Because they're established, this mentor will
most likely have a long-term, trusted relationship with their lawyer
and accountant. So that's who you should use, too. Because if your
mentor does a lot of work with these professionals, they'll likely put
more effort into getting your paperwork taken care of quickly because
they want to make their established client happy. They may also offer
you a discounted rate.
Have your business plan drawn up for free by submitting your business to an MBA class.
Most MBA students are required to take a class on devising complete
business plans. If your business idea is well organized and creative,
you could score a pretty snazzy A-list plan at no charge! Plus you'll
be able to see your company from the perspective of numerous objective
eyes. This will give you insight into any loopholes you may have
overlooked when drafting your original plan. Pinpointing these errors
early could save you money in the long run and will also help you be
better prepared and organized for the future.
Barter strengths with other business owners.
Start networking with other small-business owners by joining your
city's chamber of commerce or other local business group. At the
networking events, don't by shy-ask questions. What are the needs these
other businesses have? How are they struggling with different aspects
of running and growing their companies? Pinpoint the areas in which
they need help and creatively offer those services of yours that can
enhance their business. In exchange, propose that they provide you with
help in their area of expertise in the areas where you need help.
Small-business owners love to barter: Hiring outside consultants can be
pricey, but objective suggestions on improving your business are
priceless.
Get low- or no-cost advice from a university-affiliated Small Business Development Center (SBDC).
These centers, which are sponsored by the U.S. Small Business
Administration and scattered throughout the country, offer free advice
and free-to-very-cheap workshops to new companies. They provide
resources and information regarding every aspect of business. More
often than not, entrepreneurs are creative people with great products
but are lacking in some of the other, "not so exciting" areas of
business. Services at these centers include such things as one-day
seminars on getting started, free one-on-one counseling, legal clinics, online resources and downloadable forms. You can log on to the SBDC's Web siteto find the small-business center nearest you.
Hire a virtual secretary.
Most small-business owners are so busy multitasking their primary
responsibilities that keeping on top the small stuff-like answering the
phone-can be a challenge. So most new business owners set up voicemail
boxes to answer their calls. But this can result in a major loss in
business: In a world full of new technology, customers appreciate
personal attention. Impatient and demanding, they want to hear a human
voice on the other end of the line, someone who can answer their
questions or take their order immediately. And remember, if you don't
answer, someone else will.
Hiring a virtual secretary provides
the illusion of a professional office atmosphere, even if you're just
working out of your den. Virtual secretaries can do anything from
setting up appointments and taking messages to answering FAQ's and even
answering your calls 24 hours a day, seven days a week. Hiring a
virtual secretary could cost you as little as $40 a month to start, a
small price to pay for excellent customer service.
Hire college interns to help with the small tasks.
When you're just starting out, it's critical that you focus on the
things that will bring in the business-developing your marketing
strategies, perfecting your sales skills, performing the work your
customers expect from you. But if you're going to find success, you
won't have time to do it all. So don't. Interns can help out by running
errands, making copies or helping with mailings. They can also be
trained to answer customers' initial questions about your product or service or
can handle PR duties or Web design-it will depend on the expertise of
the students you hire. By hiring smart, you can carve out the time you
need to deal with bigger and better things.
Give the illusion of having more than one location by renting office space on an hourly basis.
Why pay monthly rent for office space when you're just starting out?
Instead, employ a "pay as you use" approach. Do most of your work out
of your home office, and then when meeting prospective business
associates or clients, rent space by the hour. Try to find a business
center company that has numerous office locations under one corporate
umbrella. One example of such a company is ExecuTec Suites.Having
the option to work out of various locations will be more impressive to
your clients and will look great on your marketing materials. Oh, and
yes, you'll save money, too.
Enlist the help of your support network.
When you start a business, it's imperative to enlist the help and
support of people you trust. It's easy for entrepreneurs to get into
the mindset of "If I need to get something right, I have to do it
myself." While this may be the case, spreading yourself too thin keeps
you from building your business properly. In addition, as your business
grows, you won't have time to be the janitor, the accountant, the
secretary and the CEO!
No one knows you better than your
family, close friends and partners. Trust that they know your strengths
and weaknesses, and allow them to help you out by offering
complementary assistance. Doing this early on will help you learn to
trust that other people can get the job done and will give you practice
in the art of management and delegation. Those who believe in you will
want to see you succeed, so determine their strengths, get them excited
about your vision and ask them to help you out.
Marisa Liza Pell is the founder of Knowledge For Living Inc.,
a consulting company that offers a combination of success coaching,
intuitive advising and motivational seminars to clients. Marisa
believes in making the most out of life through creative passion, which
is the driving force behind her work.