Congratulations! You've signed the dotted line and you're officially a business owner. Now what? The good news is that you've managed to conquer the initial step of getting started. What typically follows is pondering, "What do I do next?"
There is so much to do and it can feel overwhelming to filter through all of it. It is quite common to feel stuck and paralyzed during this start-up stage. Since you have successfully sought out the right people to help you lay the foundation, the next phase is to develop your business.
Most business owners are eager to get going with their new venture. Excitement permeates the air. Oftentimes, you are telling everyone you know (a great marketing tool, by the way, so stick with spreading the word). You may ask, "If I'm so enthusiastic, why don't I know what to do next?" Think back to your first job. You probably had some training and support from your boss and other colleagues. As a business owner, you may feel alone, since this is your company and you don't have anyone to lean on for support.
The good news is that you have a skill set, which is what led you to start a business in the first place. Building upon your strengths is key to running a successful business. Know what you're good at and outsource what you're not. Trying to do it all isn't always best. There is a learning curve with starting up and part of the trials and tribulations stems from the growing pains of figuring out what works and doesn't work for your particular business needs. There are, however, some helpful tools that all business owners should consider.To begin, here are a couple of helpful hints: BALANCE. By allowing yourself to operate at a slower pace, you avoid the pitfall of burnout, which is experienced by many business owners. Deciding to start your own company perhaps was led by a decision to get out of the rat race of the corporate world, yet you're finding yourself working 60+ hours a week without any downtime. This scenario is quite typical, so you're not alone. Some simple ideas to consider:
With balance and focus, you will be able to reduce burnout and build momentum. Each goal you finish is another stepping stone on the path toward developing your business. Take time to give yourself kudos for your hard work and dedication. It may sound simple enough, but taking stock of where you were helps you gain perspective on where you're headed. Be mindful that during your first year of business operation, there will be many peaks and valleys, ups and downs. It may feel a bit tumultuous, but if you're aware of what to expect then taking the ride can be quite fulfilling and rewarding.
Michelle Paquette, MA, is the Founder/Owner of All Ways Consulting in Agoura Hills, CA. She offers life, career and business coaching services and strategies for entrepreneurs and business owners.
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What is your first step? Simply choose which of the following two options applies to your business:ALREADY INCORPORATED in the state of Nevada? 2015/08/15 - Your annual fees increased from $325 to $650, and that’s not including the Commerce Tax if it applies to your business! Further, you will now be required to file your tax return with the NV Department of Taxation with June 30th as the fiscal year, not the calendar year! Review these changes with your tax advisor immediately! If you choose to re-domicile your corporation in another state, MyLLC will file the re-domestication paperwork for you!
MyLLC is committed to assisting you in this process but you must contact us today!Call us toll free at 888.88.MYLLC or fill out the contact form so one of our experts can help you.