5 Steps to Start a Business

Thinking of starting a business or just curious? Maybe you’ll end up using the information to help someone else.

I starting hosting seminars again under my company Vive Entertainment Enterprises Corporation, a service and educational non-profit. I also perform free mentoring through the state: Amoni B NYC. Last Saturday we, my business associates and I, spoke on how to start a business and did a Q/A for those who came or called in.

young women of color sitting at a table

Here are 5 steps to start yours:

  1. Turn Your hobby Into Your Money Stream: whether you have a job or not, you can turn most passions into a business. Perhaps you love to sew, talk or eat. That can turn into being a fashion designer, event host, or food network executive. Maybe not an exec, but a restaurant owner. Either way, take time to ideate on what you can do with your talent or hobby (sometimes you many not be as good as you think but keep motivated and hire others ).
  2. Solve A Problem: You do not need to reinvent the wheel! But make sure there is a market for your business. No one wants to see 5 Salad Bars in a 5 block radius, nor will each one make enough money. Heck, there is competition at the two located in Rockefeller Center. How ever if there is none, there is an opening for what you want to do. Whether you solve your own problem of wanted salad near your home or solving the problem of giving healthy choice options for your neighborhood, you may succeed.
  3. Know When To Be Selfish: This point actually came to me in a dream. I’m always doing for others and sometimes I neglect my needs and wants. If you want to be successful you must be a little selfish. Save your money for your business goals, don’t use what you need to give to your always begging little cousin. Take time out for yourself and try to be too consumed in either direction. Most of all don’t let distractions deter you from the bigger picture.
  4. Training Tuesday Will Land the Deal Monday: No matter what you do, you will need to do research and development. You can’t expect to open a winter accessories cart on the street of Miami if you haven’t looked into the weather. You must plan according to the facts. Ask yourself: What is my target market? What problems will I solve? What and where is my competition? Will I make money, how? What do I have to do before actually starting? Does it make sense? …. You see where I am going with this. Don’t forget to take seminars, ask for help, and shadow people doing what you want to do.
  5. Get Those Documents In Order: It’s simple, based on what you need to do you will need to get incorporated, next  get a tax ID, and after understand the licenses your business needs and apply for them. Maybe it’s just simply stated . If you need help use these free services.

STAY MOTIVATED AND NEVER GIVE UP


QUESTIONS TO THE AUDIENCE:  Is there anything you looking for help doing? | In need of entertainment services, technical assistance or business help?

 

Make sure to check out my last post, and stay tuned for my posts every Monday

8 thoughts on “5 Steps to Start a Business

  1. Love the time spent with amazing women who are passionate and genuine about giving back and paying forward.
    I so enjoyed the call in line.
    Information is free, and if shared there is no doubt that prosperity will follow.

    Never be limited by other peoples limited imagination!
    The world is yours, make each day count.

  2. I would love to start a business and find this to be great advice. I’m so unsure right now as to what business I wish to create that I’m uncertain if I need help in any specific area of focus. Although, I originally wanted to have a bakery. College has opened up so many opportunities that I now have considered starting a dessert themed restaurant.

  3. Pingback: Timing is Everything – 5 Steps To Be On Time | The Buzz

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