11 Quick Tips For Launching a New Business
I’ve always had an entrepreneurial spirit; in fact, I’ve encouraged that go-for-it spirit into my kids- my tween daughter thought of, launched and is successfully running her own business.
I love offering my two cents when it comes to launching a new business- I’ve made my mistakes, have learned from them, and am now enjoying seeing Woombie, my brainchild, flourish.
Many mompreneurs don’t know how to get started, and there’s a lot of un-obvious steps you need to take when getting going. Here are my 11 tips for kicking things off smart, savvy and successfully.
Launching A New Business
1. Find a Need
Usually this comes from a personal experience. For example, one of my babies simply wouldn’t sleep, and after trying nearly every swaddle on the market, I knew there was a need for something better. I literally took to my sewing machine, creating the first ever Woombie prototype, and guess what- my newborn slept snuggled like a champ. Determining a need comes first- if you find use for it, likely someone else will, as well.
2. Check Patents
Next, make sure the idea doesn’t already exist. Conduct a patent search using a patent attorney. Another good idea is thoroughly surfing Amazon to see if like items exist, and if they do, how yours would be uniquely different.
3. Patent your Product
If you believe in it, do things right. Get the patent. It’s a process, and one that costs money, but it will protect your business in the long run.
4. Start Sourcing Manufacturers
Truth be told, I couldn’t sew millions of Woombies. You have to do some due diligence when it comes to bringing your idea to life. Seek manufacturers- in other words- companies who can make your product in bulk.
5. Seek Where it can be Made
Want it make in the US? China? These are decisions you’ll have to make, and have to look into. This might mean taking a trip overseas…
6. Devise a Business Plan
Before signing on any dotted line, make sure you have your plan in tact. Put together an outline on how you foresee things panning out. Be detailed. Be thorough. Make sure to include timeline and when you want to achieve certain things.
7. Get Funding
Yep, it takes money, and likely, lots of it. Seek investors, do presentations, run Kickstarter campaigns… really, anything that will get you some backing and validation. Have a rich uncle? Family makes good investors, too. 🙂
8. Research The Market
What’s trending? What’s the latest designs, colors, etc? Make sure your product design resonates with the current market. Take polls- social media is a great place to get people’s opinions. (Yellow versus green; dots versus stripes, etc.)
9. Place that first Purchase Order
Take a leap of faith and place an order. You can do it! Doesn’t have to be a big order, but it will definitely give you a confidence boost as a business owner. See your dreams come to life!
10. Create your Website
Make it pretty. Make it pop. And make it simple. Hire a designer to help make a logo- something catchy and cool. You can always source contractors for more affordable pricing, rather than big ad companies. This is also a good time think about a PR agency to help get your word out.
Get ready to get busy! Things might take some time, but if you’ve taken the correct steps, you should be ready to fly. Market yourself. Be a shameless self promoter. Don’t give up. Anticipate negative reviews and have tough skin. Enjoy the ride, and welcome to entrepreneurship.
This guest post was authored by Karen Barski
Karen Barski is the owner of Woombie.com, a baby swaddle system that flaunts a unqiue peanut-shaped design that gently hugs your baby recreating the feeling of the womb. The mother of five and former RN of 25+ years is a thriving entrepreneur, offering an array of Woombie swaddlers, self-soothing items, baby wear and teething jewelry.
Startup image via Flickr.