Start Your Own Small Business | Counter Culture

Top Five Reasons to Start Your Own Business

  • Employment growth is much higher among jobs that require average or above average social skills such as interpersonal, management and communication skills, and those that need higher levels of analytical skills such as critical thinking and computer skills.
  • The majority of American workers say they will need continuous training to keep up with changes in the workplace and about 35% say they do not currently have the education and training they need to get ahead.
  • Most Americans think the responsibility for making sure the workforce has the right skills and education to be successful in today’s economy lies with individuals themselves.
  • Employment opportunities that require more training and more education are on the rise.
  • Americans say job security is on the decline.

How Do I Know if Starting a Business is Right for Me?

How to Get Started

  1. Choose your industry. When choosing a product or service to offer, ask yourself five questions: What am I knowledgeable about? What am I passionate about? What are my skills? What need can I fulfill? Who will be my customers? Your answers will give you an idea of what your startup should offer.
  2. Create your business plan. This can be as elaborate or as simple as you like, but it needs to identify your business name, product, target market, competition, marketing plan, and operational considerations. This is your blueprint for success, so spend sufficient time on it. There are many free business plan templates and generators available online to get you started.
  3. Set goals. This is also an excellent time to write down your future goals. The timeline is up to you, but you should include both short and long-term goals. Remember, your goals are meant to evolve, so don’t get hung up on making them perfect. Instead, make sure they reflect realistic expectations.
  4. File your paperwork. Some industries require licenses or permits that you will need to apply for. Check your state’s applicable laws and decide which legal business structure (LLC, corporation, sole proprietorship, etc.) is appropriate for your situation, then fill out and send in your application along with any required fees. If you aren’t comfortable handling this yourself, you can contact a law firm for assistance, or you can use one of the many resources available online.
  5. Gather your resources. Make a list of everything your business will need and get what you don’t already have. This can include office space and furniture, a desktop computer or laptop, software, phone, tools, materials, or anything else your new company requires.
  6. Start marketing before you launch. Build the anticipation of your grand opening by communicating with your target market early. Let people know the problem your company will solve and how you stand out from the competition. If you’re comfortable on social media, this is where many entrepreneurs get started.
  7. Set up your bookkeeping. Whether you plan on handling your records yourself or hiring an accountant, establish your bookkeeping system before you launch. This will make filing your taxes easier and help protect you in the event of an audit.

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