Starting your own business is not an easy thing to do. Your first 100 days will seem more like 100 years. But, having a goal you want to achieve with this business and ideas you can’t wait to develop make it one of the most rewarding things in the business world. All these opportunities waiting for you to make the most of them is what will help you become a successful business owner.
But, before you start working on developing your ideas and building your business, you will need to take care of all the things that should be handled in the first 100 days. Keep in mind that skipping some of the things on our start-up checklist could harm your business in the long run. So, start crossing them out from the list and allow yourself and your business to grow as much as possible.
Determine Your Budget
Make a list of all your expenses for the next 100 days to determine how much money you will need. Unfortunately, there are a lot of business owners who will decide to start a business and have brilliant ideas but will not ensure to have enough capital to start. No matter how good your ideas and skills are, the money is still a determining factor for your business success.
When you decide to start your own business, you will be in charge of every operation. You can choose from numerous free and paid tools, programs or software solutions. Don’t be afraid to invest in those that are crucial for your business. For instance, if you’re going to hire freelancers, you should find good communication tools to discuss projects with them. Also, having a project management tool could help you keep track of all your activities.
Starting your own business is more challenging than you think. You don’t have someone to push your forward or to motivate you to complete the task in front of you – it’s all up to you. You will have to work a lot on your self-control, and focus to maintain your productivity. Keep in mind that your friends and family might not respect your working hours, so it’s crucial to set boundaries for them as well as for yourself. It’s very important to explain to them that being a business owner requires even more dedication and work than being a full-time employee.
Invest in Proper Fire Safety Equipment
Protecting your business property from possible disasters should definitely be on your start-up checklist. You should consult a security professional to help you analyse your risk exposure and create an emergency evacuation plan to protect your business from fire. Install fire suppression systems, purchase automatic fire sprinklers and fire ducts, and portable fire extinguishers. This should be included in your budget for the first 100 days as it will be one of your higher expenses. However, don’t postpone it as it can have severe consequences for you and the business.
Find the Best Health Insurance
Usually when we talk about insurance for businesses, we always talk about insurance policies for your business property if unpredictable events occur. As a business owner and your own employee, you will need to take care of your health insurance as well. Starting a business will put you under a lot of pressure and you shouldn’t neglect your health. After all, if you’re not healthy, your business performance will tremendously suffer.
Find People You Can Trust
You will need people right from the start and they don’t necessarily have to be your employees. For instance, if your best friend is a financial expert, why not ask for a piece of advice before it’s too late? If you’re not sure whether you should sign a one-year contract for renting that office you like or if you should start slowly, maybe there’s a real estate agent in your family who can solve that dilemma for you. Allow others to help you, as you would do the same for them. In other words, you won’t succeed if you don’t ask for help when you need it.
Invest in Your Professional Development
Great business owners invest in themselves from the start. Take a few courses in website development and graphic design, sign up for a creative marketing webinar or start working with a life coach. When you run your own business, you should never stop learning or you will stay behind. What are the recent trends in your industry? What are your target audience’s preferences? Always be aware of everything that’s happening around you and be prepared to turn it into your competitive advantage. When learning, regardless of the field, you’re boosting your creativity and your business mindset. Investing in yourself is the best investment you can make in your entire life.
Every beginning is difficult but if others made it, you can make it too. Stay focused and determined with our checklist and try to finish everything on time, whether it’s documentation or your fire protection measures. The more things you take care of in the first 100 days, the rest of them will be more enjoyable and beneficial for you.