Successfully Launching a New Business

Have your dreams to launch a new business or project fallen flat? Have you lost the original idea you started with? What obstacles have you encountered? Time management? Access to capital? Industry connections?
Here are a few simple strategies: Create a simple "Things To Do" list. Be willing to start small. Smaller successes lead to larger successes. Spend five to ten minutes prioritizing what is most important. Add a check box in front of each item. When each item is completed, change the check box to a check mark. If you get stuck or bogged down on a certain task, move to the next one. Checking items off can be a real motivator. Doing this day after day like a running checklist allows you to see progress. You can also refer back to something if you have a question.

Capital can be raised in many ways. Most ways we prefer to use capital does not involve banks. Get creative. Lastly, if you can partner with a private investor for small recurring loans you're making progress. The best solution is not to use debt financing. One goal of financial sustainability is solvency. Another is to become the banker. Instead of begging hat in hand, become a resource to others and earn a tidy profit in the process.

Industry connections are key. Here are some ways to get connected. 1. Attend business forums and workshops. 2. Find a free business adviser. 3. Be willing to consider the advisers advice. 4. Set up a simple pre-project timeline. A pre-project timeline includes but is not limited to conducting research, defining membership, and coming up with a company image. 5. Surround yourself with people who are experts in their field. An example is running ideas past a CPA to make sure you understand the tax implications.
6. Share what you have learned with others. Evaluate and improve each step. Integrate new learning.

Turning Moments To Momentum

"What are you working on"? Then comes the explanation. Our creative coach is the gifted writer. She is just finishing her time travel novel. My writing is more on the business side of things-more in the realm of grants, consulting or framing in a business continuity plan.
 
"You write grants? I just started a nonprofit. Do you know a good nonprofit accountant?

In five minutes I learned this nonprofit organizer did some things right. First, she applied for space in an environment with natural project and support partners. Second, she has gone to great lengths to put together an excellent nonprofit board. Third, the Board is working on a five year strategic plan. Last, they are networking, listening and acting on helpful information that fits with their mission and vision.

In a few short moments we discussed the importance of a visual plan, strategies to find potential grant funding, and three methods of assigning a dollar value to communicate the value of volunteer time.  Quickly five websites were offered to demonstrate important aspects of communication. They do an excellent job of communicating plans visually, and demonstrate the benefits of transparent finances and accountability. I was able to point her to an organization that conveys the dollar value of volunteer time in very simple terms. My advice was "count everything". Statistics can be a very effective way to help tell your story.