It’s hard to believe 2021 is almost over—but here we are. And if you’ve been thinking about starting a small business for a while, then the upcoming year could be the perfect time. But I totally get that it can be hard to know where to start, so let’s walk through five important tips that will help you make that small business dream a reality in 2022.
The purpose behind your business will fuel you when times get tough (and they will). So, take plenty of time to get quiet, journal if that’s your thing, and reflect on why this business idea is important to you—and how it could help people out there in the marketplace. Trust me, once you have clarity on this, the rest of the steps get a whole lot easier.
Now it’s time to start the planning stage. Here are a few questions you can ask yourself when it comes to the details of your business plan:
Once you have the business basics planned out, get ready to make it official.
You’ll need to get a business license and choose what type of business you want to run (sole proprietorship, partnership, LLC, corporation or S corporation). I know all of that can sound confusing, but if you’re looking to start a small business that you’ll run yourself, a sole proprietorship will most likely be the way to go.
You’ll also want to plan for taxes by understanding what’s expected of you as a small-business owner. The type of business you start and whether or not you have employees will be two huge factors in how and when you do your taxes. Talking to a tax professional can really help you with these not-so-fun details.
Think about everything from how you want your brand to look and sound to how you’re going to tell people about your products or services. A few marketing basics that can help spread the word are a website, social media accounts, an email list, and in-person events and promos. Your marketing doesn’t need to be fancy or expensive, it just needs to be authentic and clearly communicate what you want people to know.
Once you have all the details in place, don’t spend too much time waiting for everything to be just right before you take the first step forward. It’s okay to start small, but you do have to start. And once you start, don’t give up! There will be ups and downs and rough spots along the way, and it won’t always be easy, but I promise it will be worth it to see the vision of your business come to life.
For more practical tips on starting your small business, check out this article. You’ve got this!