Take A Leap Of Faith On Leap Year
- Business & Social
- By Angie Lim
- Jan 17, 2020
- 0 Comments
It is never too late and you are never too old to start today. Whatever it is you want to do is possible when you have the drive and passion needed to fuel these dreams into reality. Itching to take on yoga? Been wanting to get on Keto? Interested in launching your own makeup line? Nothing and no one is stopping you. If you’re in a pickle trying to figure how to start, we have a few pointers for you that we hope to encourage you to take the next step to what could be the most rewarding decision you will ever make.
Bootstrap Your Way To Success
Contrary to popular belief, you don’t need a lot of funding in order for your dream empire to materialize. In fact, some of the most established people in the startup industries have been quoted to say time and time again that they regret ever taking out a loan from the bank or connections. If you’re clever and can find a way to earn from resources that are abundant and readily available to you, then the challenge of having a product to sell and the ease of accessibility has already been covered.
The Mom & Pop Corporation
Of course, who wouldn’t want funds to help soothe the birth pains of your new brainchild? Whether modest or substantial, investments are a great way to help you scale a little quicker and to allow you to have more mobility and options when starting your brand. Sure, you can always start the organic way and save yourself from the debt and responsibilities that these investments come with, but if you have a solid 3-year projection and a financial road map and know in your heart you need certain things acquired and moving for the best possible start, the first and best place to look for funding is always through your family and close friends. Chances are, they’re more inclined to give your business venture a shot without the crippling interest.
Signed, Sealed, Delivered - I’m Yours
Get your business registered! Whether big or small, it’s important to have your engagements sorted by the Department of Trade and Industry. They will provide you with everything you need in order to operate fully and for more clients to be inclined to work with you. Big brands and institutions are less likely to engage with vendors who don’t possess official business papers and official receipts. If the legwork seems too daunting for you to process on your own, there are accountants and companies who offer to process them for you for a fee. For more on this, you may visit the DTI website as well as the landing sites of companies like Taxumo and Permitly to help you get started. Our advice? Take the time to do everything yourself so that you’re familiar with the steps and save on having to pay a third party for it.
‘Til Death Do Us Part
When selecting your co-founder(s) and team members, keep in mind that you’re in this for the long run. It’s a lot like a marriage and less like a relationship you can call off when you feel like things are going south. Your partners are there to celebrate with you through the highs and roll with the punches with you at the lows. Choose wisely and always prioritize transparency and open communication to make sure that all of you are on the same page.
Great things don’t come easy, so be prepared to put in a lot of elbow grease. Make sure that the passion project you choose to grow is something you see yourself sticking to! Great ideas don’t materialize overnight and even the greatest CEOs couldn’t have executed all the brilliant projects they’ve done by themselves. Be patient with the research steps. Choose your partners wisely. Consider everything from expenses to logistics. If at any given point it seems too difficult, learn how and when to pivot. Never be afraid to ask for help and to take a moment to step back and reassess in order to know what the next best move is.
The hustle can get tiring, but never let it deter you from achieving your goals. With a supportive network like the InLife Sheroes Program, efforts for establishing a business and social network are easier. Chin up and good luck, Girl Boss! Make us proud!
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AUTHOR BIO 5'1" of good intentions and an insatiable appetite for all things fun under the sun.