4 Essentials in Building a Business from Scratch

Starting a business is no easy feat. If you are seriously contemplating embarking on this journey, then go ahead and give yourself a nice pat on the back. You are most likely a very passionate person, a very driven person and surely a very brave person. Building a business from scratch comes with a long to-do list and extensive preparation. There is a lot to consider. Once you have decided to make it happen, you are faced with the inevitable question: where do I begin? As you are getting started, here are a few things that can make your process easier.

4 Essentials in Building a Business from Scratch

1. Get a Clear Idea of What Your Goals AreWhile your goals will most certainly shift and grow over time, it is important to have a clear delineation of your initial conception right at the outset. Not sure what your business goals should look like? Begin by asking the 5 W's:

• Who will your business cater to?
• What will you offer? What will distinguish you in the marketplace?
• Where will you sell your products or services? In a brick and mortar business, via your own website, or through existing channels like Etsy
• When would you launch your business? When could you expect to break even? Make a profit?
• Why do you want to be in this business? 

 Start with simple answers to the above questions and then go deeper. Gradually a picture of your ideal business structure and your ideal customer will begin to emerge. Now it's time to get into the Hows of your business. By asking how you will execute on your answers to the above questions, you will establish your goals in the areas of time commitment, lifestyle, financial investment and the scale of your operation. Once you've answered the 5 W's and Hows of your business, you can make an informed assessment of your personal readiness and of the viability of your proposed venture. You can also begin putting in a place a series of metrics to help you measure your progress and achievement in each of your goal areas. Though the process of getting clear on your goals is a time-consuming and often daunting process, it is crucially important. Building a business will most likely take more time, more resources and more money than you would initially anticipate, so it's important to be thorough and honest when setting your goals and realistic when estimating the time and resources your venture will require. Your clarity in goals and commitment to the values behind them will be the force behind your business, and will help you to keep on when the going gets tough. 2. Learn Everything You CanDespite the difficulties this endeavor can hold, there are many people who have pioneered the way to building and launching a successful business. It is important to talk to as many experienced entrepreneurs as possible and to learn everything you can about your prospective industry.  Talk to potential consumers of the kinds of products and services you will be offering. Join entrepreneurial communities. Read books by successful entrepreneurs and blogs geared toward mompreneurs. Knowledge is power. You will find many people who will be more than happy to give you some great advice and even lend you a helping hand. Making mistakes when first starting out is inevitable, but learning from the wisdom and experience of others can save you time, money and effort. 3. Get Lots of Help and SupportWhen you begin building a business you will need as much help as possible. Surround yourself with as many family, friends and peers as you can. This is not the time to show off your independence and turn down any help. This is the time to take everyone up on their generous offers and even resort to asking for help when you need it. When I started my business, it was pretty much a friends and family affair. My neighbor was my manufacturer; my best friend's husband was my attorney who helped with the legal stuff. The list goes on and on. Using the resources around you will give you a support system and make your path easier. 4. Find Your StrengthsWhen I began building a business, my first goal was to create products to help safeguard children and a website that would serve as a destination for parents looking to learn about their child's health concerns in a way that was genuine, engaging and felt safe. I had never designed product or created cartoon characters before, but I just took my time and used my imagination. I literally took a pencil and paper and then went about looking for a graphic designer to help me make renderings. I have always been a very creative person and it was a resource that I was happy to tap into and continue to use every single day. In the process of building your business you may discover strengths that you didn't know you had.  Further cultivate your newly discovered strengths by getting bold, going outside your comfort zone and putting your strengths to work in your business. Don't hold back because of lack of experience or fear of failure. Learn by doing. Teach others where you can. And be sure to give yourself the mental space and time that creative endeavors require.  Everyone begins in the same place, building their business from the ground up. My business has come so far from where I began. In October of 2015 we are launching a new website that will be a whole new level of wonderfulness! As you get started with your own business, remember that there will always be bumps in the road but with perseverance you will prevail.

Let's hear from you. What do you find essential in the process of building a business? Tell us in the comments!