Top 10 Tips to Starting a Business

Starting a business can be very scary. It has a crazy amount of preparation and can be very time consuming. Not to fear, I am here to help! On my instagram, I made a post to have other "teenpenuers" tell some other their best tips for new business owners. From that, I have put together the "Top 10 Tips to Starting a Business"!

1. Plan and stay organized.

Before you start your business you need to get a folder, binder, or notebook to use to keep track of everything you are doing with your business. You should start with one plan that lays out the first few months of your business. You'll need this to help keep you organized as your business grows and you plans change. It is perfectly fine to change your plan and your plan DOES NOT HAVE TO BE PERFECT. It is very important not try to spend years trying to make "the perfect plan" because it will never come. With that being said, have a plan and checkpoints that will help you stay focused and keep you on track.

2. Do your research!

No matter what kind of business you start, it is very important to do research. You need to do research on the type of business that you would like to start to see if there is a market for it. You also need to do research on things like vendors, manufacturers, and any one you plan on going into business with. DO NOT JUST GO INTO BUSINESS WITH ANYONE! Also, do research on how people start businesses like yours. There is no reason reinvent the wheel. Watch videos, read articles, get as much knowledge as you can on how to better your business and continue to research on changes in your market as you grow.

3. Promote! Promote! Promote!

Promoting your business and finding people who will promote you is very important. Even if your friends or family dont promote you, you have to do it for yourself. If you have more than one page, post your business on every page you have. Do not be afraid to dm people and tell them to follow you or repost you. As a business owner, you have to work to build that clientele because no one else will do it for you! For promotions also dm @thedmvmarket, we would love to promote you!

4. Believe in your business!

You have believe in you business at all times. The reason to start a business is not to make money, because that takes a while to do. Whatever business you start should be started out of passion. With passion comes pride in your work and thats how businesses grow and flourish. Customers are drawn to the passion and belief you have in your business and can see that in what you sell and how you conduct yourself. All the research and preparation does nothing if you don't believe in what you create.

5. Business is not a race!

It is always important to remember there is no race to the finish line in business.Your business will grow at its own speed. Do not try to compare your business to someone else's. With that being said it is okay to understand who your competition is and try to stand apart. If there is someone doing well in a market you are in, ask them to mentor you for for advice. You could even ask to collaborate with them but, dont let their success make you forget what your company was built for.

6. Be consistent!

To ensure that your customers stay with you, you have to stay consistent. This can be done in many ways. On your instagram, you can have frequent posts or things that draw people to your page like giveaways and threads. This could also mean picking certain days to post like a Motivational Monday. Being consistent is important because you dont want to get lost in peoples timelines. If your company has a website, you could also pick times to upload new products so that your returning customers coming back so they have new things to look for.

7. Support other businesses and network!

Supporting other black owned businesses and small businesses in general is very important to growing your business. Networking and interacting with small business owners helps you learn more about the business you're in. It leads to good relationships between business owners for collaborations like giveaways, crossover collections, and pop up shops.

8. Be professional!

A lot of times black owned businesses and businesses owned by teenagers are thought to have bad customer service. It is very important to be professional because it sets you apart. People will come to you and work with you because you are professional.

9. Quality over quantity!

You can start a business with one good product. When first starting a business do not need a lot of products until you start to make more money and build clientele. Your starting products should be products that draw people to you and make them want more. Also, the starting products can become the base style for your brand. For example, you know a Chanel purse without seeing the logo because of the signature quilted pattern.

10. Set attainable goals!

For me, the most important step was to set goals. You should start with goals you know you will reach like having a certain number of followers by a certain day or even something as small as picking your logo. These goals will help your document your growth and make you feel like your business is moving forward.