top of page

How to start a small business in 2023

#Artist#ArtisanPreneur#SmallBusiness #Entrepreneurship #NewYear

In today's society, it's no secret that starting a small business can be a daunting task. There are so many things to think about and consider before taking the first step. Where do you even begin?

What's in this blog?

Don't worry; I’ve got you covered. In this blog post, I’ll give you all the information you need to know about starting a small business in 2023. I’ll discuss everything from choosing your business idea to creating a marketing plan and everything in between. So if you're ready to take the plunge and start your own small business, read on!

Do your research

It's no secret that starting a small business requires a lot of research to be successful. From crafting your business plan to creating a budget and establishing policies, there are many important details to take care of. Fortunately, the internet provides endless resources to get you started. Everything from entrepreneurial e-books to detailed tutorials can be found online with just a few clicks. You can also find valuable information from local organizations like SCORE, the SBA (Small Business Administration), and city or state Small Business Development Centers. These organizations offer advice specific to your region, as well as mentorship, training workshops, and other services such as business loan programs or access to funding sources for start-up capital. Doing your research is key when it comes to starting a new venture; With so much available at your fingertips, there's no excuse not to take full advantage! In the long run, it pays off to spend the time upfront gathering all the necessary knowledge and know-how needed for success down the road. Besides – entrepreneurs have enough on their plate already – why make more work for yourself than necessary?

Create a business plan

If you're starting your own business, one of the best things you can do to help set yourself up for success is to create a thorough business plan. This has many advantages: it helps define the scope and direction of your company, provides an estimate of start-up costs, outlines a marketing strategy to help build brand awareness, and allows you to identify and target key segments of your audience. Additionally, it helps you understand how various external factors, such as competitors and changes in consumer demand, may affect your company's success. It's much easier to switch gears or pivot if something isn't working when you have that kind of roadmap guiding your decisions. A good business plan approaches the topics mentioned above in a comprehensive and organized way so that stakeholders understand the viability of the enterprise from all angles. Don't underestimate the value of planning! Taking care to create a detailed plan at the outset will pay dividends down the road. Focusing on good planning now can mean huge returns for your business later!

Choose the right location

When starting a business, a physical location - which can be referred to as 'brick and mortar' - should be among the top factors to consider. Is the area you are considering enough for foot traffic? Will there be adequate parking facilities for your customers? Is there competition from other businesses in the same line of work? Depending on the kind of business you plan to run, all of these factors may play a crucial role in deciding if that physical location is suitable. Alternatively, these days it's always worth keeping an eye out for options to run it entirely online! With the rise in eCommerce and digitalization, this is a growing trend that lockdowns have only accelerated over the last few years. From setting up an online store website to making marketplace sales and even running virtual classes, there are lots of options nowadays when you decide to go digital. No matter which route you end up choosing, location really does matter!

Get the necessary permits and licenses

When setting up a small business, it can be important to check legal requirements with the local government. Even if you are just running a home-based business or tech company, there may be various laws and regulations that apply. This is especially true if your enterprise involves eCommerce, trading of stocks and shares or contracts with customers. To protect yourself and your customers, it’s important to ensure you’re working within the legal framework. Depending on where you live, you might need permits or licenses from a regulatory body – from your city council to the state government - in order to start selling things or offering services for profit. It's best to double-check that all legal criteria have been met and that necessary paperwork has been completed - this will give you peace of mind and enable you to go about your business without unduly worrying about legal issues. Taking the time to research legal requirements and obtain relevant permits, licenses or certifications is definitely worth it: it will keep operations running smoothly and help avoid any possible legal hassles down the road.

Look for Your Team

When building a team for your business, look for people who will be the best fit. Making sure to carefully screen candidates and explore all options, from freelancers to contractors, is vital in ensuring you get the most out of your organization. Start by getting to know potential hires and learning as much as you can about their skillset and experience. Ask them plenty of questions and ensure they can demonstrate their competencies through past successes. Evaluate their personality to make sure they mesh well with the rest of the team before choosing someone to hire. Don't be afraid to look beyond traditional avenues - searching through LinkedIn profiles or recruiters may give you a wider pool of talent to choose from so that you can find the very best fit! With a qualified, skilled, and well-suited team in place, you'll put yourself in a much better position for success. It pays off in dividends when every person on your team approaches every situation with a unified vision that involves everyone's strengths combined together! This is why it's important never to settle for just anyone - make sure you take your time when vetting candidates for each role on your team so that you see maximum results in the long run.

Promote your business

Social media is an essential tool when it comes to getting the word out about your business. Building an organic social media presence takes time and effort, but once established, you can reach a wide range of customers with little to no additional cost. Paid social media advertising is another effective way to reach your target audience in a short amount of time. However, social media isn't the only way to promote your business—word-of-mouth is still one of the most powerful tools for businesses. Encouraging existing customers to share their experiences and spread the news through reviews and referrals can help get the word out about what you offer. Additionally, more traditional methods, such as print advertising or sponsored events, can also make a difference. Whether you opt for organic or paid social media campaigns; encourage word-of-mouth reviews; create engaging print advertisements; or organize events, there are a number of ways you can use to promote your business and get the desired results.

So, if you’re thinking of starting a business in 2023, congratulations! It’s an exciting time, and I want to help make sure your success is guaranteed. That’s why I offer free consultations – so you can sit down with me and map out a plan that works for you. Contact me today to get started! Thanks for reading!

Do you want to know more about turning your creativity into a business?

Of course, you do! That’s why I'll write more articles on this topic. I want to help you understand that creatives can also be good entrepreneurs.

SUBSCRIBE BELOW to my free email newsletter today, and I'll send you an e-mail whenever I publish a new blog!👇👇👇