Start Your Business Today
Entrepreneurs often reveal that the timing is never perfect for starting a business. Jeff Taylor, CEO of web design and marketing firm DEVISE states, “I’ve had thousands of ideas, but unless you put action behind them, nothing will come of the idea.” “There’s no reason to wait for the perfect time to start a project. Start working on it today.”
Grow an Online Presence
Thanks to the Internet, accessing customers, managing a business, and connecting with suppliers and investors has never been easier. However, is competing with the millions of other businesses vying for online attention worth your time, and how do you start?
Research indicates that people are spending more and more time online, especially on their mobile devices, to purchase and research everyday decisions. The statistics are staggering, and they are further proof that maintaining an online presence is critical to running a successful business.
- There will be 201.7 million online shoppers in 2015.
- Over 73% of the global online population accessed the internet from their mobile phones in 2013.
- In April 2012, 30% of U.S. adult cell phone users have used their phones to decide whether to visit a business such as a restaurant.
- As of January 2014, 90% of American adults owned a cell phone.
- In 2014, over $200 billion worth of sales took place on the internet.
Kimberly Palmer, senior editor for U.S. News Money, explains that successful online entrepreneurs “rely heavily on online communities of similarly minded people. Twitter, Facebook and other social media outlets make it easy to connect with like-minded people. Instead of thinking of other people in your field like competitors, embrace them as mentors and friends.” Furthermore, she suggests, “Promote yourself – and your product and service – frequently. Make sure your underlying message helps people or makes their lives easier, to keep your customers coming back for more.”
Follow Your Intuition
Now this one is easier said than done: trust your gut over a spreadsheet. Naveen Jain, founder of World Innovation Institute, Moon Express, Intelius and InfoSpace, says, “Spreadsheets spit out results from your inexact assumptions and give you a false sense of security. In most cases, your heart and gut are still your best guide. The human brain works as a binary computer and can analyze only the exact information-based zeros and ones (or black and white). Our heart is more like a chemical computer that uses fuzzy logic to analyze information that can’t be easily defined in zeros and ones. We’ve all had experiences in business where our heart told us something was wrong while our brain was still trying to use logic to figure it all out. Sometimes a faint voice based on instinct resonates far more strongly than overpowering logic.”
Don’t Play with Money
CEO and co-founder of Fundera, Jared Hecht, addresses the issue that a lot of entrepreneurs tend to make poor financial choices, “What mistakes could be costing you money? Maybe you’re missing your payment dates for your credit cards and overpaying? Or getting charged fees for paying your own suppliers late? …Take some time to work through your business processes and identify places you could be unknowingly losing money. If you’re unsure, reach out to your accountant or bookkeeper for help.” Furthermore, get a great business lawyer to help you establish your company. With the right legal and financial advice, you can prevent future fines, fees, and penalties.
Stay on The Cusp
Technology is always changing so its best to stay abreast of the newest advancements. Startups tech companies, succeed when they learn to stay on the cusp of new technology. Jason Glickman, co-founder and executive chairman of Tremor Video, realized that the then-standard way of online advertising with standard ad banners was about to be outdated. Online video was a rapidly increasing market at the time but was also expensive to create and stream. However, Glickman saw potential and thought “wouldn’t it be interesting to see some of those TV [ad] dollars move into online?” Through thinking creatively and continuing to challenge his team, Glickman led Tremor to become the Internet’s biggest video ad network with over 1 billion video impressions per month.
Ready to start your business? Get in touch with UpCounsel Business Formation Attorneys to begin your journey.