5 New Year’s Resolutions for the Future Entrepreneur

Posted On:

The beginning of a new year brings about many activities but one of those is New Year’s resolutions. In America and all over the world there are people who dream of owning their own business but they  either don’t have their homework done or haven’t stepped out of their comfort zone to try it. In light of this, here are five New Year’s resolutions for the entrepreneur-to-be:

Finish (or start) Your Business Plan

Not sure where to begin? Take your great idea and transform it in to an actionable business plan. Business plans often follow a traditional format so first do some research on how to construct it. Then, take some time to complete your plan.

When you look for investment dollars or a loan, your business plan will be the first thing you show them. A well-constructed business plan also reveals any areas of weakness in your idea. These are the areas that investors and customers would notice so you’ll have to further refine these weaknesses before proceeding. If you see a weakness in your business idea so will others.

Make Contacts

Although your idea may be unique, there are people just like you that are future entrepreneurs or currently run their own business. These people can help you move forward with your ideas, recommend resources to assist you or just encourage you. Don’t think because your idea is unique, there aren’t others who can relate to you.

You’ll have more success if you make contacts so even if you’re not ready to start your business just yet, meet people, join an internet group, a community entrepreneur forum or any other group that will help you move forward.

Make a Name for Yourself

Does your business have a name yet? If not, make this one of your resolutions. There are a multitude of articles about how to name your business but make it something that invokes curiosity yet still gives the consumer an idea of what you do. At the same time you can also register your name with your state’s secretary of state office.

Find a Domain

Nearly every business has a website. Use your business name and purchase a domain name for yourself. Just about any webhosting company will allow you to purchase a domain (www.yourname.com) and it shouldn’t be any more than $10. Even if your business is another couple of years from opening its doors, finding your domain name now allows you to change your name if a website address isn’t available to match.

Get off the Couch!

It’s easy to hide behind real life. Many people who want to have a business of their own still work for somebody else because they have real life reasons not to do it. Reasons like, “I don’t have time” or “I can’t take a pay cut for even a short amount of time” or “I’m too old”. Of course some of these reasons may have some validity and nobody will say to give up your real world responsibilities but the best entrepreneurs find creative ways to problem solve and this may be your first true test.

Start your new business while you still have your other job. Work on your idea during lunch breaks or at work when things are slow. Finally, as C.S. Lewis said, “You are never too old to set another goal or to dream a new dream.”

Don’t watch another New Year’s ball drop without jumpstarting your dream. This is your year!