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    • Do You Have What You Need to be a Great Entrepreneur?
    • Tips for Building A Successful Small Business From Home
  • Home
    • About >
      • Contact
  • Sunday Comforts
  • Recipes
    • Sunday Supper
    • APPETIZERS >
      • Loaded Spinach Cream Cheese Dip
      • Loaded Deviled Eggs
      • Easy Cucumber Appetizer - Grazing Board Approved
      • Southern Sausage Balls
      • French Bread Bruschetta Pizza Appetizers
      • Cream Cheese Sausage Balls
    • BRUNCH >
      • Lemon Pecan Biscuit Scones
      • Hot Pockets - Delicious & Flaky
      • Roasted Garlic & Red Pepper ​Cheddar Buttermilk Biscuits
      • Coconut Pecan Loaf
      • Thin & Crispy Oatmeal Pecan Cookies
      • Pumpkin Pecan Chocolate Chip Muffins
      • Orange Cranberry Bread - A Southern Brunch Staple
      • Breakfast Pizza
      • Chocolate Brioche Buns
      • Raspberry Thumb Print Tea Cake Brunch Cookies
      • Brunch Cereal Cookies -
      • BLT Egg & Cheese Brunch Sandwiches
      • Chocolate Chip Banana Bread
      • Banana Pecan French Toast
    • Pat's Granola's >
      • Energy Balls - No Bake Oat Balls
      • Peppermint Holiday Granola
      • Pat's Kitchen Sink Granola
      • Hello Dolly Granola
      • Pumpkin Dark Chocolate Chip Granola
      • Peach Crisp Parfaits
      • Caramel Almond Granola
      • Pat's Granola Goop
    • DESSERTS >
      • Cast Iron Skillet Chocolate Chip Cookie Cake
      • Moist Peach Bundt Cake
      • Carrot Maple Apple Pecan Cake - With Caramel Sauce Topping
      • Maple Chocolate Chocolate Chip Cookies - Chocolate Heaven
      • Vitamin C Bundt Cake - Beautiful Orange Maple Bunt Cake with an Orange Maple Glaze
      • Christmas Gingerbread Men
      • French Vanilla Cranberry Pecan Bundt Cake
      • Dark Chocolate Mayonnaise Bundt Cake
      • Pineapple Pecan Cake - Pat's PPP Cake
      • Banana Cream Pie - Baked with #Purecane Sweetner
      • Dark Chocolate Pretzel Haystacks
      • INSIDE OUT GERMAN CHOCOLATE CAKE
      • Lemon Dark Chocolate Chip Cake with Caramel Sauce
      • Wedding Cookies
      • Oatmeal Choc Chip Pecan Cookies
      • Raspberry Bundt Cake
      • Divine Peanut Butter Cookies with Organic Cacoa Nibs
      • Pat's Ultimate Chocolate Chip Cookie Recipe
      • Pumpkin Chocolate Chip Bread
      • CHEESE CAKE FOR THE 4TH
      • Cherry French Vanilla Cake - With a Hint of Lime
      • Lemon Cake
      • SUNDAE SUNDAE
      • Banana Blueberry Pudding
      • MOOSE MUNCH --Torani Caramel Sauce
    • Side Dishes >
      • Sweet Southern Macaroni Salad
      • Jalapeno Cheddar Buttermilk Cornbread Muffins - For the Spicy Cornbread Lover
      • Southern Sweet Potato Casserole
      • Twice Baked Potatoes
      • Pineapple Casserole
      • Oven Fried Garlic- Ranch Potatoes
      • Garlic Parmesan Potato Wedges
      • French Green Beans
      • Sweet Yellow Cornbread....
    • Main Dishes >
      • Puff Pastry Cheese Pizza
      • Cheesy Chicken Spaghetti with Spinach
      • White Bean Chicken Chili
      • Pecan Crusted Chicken
      • Apricot Glazed Pork Tenderloin
      • Brown Sugar Meatloaf
      • Pat's Southern Goulash
      • Bruschetta Parmesan Chicken
      • Chicken Pot Pie
      • The Ultimate BLT Egg & Cheese Sandwich
      • Margarita Pizza - With a Twist
      • Canadian Bacon , Bacon & Cheddar Cheese Pizza
      • Slow Cooked Paprika BBQ Chicken Legs
      • Margarita Chicken - Kraft Style
      • Pasta Primavera w/Grilled Chicken
      • Slow Cooker BBQ
      • White Bean Soup
    • KETO RECIPES >
      • Keto Cheese Cake- Delicious Cheesecake for the KETO Lover
  • Business Lifestyle Tips
    • Six Key Tips For Rebuilding Your Confidence
    • Hobby Farming - How To Make Your Hobby Farm Pay
    • Tips for Starting a Food Business From Your Home
    • Do You Have What You Need to be a Great Entrepreneur?
    • Tips for Building A Successful Small Business From Home

Lifestyle Stories 

#wherefoodmeetslife - life stories & more

​How Aspiring Entrepreneurs Can Get Past Prior Financial Setbacksand Launch Their Business

12/6/2021

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As an aspiring entrepreneur with a major financial setback in the past, the idea of launching a business might be a goal but also an intimidating notion. Thankfully, it’s possible to make your dream come true by using the right approaches. Here’s how to get started.
 
Handling the Planning 
One of the first steps you’ll need to take as you get ready to launch your company is selecting a structure. Often, going with an LLC is wise. It’s a flexible option with less paperwork. Plus, you’ll reduce your liability while potentially getting some tax advantage. If you want to avoid attorney fees, use a formation service like Zenbusiness.com or file on your own. Just check local laws before you start, as the regulations can vary by state.
 
Next, you will want to craft a thorough business plan. In many cases, your business plan helps you organize your thoughts and set critical priorities, all while ensuring you fully understand how your company will work, both functionally and financially.
 
Pre-Launch Research 
Research is another critical step you’ll need to handle when launching a company. Usually, you’ll want to start with market research, allowing you to learn more about your customers' needs and preferences. Then, move on to competitor analysis, ensuring you get insights that can help you separate yourself from the pack and secure more market share.
 
Getting Your Branding Together 
While you may think that hopping directly into a marketing plan is the right move, you’ll usually want to consider your branding first. By establishing a clear brand voice and making aesthetic choices in advance, you can ensure that your future marketing efforts are cohesive.
 
Once you’ve made the initial decisions, take advantage of free tools that simplify your branding. For your log, you can use the free logo maker online by Adobe. It’s simple to use and gives you a customized logo that you can use on your digital, print, and social media campaigns.
 
Getting Support from Your Community 
If your business is going to succeed, you may need support from your local community. Luckily, there are plenty of ways to secure it. Along with options like offering discounts or freebies to those in the area, you could run educational workshops relating to your business. Sponsoring local events can also make a difference, as well as joining your local Chamber of Commerce.
 
Choosing the Right Risks 
Risk is powerful in business. When managed – and embraced – properly, you can create opportunities for significant growth, pushing your company forward.
 
Simply running a company means accepting some degree of risk, but you want to make sure that any chances you take are actually good moves. While exactly what constitutes a smart risk can vary, you usually want to focus on opportunities where the possible ROI is respectable and the harm from a failure is minimal. Additionally, using research and metrics to guide decisions is typically part of the equation.
 
Improving Your Skills 
In some cases, aspiring entrepreneurs don’t feel like they have the right skills to start their company. If you’re in that boat, then you may want to use a different approach, ensuring you can prepare yourself for the work ahead.
 
One great option is heading back to school to get your MBA. That way, you can further your knowledge and acquire skills that will help you develop strategies, oversee operations, and manage your company.
 
Credit:  Derek Goodman

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