Always Dreamed of Starting a Business? Do These 8 Things First

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Photo by Jessica Lewis on Unsplash

Have you always dreamed of starting your own business, but not sure what kind of business, how or where to start?

If you’re thinking about making the leap from a predictable 9–5 job into the world of entrepreneurship, it’s easier now more than ever to do so. With startup and marketing costs being driven down by technology and immediate access to research and information, starting a business is not as daunting as it may seem. Even if it’s a side hustle, you’re still venturing out on your own and taking control of your destiny.

While it’s easy to start a business, keeping the business afloat takes determination, resourcefulness, tenacity, and patience. However, if you can get through it, it’s well worth the ride.

I’ve been an entrepreneur for over 17 years. I’ve started for profit companies and a non-profit organization. I’ve had employees, 1099 contractors, different types of corporations, and been a sole proprietor. As a certified business and entrepreneurship coach, I help people start and grow their own businesses and diversify their income streams. As a Life Coach, I help entrepreneurs and senior-level executives get past any limiting beliefs and mindset blocks, get unstuck, and discover their purpose.

In addition to that, I mentor students in the Paul Merage School of Business at University of California, Irvine in its Masters of Entrepreneurship program. I’ve seen people start a business and fail miserably, and I’ve seen people start a business and become a huge success. I’ve had my own ups and downs in business. Research has consistently shown that roughly 20% of businesses fail within their first year. Almost half of all businesses don’t make it past 5 years.

If you want to be one of the lucky ones who survives and thrives, here are some tips to help get you started and guide you along the way in your entrepreneurial journey:

  1. Figure out what you want to do. Make sure you are pursuing a business opportunity that aligns with your passions and purpose. Otherwise, you won’t be as passionate about building, growing and maintaining it. For example, if you love pets, consider starting a pet business. If you’ve always had a knack for working on cars, look into starting an automotive business.

Now that you have the basics down, you can move forward with starting your dream business. With hard work and dedication, and depending up your upfront costs, you can begin to see a return in your investment especially if the new product or service you offer are in a high demand market, or if they fill a void in the market.

Starting and owning a business comes with its challenges. Don’t get discouraged when you’re faced with roadblocks or obstacles. They’re going to happen. You just need to push through and remain focused on your goals and why you decided to start a business in the first place.

Being an entrepreneur means you are willing to take risks and ride the roller coaster of entrepreneurship. It is very rewarding, but it’s not for the faint at heart. With the right foundation and by remaining positive, focused, disciplined, and having an attitude of perseverance and a lot of grit, you can make your business a long-term success.

Good luck!

Written by

Writer & NLP Certified Coach. I teach people how to realize their greatest potential and use their gifts to make a difference in the world. I also save animals.

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