If you had one day to take control of your financial future, what would you do? Winning the lottery is probably out of the question, but all it takes is eight hours and a smart decision to start yourself down the path of entrepreneurship. Don’t believe us? Here’s a guide that walks you through it hour by hour.
7:00AM – 7:30 AM Wake Up. Stretch. Coffee.
Getting out of bed is the hardest part of any day. But, starting off with a good stretch and a cup of coffee is a great way to get your mind right so what you can get down to the nitty-gritty. This will also give you time to reflect on the type of business that you’d like to start and how not to
overspend at startup.
7:30 to 8:30 AM Draft a Basic Business Plan
The Small Business Development Center at Duquesne University explains that a business plan is an important tool for entrepreneurs. This is a document that helps you outline the steps you need to be successful. Among the many reasons to write a business plan include being more attractive to potential investors and sussing out any weaknesses. Perhaps most importantly, your business plan can help you make better decisions. For more information on how to write a business plan, check out this article by WeWork contributor Caitlin Bishop.
8:30 to 9:30 AM Establish Business Structure
Your business structure will help legitimize your business. There are a few different options to explore, such as LLCs and sole proprietorships, so do your research before jumping in. You’ll need to select one that best suits your business. Make sure to pay close attention to state regulations before submitting your paperwork. If you’re concerned about doing all of this paperwork on your own, team up with a formation service to help ensure everything’s filed in accordance to local regulations.
9:30 to 10:00 AM Breakfast
No matter how excited you get to start your business journey, you have to fuel your mind and body first. Now that you’ve finished your coffee and gotten a few important tasks out of the way, have a healthy breakfast, hop in the shower, and get ready to head to the bank.
10:30 AM to 12:00 PM Open a Bank Account, Determine Your Assets
Now it’s time to handle money matters. Head down to your financial institute of choice and open up a dedicated business account. According to Fortune Builders, this is important for tax purposes and is a great way to get started building business credit. This is also a great time to
put your seed money into the account so that you know exactly what you have in assets to dedicate to your business. So, how much does it cost to launch a business? Anywhere from $2,000 to $5,000 for a home-based franchise up to more than six figures for a small business
with three employees.
12:00 to 2:00 PM Lunch, Stretch, Browse Freelance Help
Like breakfast, a healthy lunch is an essential component to your success. But, don’t let your lunch hour go to waste. Plan to pull double duty by eating, looking at help, and, if you find someone looks promising, sending emails or conducting phone interviews. Consider starting with a freelancer, who will already be an expert in their field and will cost less than a full-time employee to start. Lastly, don’t forget to take a moment to stretch and step away for a moment. Setting up a small space in your home for relaxation can help you quickly refocus and refresh
your mind for the rest of the workday.
2:00 to 3:00 PM Create a Marketing Plan
If the thought of selling yourself is intimidating, it’s time to find the courage to put yourself out there. As an entrepreneur, you have to have the confidence to market yourself as an expert so that you get the best customers. You don’t have to start big, and social media is a smart first choice. You can also look for inexpensive or free tools that help you create a logo and business cards. To create a customized business card, look for a business card template online and add your own images, font, colors, and text.
Starting a business doesn’t have to consume your entire life for months at a time. You can get yourself up and running in a single business day by following the above advice. Tomorrow, get ready to dominate your industry and take your next steps down the path toward success and
financial independence.
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