’re learning in every step of the road. And you’ll keep on learning to advance and grow. 

Take notes of everything important. Take breaks and refresh your mind.

Note: Visit our store for handy affordable items such as planners, calendars, and a business plan. Great to get you started without spending a fortune. Visit Here.

Plan out

Depending on your type of business you are planning to start up, there’re some important factors to think about:

As mentioned before, is your business on demand? Does it solve a problem? Does it fulfill a need? What purpose does your business have?

How will you be able to advertise to your audience? Are your customers able to reach you? Or are you able to reach them? If so, how? How will you be able to communicate with your clients?

How will you be able to give your service/product? Who will be for provider/supplier? Will you have a physical location, an online store, or both? How will you get your material?

I know it’s too many questions and too many things to do all at once. Take one step at the time. Don’t try do everything all at once. That’s why you’re first starting by writing a business plan. That’s the part where you can analyze your blueprint and make alterations. Have second backup plan incase your first option is not available.

Write down your blueprint for your business. You’ll have a general idea of how it’ll look like.

Service vs. Product

Decide if you’re planning on selling a service or a product. What is the difference?

If you have a service business, you are offering your skills. Do you have knowledge with graphic design? Know about wedding planning? What about filling taxes for others? You are selling your skills in order to make profit from it. You need to figure out if you need to go to your customer or the customer comes to you. For example, a plumber will go to your house to fix the problem. Whereas with a doctor, you’ll need to go to their clinic/hospital to get check. 

A service business can be quite cheap too start.

If your business sells a product, you are promoting a product. Whether it’s physical or digital, it’s not your skill/knowledge you’re offering. Examples: digital files, eBooks, courses online, software(digital/physical), computers, books, DVDs, etc. You need to figure out where you’re going to get the product, material, or what you’re selling. Where you’re going to store these items while waiting for them to be sold. Who will be you’re supplier? If you’re selling in a physical location, online, or both.

Drop shipping

Another option: Maybe a good way to start would be drop shipping. You set your page, sell items from other supplier, sell those items to someone twice the price. The supplier receives his payment and ships the item for you to the customer. There are ups and downs into this type of method, but it’s a good start. You don’t need so much front cost from this method. It takes less money from your pockets. 

Image from shopmaster.com explains how drop shipping works. Great platform to implement into your store.

Business Ideas That Require Little To No Money

  • Print-on-demand
  • Freelance
  • Sell your items you don’t need
  • Fiverr.com
  • Babysitting
  • Run errands for other people
  • If you have a popular social media, offer to run ads for small business

Tips

Tip 1: it’s ok to change things as you’re going. I recommend writing a business plan with all the details such as expenses, locations, supplies/suppliers. Sometimes you realize that something was not right in your plan and you can fix those mistakes. 

Tip 2: always have a backup plan. If a supplier runs low on a popular item your selling, make sure you have another supplier that can sell you the same item, even if it’s a bit higher price. 

My checklist for starting expenses. Some are estimates or left blank.

Now what?

Now that you know more about your business, let’s talk legal terms. What type of business structure should my business have?

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