Starting a Business is Like Having a Baby

We've all heard that becoming a parent is one of the hardest and most rewarding things in life. First comes the pregnancy with its aches and pains, sickness, cravings and all. Then comes the preparation for baby's arrival - getting a baby registry, lamaze classes - all the fun stuff. Oh, and of course, the scariest part - labor and delivery which can last for hours and hours. Then the real work begins - being a parent! The same goes for becoming a business owner.

Nesting (aka. Deciding on a Business Venture)
Just like your urge to clean every room in the house, clean out the clutter in your mind. Take some time to think about what you really enjoy doing. Is there a market for your products or services? How will you be different from all the others? Is this something you can see yourself doing for the rest of your life?

Baby Registry (aka. Set-up Your Business)
Check with your state's website and start setting up your business. Decide on what type of business structure you need - Sole Proprietorship, LLC, Corporation, Partnership, etc . . . Most of you will probably become sole proprietors, which is the easiest and cheapest business structure to set up. But be careful - if you are offering products or services where the end user can sue you or come after you for damages, your personal assets may be affected.

Become a real business - get a website, join social networking sites, set up email. All this can be done for zero to little investment. Check out http://www.vistaprint.com/ or http://www.intuit.com/. Both sites offer website building and hosting at very reasonable rates. Vista Print also offers business cards, brochures, car and window decals - everything you need to make you stand out from the crowd.

Most importantly, set up a separate bank account and credit card for your business. It's too easy to co-mingle personal and business accounts if they are with the same bank, so I would suggest opening up an account at a completely different bank. Same goes for the credit card. It should only be used for business purposes.

Baby's Room (aka. Set-up Your Home Office)
Set aside a room in your home for your home office. This desginated area should not also function as a play room or guest room. You need this separation for tax purposes. And your sanity.

More importantly, make sure you have the proper office equipment to do your business. Computer and Internet, business phone or business cell phone, printer/copier/fax machine. You will need enough storage for your files.

If you're building or making products, make sure you have a designated work space in your home or garage just for your business. Get the tools and supplies you need that will make you a success!

And remember, use your business credit card for all business-related purchases!

Party (aka. Network)
Once your business is all set up, start networking. Join a chamber of commerce close to you. Annual membership usually runs a few hundred dollars. If you're strapped for cash, most chambers allow 2 free visits at networking events before they require you to join. Call around and take advantage of any free networking events.

Smaller networking groups can also be found in local areas, usually charging $5 - $25 per meeting.

LinkedIn is a free professional networking site that you may want to look into. Invite former colleagues, college classmates, friends, whomever you can think of that may be able to spread your good name.

Join industry groups to sharpen your skills and network among your industry peers! You'll remain at the top of your game and become more valuable to your clients.

Tell your friends and family about your new business or throw yourself a kick-off party!
Who knows where your next lead will come from!

Labor and Delivery (aka. Actually Working)
Oftentimes, once a new business owner has put in all the hard work to setting up his/her business, all the glitz and glamour seem to fade away. This isn't the time to take a break. Get yourself into a routine and make sure you are putting the effort and time into making your business work. It can be a few hours a day or even 80 hours a week. You decide what you want to handle. It won't always be fun, but it'll be worth it.

Parenthood (aka. Business Development)
Becoming a business owner is a labor of love! It will grow and flourish if you continue to give it the love and attention it needs!

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If you're thinking about starting a small business or already have a business and need marketing services, visit www.adamsnadamsmarketing.com.