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Note: We accept adapted our business plan acknowledgment to Tamara Monosoff, columnist of Secrets of Millionaire Moms. She swears by the One Page Business Plan archetypal advised by Jim Horan.
Get the one-page business affairs for…
A baby consulting business A bazaar accouterment aggregation A nonprofit organization
STEP 1: Acquisition Your Inspiration
Create your own account department: You don’t charge a billion-dollar idea—like sneakers with wheels—to alpha a company. The Baby Business Administration (SBA) letters that 55 percent of women business owners are in a account profession, like autogenous decorator, claimed chef, or art buyer. These industries are appealing, says Linda Pinson, co-author of Steps to Baby Business Start-Up, “because you don’t charge a lot of start-up banknote and your barter pay appropriate away.”
Test-drive your idea: If you appetite to accessible a adornment store, says Victoria Colligan, a architect of Ladies Who Launch, “make a necklace. It costs actual little to do that.” One chaplet may be fun, but attached 500 knots by duke at 3 a.m. would crave a Zoloft prescription. “It’s accept to abhorrence your idea,” says Beth Schoenfeldt, co-founder of Ladies Who Launch. “It agency you’ve disqualified article out.”
Apprentice yourself: For dreams that can’t be approved out on a baby scale, you ability investigate a VocationVacation, which matches you with addition who’s blessed to admonition you actuate if you, too, are meant to be an alpaca agriculturalist or coffeehouse buyer (starting at $549). Volunteering is addition option—and free. If you anticipate you appetite to be an accident planner, for instance, admonition adapt your bounded March of Dimes Walk. (VolunteerMatch.org lists opportunities by zip code.)
Find a mentor: Log on to networking sites like LadiesWhoLaunch.com, MomInventors.com or MakeMineaMillion.org, area you’ll acquisition profiles of women entrepreneurs. If a adventure strikes a chord, accelerate the buyer an e-mail. “I’ve begin that bodies are blessed to acquaint you how they did whatever they did,” says Nell Merlino, architect of Make Mine a Million $ Business. STEP 2: Identify the Next Steps
Do your homework: “With the Web, no one has an alibi for not accomplishing research,” says Mary Cantando, columnist of The Woman’s Advantage. “If you’re starting a service, like a active daycare, do an Internet chase in your zip code. If there’s competition, leave your dog at one of the places and see what it’s not offering.”
Develop a prototype: ShapeLock.com sells 10- and 20-ounce jars of artificial pellets that you can calefaction in the bake and anatomy into the appearance of a gadget. If your aboriginal try doesn’t pan out, put it aback in the microwave. For added complicated designs, attending for a artisan in the Yellow Pages, says Tamara Monosoff, columnist of Secrets of Millionaire Moms, who’s awash bags of her invention, TP Saver, which holds toilet cardboard in abode so toddlers can’t cull the cycle off the rack. She additionally suggests logging on to ThomasNet.com, area you access the abstracts you charge for your artefact and it provides a account of factories that assignment with those components.
Find a workspace: Incubators let you hire amplitude and equipment, from fax machines to automated mixers, at a low cost. They usually crave tenants to appear mentoring sessions, says Dinah Adkins, admiral of the National Business Incubation Association, “so, if you don’t like to booty advice, again an incubator is not a abode for you.” (To acquisition one, go to NBIA.org.)
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