As we bring the first half of 2020 to a close, are you thinking more about starting your own business?

If so, I don’t blame you.

Typically, we would begin the discuss of what you’ve accomplished so far this year.

• Which goals have you crushed?
• Which goals have you redefined?
• Where did you decide to walk away?
• Where did you decide to step up?
• How will you make the rest of the year shine?

For many of us, however, we had to throw out the playbook we created six months ago. The current events have asked us to slow down, reevaluate where we’re headed, and make some tough decisions.

When I started my business in 2001 after being laid off, I did it a month before 9/11 and the following recession. I managed to stay afloat, even in 2008 and the subsequent economic downturn. Many businesses are born from challenging events that force us to see things differently.

If you have found, through this tough year, that you might like to strike out on your own, here are five articles on how to start a business, how to build a start-up, and how to build revenue online.

1. 10-steps to start a small business.

There are plenty of articles out there on the x-step process for starting a business. Here are three from Forbes, The Balance, and Entrepreneur. The most important part in each of these articles is to make sure you can fill a need. If you have a talent and others seek you out for help in that area, that’s a good place to start. Know your solution and know your audience. If you have that nailed down, you can fill in the rest.

2. Three must-have traits to start a business.

Like the article says — it no longer matters who has the most experience; what matters is who can gain the knowledge the fastest. There’s no question that those who position themselves as authorities in their given field will come across as knowledgeable, trustworthy, and competent. Become eager to learn, maintain humility, and leverage your resourcefulness.

3. Your startup should be a camel, not a unicorn.

Entrepreneurship, creating a tech start-up, and seeking venture capital may sound exciting to you, and there is no shortage of VC funds eager to finance an innovative idea that disrupts the marketplace. If that’s your game, this article from Entrepreneur discusses why creating a start-up as a camel has a better chance at success, sustainability, and longevity.

4. Trending online business ideas to start this year.

Online businesses are gaining ground, especially in light of quarantines and WFH policies this year. If you’d like to experiment with creating passive income streams, take a look at these articles from digital.com, The Balance, and Business News Daily. Even if some of these ideas are a little far out, this should give you an idea of what’s possible, especially in the online space.

5. An entrepreneur’s start up guide.

No business guide would be complete without a template for a startup business plan. This template from Hubspot is simple, well organized, and easy to understand. I would argue that a full business plan may not be a great use of your time at the very beginning. Going through the process of completing all or part of a business plan, however, allows you to organize your thoughts and get a clear understanding of your business idea and its chances for success.

As I mentioned, the most important part of starting a business, or going out on your own, is making sure that there is a need and that you can fill that need. From there, you can start pulling in clients through referrals, online optimization, and content that positions you as an authority in your field.

 

 

Christina Holloway is an executive coach and business coach. She helps executives and entrepreneurs grow their companies faster, create results-driven teams, and increase profitability. She has been featured in Forbes, The Huffington Post, Addicted2Success and Fast Company. If you’re interested in working with Christina, take a look at her strategy sessions and contact her to get started.