5 Tips for Starting a Business
Jan. 11, 2022
If you are a parent with a disability, you may be thinking about starting your own business as a way to provide for your family. This can be a great idea if you approach it thoughtfully and take advantage of all the opportunities available to you. The following five tips will help you to get your business up and running.
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1. Create a Business Plan
The first step you should take toward building your business is to create a business plan. This is a good way to think through all the aspects of running your business. For example, it may help you to narrow down your value proposition to customers or come up with some creative marketing plans.
This is also a great time to think about how your business will fit into your life. One of the most popular reasons to start a business is to have flexibility with your hours, meaning you get more quality time with your family. Another great reason is to work from somewhere that can accommodate your disability easily (potentially your own home).
2. Form Your Business Entity
Next, you will want to think about forming your business entity. Creating a limited liability company is often one of the best ways to set your business up for success. It can protect you from financial and legal liability if your business runs into some difficult times.
Keep in mind that registering your DBA (“doing business as”) name can also be a great idea. A DBA allows you to conduct business under a name that is different from your official company name. It is a great way to operate with one name but market your business under a different one. This can be useful for branching out to new products or taking advantage of a marketing opportunity such as a specific domain name.
3. Explore Funding Options
Getting the right capital for your business is essential. There are a lot of great options, including SBA loans, small business loans from banks, investments from friends and family, and more. In particular, you should explore special programs offered to entrepreneurs with disabilities. This includes grants offered by the government (including local, state and federal). These do not need to be repaid and can be very valuable if you qualify.
4. Seek Out Government Resources
Make sure to check out some of the special resources offered to business owners with disabilities. As mentioned, this can include financing. However, there are many other resources as well. This includes informational resources, mentoring, networks, special tax help and more. Building a business is challenging; take advantage of all the programs and assistance available to you.
5. Market and Grow Your Business
Finally, you will be ready to start marketing and growing your business. With some hard work and creativity, you can start bringing in customers and making your dream work. You may want to think about hiring some employees, agencies, or freelancers to help you build your business. For example, you can give your social media marketing a boost by working with Facebook marketing experts. You can find Facebook marketing agencies through online job platforms where you can choose whom to work with based on experience, reviews, and cost. Being a business owner is hard work, but it can really pay off as you build a better life for yourself and your family.
Explore your opportunities as a business founder today. This can be a great career path for a parent with a disability. However, you will need to take advantage of all the opportunities available to you to ensure your success.
This article was written by Ed Carter who can be reached at firstname.lastname@example.org