30Dec
photo of 2011 text

Want To Start A Business Before 2011 Is Over?

photo of 2011 text

2011 will be over before you know it. The Summer has come and gone and it’s time to start looking at your year before it is over (I am not a fan of New Year’s resolutions). Why not resolve in advance of the year-end to start that business you’ve been thinking about for years?

Keep It Simple

It seems daunting at first (and, actually, it can be), but you can get your business off the ground before 2011 is over. Here are some simple steps you can take right away:

  1. Register a legal entity, domain name, Twitter handle, Facebook page and email accounts (using your domain).
  2. Identify your potential/existing customers and the time and money it’ll take to gain more. Who are they? Where are they? Do they need what you are selling? What pains do they have? What problems would they like you to solve? What are they willing to pay for? Don’t be scared, ask them to buy something from you.
  3. If you really want to fire things up, read this awesome post from Ash Maurya titled How To Vet New Product Ideas and Save Time, Effort and Money.
  4. Make a time commitment to build your business, whether it’s nights and weekends or weekdays, or all of the above. It’s a cheesy old quote but it’s true – if you fail to plan, you plan to fail.

For those still talking about a business idea, still thinking about the website and still searching for customers, then you are not a business. You are definitely not IN business. So start today.

Action is what separates the entrepreneurs from the “want-trepreneurs.” Economic factors will never be perfect. There is no such thing as the ideal time to start anything in life. You can never be certain when the “right” time will be. For the most part, it’s fairly cheap and easy to start a business right now. Anything related to the Internet can be done much more quickly and easily than even a few years ago. And it continues to get quicker and cheaper. Do you really want to start and own a business? Entrepreneurship favors those IN MOTION so…

DO IT.

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About Alex Lawrence

Alex has been a successful entrepreneur for 20+ years. His current venture Lendio ranks #34 on the Inc. 500 list. Alex earned a BS degree at the University of Utah and his MBA at Weber State University, where he is Vice Provost and Director of the Entrepreneurship Program. If you want to talk with Alex about business and entrepreneurship (or other questions), email him (alex AT startupflavor DOT com), or you can find him on Twitter @_AlexLawrence.
  • In 2011 my resolution is to start MY own business.

    • Alex Lawrence

      DO IT!

  • Chris Homer

    Alex, your 2011 blog looks great … here’s to a great good year and continued success! ~Chris

    • Alex Lawrence

      Thanks Chris! Same to you as well.

  • Alex:

    Would you consider at least a fourth point? “Take stock of your strengths/weakness for starting a business.”

    It’s the thinking part you mention. Having a great idea with market opportunity isn’t enough if you’re still stuck in “get rich quick” land mentally.

    • Alex Lawrence

      Hey Dave. Of course I would! This was just some stuff off the top of my head. Agreed on yours, I like it – and it is true!

  • Great post! I been putting off this one idea for a business for a while. I keep saying “I need a team I need a team” because it requires a lot of programming. My 2011 Resolution is to be pro-active and just do things; not talk about them!

    I hope to eventually get a team for this idea, but for now going to learn everything about the industry on it and by end of 2011 have an actual business!

    • Alex Lawrence

      Thanks Ravi. Yeah, build the business slowly and small at first – the team (with small successes) will come later. Keep us posted so we can check it out in 2011, okay? Stay connected!

  • Great tips and ideas…We’ll definitely use this to pass along to our customers who are forming new corporations & LLCs…Great ideas to keep it simple.

    • Alex Lawrence

      Hi Debora – thanks for visiting and commenting. Hope your SEO juice worked 😉

  • I’ve already done the first 3 steps, i like the want-trepreneurs statement as well, it is very true

  • “An ounce of action is worth a pound of theory”

  • Alex, you said it! It’s all about taking action. Taking action is the real key to gaining momentum in anything you do. Even if it’s baby steps initially, start doing something today to start moving your life in the direction you ultimately want it to go.

    • Alex Lawrence

      Nathan – exactly. What are you doing to make it happen?

  • Joseph Patrick Bulko, MBA

    My resolution is to save the American economy. Here’s how:

    I’ve written a proposal that uses entrepreneurship on a massive scale to tackle the ongoing high unemployment problem, which has left millions and millions of Americans grasping at the last vestiges of the American Dream. Long-term unemployment is at record levels and the pace of the tepid “recovery” from the Great Recession will require years to return the country to full employment. In the mean time, government coffers are depleted while straining to address the extreme hardship, and tax revenues are greatly diminished because so many jobless folks cannot pay taxes.

    My proposal describes an entrepreneurial mechanism through which we can fund a massive number of new business ventures (to create a massive number of new jobs) by tapping the financial power of Wall Street. It is a private-sector proactive approach to remedy the high unemployment problem. Titled “A Modest Proposal to Save the American Economy: Entrepreneurial Blitzkrieg as Job Creation Vehicle,” the proposal has been published online at Salem-News.com (and various other places):

    http://salem-news.com/articles/march232011/solving-unemployment-jpb.php

  • The fastest way is to look for someone who has a virtual business they are not utilizing or maximizing.   You can step right in for a percentage of ownership based on growth.   You will find several at kctruby.com

  • Alekzander Wilde

    Here is my problem.

    I am trying to start an event production company in which college students studying fashion design will be able to compete for a chance at an internship with a design firm. I have found everything I need to start the business, but I have no capital to work with. I have searched for Venture Capital firms, and have even tried to sign up to websites so I can search 2,000 VC firms, but they require money as well. So I have no clue how to find capital to get my business off the ground. What can I do to fine the capital I need get everything off the ground? 

    • alex_lawrence

      Why can’t you build something small/simple and test it with a small group of students/firms to see if it works first? That really shouldn’t require much money, and if it works, will make it easier to either a) not need to raise money, use cashflow or b) show traction that might make you more attractive to investors.

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