You’ve got an idea. Now what?
Look, we get it. Branching out to start your own business seems scary. Good thing that part is only in your head. You can DO this. We here at REV are rooting for you. Why? Because we believe small businesses are the fabric of a vibrant community. REV’s Business Growth team offers workshops, coaching and resources for passionate people to more easily start and grow their entrepreneurial dreams. One of those resources is a helpful, 20-step checklist to assist you with making your idea a reality. Check out a few of our tips:
Identify your WHY
Consider why you’re starting this business and how your customers will feel about your product. The keyword here is “feel.” People don’t buy what you do, they buy why you do it. Your personal why is an important piece of building a worthy product, a company and a brand.
Solidify your company’s core values.
What do you value and how will your company be a reflection of that? Think about how you’ll build trust with your customers. People buy from companies that share their values and beliefs. Write them down and let them guide you along the way. This will be your north star as you navigate the often treacherous path of entrepreneurs. When you find yourself at a fork in the road, reflect on your core values and then decide.
Draft your message, starting with WHY.
Your brand story should start with why. What do you believe and how does your product or service reflect that? What are you selling and how are you selling it? Practice your pitch until it feels super comfortable and then be prepared to test it during the early stages of your business to see what resonates with your customers.
Determine your Minimum Viable Product.
Your vision may be huge, but everyone has to start somewhere. Determine the simplest product requiring the least investment and create a plan for getting to your first sale to begin gaining customer feedback quickly.
Start with the numbers.
Draft a startup budget to clearly see what it will take to get your small business dream off the ground. Consider your startup expenses first and where you’ll find the resources to get started.
These are just a few tips that our team compiled to get you on track. Want the whole list? Click the button below for access to the rest:
Let’s be honest, Birmingham has a lot of cool shops. So much so that choosing an item on first visit might be a bit overwhelming. That’s why REV ask several small business owners about their top-selling items and what they like about them. Here’s what they had to say:
Black Business Fridays: 3 businesses in the 4th Ave business district to support during The Great Receipt Race
Every Friday in August, REV and Urban Impact Inc. will highlight a few of these businesses in honor of National Black Business Month as a part of Black Business Friday.
Celebrate Black Business Month by supporting Black entrepreneurs' contribution to Birmingham's vibrancy
By Elijah Davis Strategic Growth Manager Urban Impact Birmingham