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Planning Your Startup Company, Part One

Planning Your Startup CompanyIf you are in the early stages of planning your startup company, you have probably started to look at what things you need to do to make your dream a reality. Maybe you have started to hear worrisome stats and facts about the chances of success. So what happens when you start searching for the proverbial “key to success”? You get an endless list of books or videos that are supposedly full of “secret knowledge” that only they have, and are happy to sell you. So, if the key to success is such a secret, why are there so many successful businesses? And if success could be purchased in the form of a book, why isn’t everyone buying that one special book?

The not so secret “secret”

Well, here’s the secret. It’s not something you can buy. According to Bloomberg about 71 percent of businesses that fail are owned by first time owners. The remaining 29 percent go on to try again, and have more success every time they try. They also point out that the more business an owner has at once, the more likely they are to continue to succeed. The logic here is that a business owner who learns something at Business A can apply it to Business B, keeping Business B from failing.

So how does you overcome these hurdles while planning your startup? It’s not like you can go back in time and open another business. So until they start opening DeLorean dealerships, the next best option is to look for a partner that has previous business ownership experience. This means finding someone who knows their way through the business landscape, who knows where the line is between dream and reality. These individuals can be the difference between early success or costly mistakes.

The other option

Choosing a business partner can be tough. You may not know anyone you trust with the right kind of experience. Business partners are a special kind of relationship, and can affect the rest of your life, or the life of the business. If you can’t find the right type of business partner, another option to consider is a Professional Consultant.

Consultants are a great compromise. They allow you to invest in your business by adding a temporary increase in your most valuable asset, experience. They also have the perk of being temporary. Once you solve the problem at hand, you can go your separate ways. The ultimate business partnership.

Help planning your startup is close at hand

Like pouring a cement foundation, how you start your business is critical. If you are considering consulting services to help you start your new company, visit our services page and get in touch. Answers to your questions are free, and will be the fastest way to find out what option is best for you.

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