Are you thinking about starting a new business this New Year? It’s a great idea and I say go for it but here are some things to think about prior to starting your business:

• What is your niche?
• Is the market already full of this particular niche? If yes, what will you do to be unique?
• Will you be selling a product, service or a mix of both?
• Research all costs beforehand and create an estimate so that you are aware of the upfront out of pocket start up costs.
• What will you use to market your business; social media, word of mouth, business cards, customized pens?

I have seen many people want to start a business and they are ready to jump right in, this is risky. When I finally registered Brandy Ellen’s Business Solutions it was after I had spent at least a year determining what services I wanted to offer. I also spent a couple of years in direct sales which allowed me to focus on my network marketing skills. I knew that there was money to be made from home, I knew I could succeed in reaching my financial goals. Within a year I can honestly say that I am at a point where I can see a future in working from home, my income has become more than my out of pocket costs and I am now almost financially independent so that I can pay my bills monthly.

Don’t get me wrong, I am not 100% free yet, I still have weeks or months when I am just a tad bit short for the bills and fall behind a little bit but I keep plugging away and putting myself out there. Starting a business is an exciting time and one thing I learned the hard way is that expenses should be kept to a minimum so that you are allowing yourself the best possible chance at a profit when end of year hits.

So have you started a new business this year? Did you already have a business in place but are focusing on new marketing strategies? I would love to hear your stories!