Are You Minding Your Business?
When starting a business, there are so many details that cannot or should not be overlooked. We understand the desire to get your brand exposure and have customers running towards you. But before you put the horse before the cart, as my mother would say, take the time to cover your basics and build a strong foundation for your business.
What are the basics?
· Open a business bank account, many business owners make the mistake of using their own funds or personal accounts to make business transactions. It’s important to establish a separate paper trail and keep records of all business transactions (business lunch meetings, mileage, product cost, etc.)
· Find a bookkeeper (or an app) that will allow you to track your spending, I recommend QuickBooks.
· Retain an Intellectual Property attorney that can assist you with obtaining a trademark for your business. Protecting your business is sooo important. You don’t want anyone to steal your name or idea, trust me!
· Secure your domain name for your website (if you haven’t done this yet, STOP what you’re doing and do it right now!!) and create a professional business email address using your domain name with sites like, Godaddy.com, rather than using a Gmail account (nothing wrong with it). Not owning a domain name for your business can result in you having to pay someone. (Speaking from experience, I didn’t buy one of my domain names right away, and when I did a search it was unavailable and was for sale for $2,500! Thankfully, a couple of months later I checked back, and it was finally available. However, this is not always the case)
· Secure your name on ALL social media handles, if you haven’t done this please do so! You don’t want to have to add numbers to your username i.e., @nzuribodyessentials01
Understanding that all of this can and will be a little costly, BUT it is vital. So perhaps before actually putting yourself out there, begin to put money aside to handle all of the basics.
Do your research!
This cannot be stressed enough! This includes anyone that you decide to collaborate with or hire. There are people out there that will sell you a pipe dream, and their motives are not to benefit you, do a little “background check” before you decide to move forward! This can include (but not limited to) google their name, business, look them up on all social media handles like LinkedInand Facebook. Take the time to read any literature or articles about them. Ask for references, if they are not willing to provide that information, that is a sign that you just might not want to proceed.
Become an expert.
You want to educate yourself in the field of your business as much as possible. Even if you already consider yourself as an “expert”, it is still imperative to continue to nurture your business by continuing your education. Whatever products you plan to sell or service you provide, educate yourself. This goes beyond website searches. Invest in yourself and your business by taking a course. Whether that means register for school and take classes within your industry. Take online courses from platforms like Udemy.com which offers amazing courses (some for free) from various industries like; Fashion, Photography, IT & Software, Business, and Marketing just to name a few, all from the comforts of your home or on the go, which are downloadable.
Mind your circle.
Surround yourself with people that are successful and willing to encourage you. (That period is there for a reason)! Once you start your business, people that you were sure would support, will not, but your passion should override your fear! If you cannot find support and encouragement in your circle, change your circle!
· Find a mentor
· Start an accountability group, set goals and achieve them together! However, hold each other accountable and encourage one another to keep going when they slack.
· Join Facebook groups with like-minded individuals who are walking or have walked the same journey. Start to follow people who are within the same industry on social media.
· Great business and lasting relationships can come from attending different networking events that can be found on Eventbrite.com.
There are certain building blocks that you’ll need to include when creating a strong foundation, so your business won’t crumble. If you were able to check all of these off your list as complete, then keep doing you sis! But to those that weren’t able to do so, are you minding your business??