Stay Focused and Get Your Business Started in 8 Hours
Are you ready to start a business but feel you cannot find the time to get it off the ground? Strategic planning can minimize the time you need to jumpstart your new career. According to research, short periods of work increase productivity. By dividing tasks into specific timeframes, you force a sense of urgency that can boost your performance. Follow the Novato Chamber of Commerce’s tips for creating your company in one eight-hour workday.
9–9:30 A.M. Establish Your Business Idea
Pinpoint what products or services you will offer and identify how they solve customer pain points. Consider the amount of funding you will need and plan accordingly. Do not get ahead of yourself financially.
9:30-10:30 A.M. Write a Business Plan
Get everything about your new endeavor on paper. Draft a document that includes the essential components for your company, creating a guideline for growth. Define your financial, work, and lifestyle goals. Detail your target market and how to reach clients through advertising. Create your budget and identify funding sources.
10:30-11:30 A.M. Choose a Legal Structure
Form a limited liability company to protect your assets. An LLC offers many benefits for your new business. It provides flexibility and tax advantages, offers limited liability, and requires minimal paperwork. Hire an attorney to assist you, or reduce costs using a formation service. Before getting started, read reviews of different formation companies to find the best option.
11:30 A.M. - 12 P.M. Take a Break
Take a little time to reset, recharge, and refuel. Do whatever you know works best for your productivity. Eat a healthy lunch or snack. Go for a short walk outside or do a quick workout. Chat with a friend, meditate, or take a quick nap.
12-1 P.M. Determine Your Target Market
Who will benefit from your company's services? Brainstorm everything you can think of related to your ideal customers. Include their demographic information, interests, goals, and values. Pinpoint how your business solves their challenges.
1-2 P.M. Choose Ad Platforms
Select one or two marketing methods to connect with potential clients. Assess your competitors and identify how your value proposition differs. Devise a marketing plan based on specific goals.
2-3 P.M. Find the Right Tools
Enhance your productivity by getting tools for project management, organization, accounting, reporting and more. If your company's projects require multiple team members, use a PDF file merger to gather all documents into one file. Order your files into a system that makes it easy to find the information you need quickly.
3-4 P.M. Open a Business Account
Discuss the benefits, rules, and regulations of different account types with your bank. Get an application for your business account, gather the required documentation, and fill out any paperwork. Determine your opening balance amount and prepare your initial deposit.
4-5 P.M. Enlist Assistance
Decide which startup tasks you should delegate to other professionals. Hire freelancers to save you time by tackling specific jobs, such as building a website, creating an effective branding strategy, designing graphics, or writing content. You may choose to hire a marketing expert, accountant, or bookkeeper. When you delegate duties, you give yourself more time to focus on your areas of expertise, increasing your chances of success.
Prepare for Entrepreneurship
With a well-defined workday, you can lay a solid foundation for your new life as an entrepreneur. Start with a plan, and take small breaks while dedicating focused time to each essential task. You can typically get approval for an LLC within a few days, making your dream just a few steps away.
