Kicking off a new venture? Whether you’re adding to an existing service offering, or launching an entirely new operation, starting something new can be a challenge in more ways than one.
As I start business planning, I usually find the problem is to work out specifically what I want to achieve. “I want to be able to make a living doing this” is a nice idea … but what’s “a living”? Whatever it is, I don’t usually expect I’ll be making it in the first month of operation — I need time to build a client base, secure contacts, sell my services, and complete some work. And that’s usually before I get paid.
All this can very quickly become overwhelming — sometimes to the point of paralysis. Rather than giving up, I’ve narrowed down three possible options that I pull out when I reach this point. These kick-start my planning and get me on the road to starting something new.
Option 1: Set a Dollar Goal
This is a fairly easy way to get started: set an income goal that you want to reach every month (or week, if you prefer). The only thing you really need in order to do this effectively is an idea of the rate you can charge, and/or a grasp of the size of the market for your offering.