5 Steps to Fulfilling Your Entrepreneurial Dreams
Susan Mason, Director, Intuit's Financial Freedom Foundation
Over the next decade, women around the world will enter the workforce at an unprecedented rate. Close to 1 billion women, many of whom have either never worked or worked at a subsistence level, will be contributors to the world economy. Small business formation specifically will be a key driver to the growing influence of women around the world. The recently announced Intuit 2020 Report describes the growing influence of women as the "She-conomy."
Being an Architect of Change was much discussed at The Women’s Conference; entrepreneurship and small business formation certainly embodies that sentiment. Currently, women are starting businesses at twice the rate men are. For those women who are still on the fence or do not know how to get started, here are 5 critical first steps to fulfilling your entrepreneurial dreams:
- Put it on paper. Writing a plan for your business will help you think about every possible scenario. Going through this process and having it on paper will help you stay on target. The U.S. Small Business Administration has a great written guide to get you started.
- Ask questions of experts. You can find local support and training via government-funded small business programs and community college business classes. Check out the nearest ASBDC by searching your zip code.
- Structure it. Your business structure is important, because it has tax and legal implications. What are the advantages of a Sole Proprietorship over a Partnership? Learn more about the advantages.
- Get a personality. Picking the right business name and logo will help you attract customers. Put yourself in their shoes, then start writing down ideas for names. Bounce your ideas off family and friends. Intuit offers some tips.
- Spread the word. Marketing can help turn a great idea into a money-making business. Create a marketing plan that includes a profile of the people who are most likely to buy your products or services. Then determine how best to reach them: social media, newspapers, industry publications and radio. Mashable blog breaks it down for you - offering tips on how to market with no budget.
Starting a business has never been easier or timelier. We look forward to seeing the She-conomy in action!
For more information on how to get started, please check out Intuit.com.
Susan Mason is the director of Intuit's Financial Freedom Foundation.