10 Step Recipe for Cooking Up a Small Business

Have you been downsized out of a secure job or feel like the end is near? Even though economic news has plenty of ups and downs, this could be a great time for you to cook up a small business. Plenty of people are doing just that with good success, but it’s not something to slap together on a whim. Tried and true recipes for success really work, and here are thirteen great ingredients.

1. Daydream. Spend time meditating on your dream and let your subconscious light your way. You’ll get a better idea of what you want to do and where your skills lie by clearing your mind to let answers flow.

2. Identify what you want to do. If you choose something you love, that you’d do even if you weren’t paid, success is in your pocket. Go with your passion. Find the best way to match your greatest passion with making a living.

3. Seek a mentor, a trusted advisor. All successful business people tell of their epiphany born of a seasoned pro’s stories. Open your mind, heart, and ears so you can identify someone to help you over rough spots. Ask tons of questions at every step.

4. Write a business plan. True, some lucky people impulsively put their eggs (and money and effort) into one half-envisioned idea. Still, ask the Small Business administration, a most useful resource for entrepreneurs. The most successful businesses are modeled on a well-conceived written plan.

5. Plan your budget. Dog-walking services can make money on a shoestring. A leash and walking shoes are cheap. A handyman needs more in reserve for tools, a vehicle, and other overhead items. A restaurant requires lots of cash. Be real about what you’ll need.

6. Plan your finances. Before you spend one dime, make sure you know where you’ll get the money for your first six months of operations. More would be better.

7. Know the law. Find out what your city, county, and state require of small business owners. An ounce of preventative study can avoid pounds of legal headaches later. Will you need a permit? Can you operate from home? Licenses?

8. Learn your market and your competition. Talk up your idea and see how people react. Google for similar businesses, even those out of your area. Email the owner and ask what they might have done differently or what their biggest triumph was.

9. Ask for help. Enlist friends, family, co-workers, neighbors. Give them a sample of what you do. Ask them to consider using your product or services. Ask them to spread the word. Networking is a success essential.

10. Keep impeccable records. Use your home computer to store all data safely. Back it up. Keep notes about what works and what doesn’t. Record contact info for all customers and prospects and keep in touch with them.

Once you’re up and running, make as strong a commitment to your new venture as you would to a cherished love. Be generous with your time, energy, and creativity. Keep an open mind and a light heart and never forget to enjoy what you’ve cooked up. If you mix it all up properly, before you know it you’ll be enjoying the fruits of your labors.

What’s ahead for your career path? Try a psychic reading. Call 1.800.573.4830 or choose your psychic now.

29 thoughts on “10 Step Recipe for Cooking Up a Small Business

  1. tenzin dawa

    I used to have small business. The business is out and I have no job. I have a girlfriend in India who wants to see me and i want to see her too for the first time. We both have been talking on the phone for one year now and decided to meet each other and see if we can settle for life. I have the money coming from insurance company where all of my products were total lost at the county fair. I don’t know what to do.I dont know when I will get my insurance check. I want to look for a job in a hospital or nursing home care for anything once i come back in the states and at the same time I want to start my small business once again. or I want to find a day time job and run the small business in the evening. should I go to India first, come back and then look for a day time job and run the business in the evening or WHAT SHOULD I DO ????? I dont know when the check will come, I dont know when can I go to India, I DONT KNOW ANYTHING.. PLEASE ADVISE ME

    Reply
  2. judy scarlet

    Too financially strapped to focus–poverty has been lifelong and ongoing with no light. First ex husband has placed me in financial ruin. what do I do? Can’t move on with this financial nitemare shadowing most of my life. Should I be brave and jump like men did when they lost everything in the depression?

    Reply
  3. Emalinda

    Very nice article. And its very timely coz I am planning to have an early retirement early next year. Thank you, this will serve as my guiding light in starting a new chapter of my life after 23 years of government service. When things go wrong as they sometimes will- i will just reread and INTERNALIZE the message of this article.

    Thank you ——– God Bless!!!

    Reply
  4. Debi

    i am living in a small town and can’t seem to find any work i am at my wits end i have asked people to help me and all i get is that i don’t know or i get empty promises or they go on vacation and forget about me can’t anyone help i have a two year degree and years of office experience but i am having trouble finding anything substantial. i have tried meditating but nothing seems to help this has put a lot of pressure on my relationship with my husband who seems to think that i am not trying hard enough. someone please help me i am broke and very lonely…

    Reply
  5. karlene

    Currently, Natural Hair Stylist. I dedicate all my time, energy and effort in my job because I have great passion doing hair. However, business is extremely slow because of the economy hence struggling to meet my basic needs. I have no capital to start a part time business but I will make myself available to work part time at home. I believe your advice will be beneficial to me. Thank you.

    Reply
  6. Angel Heaven

    Sooo tue! There’s no such thing as a “secure job”. Jobs, by definitions, aren’t secure… Why? Your employer who gives you the paycheck has the right to give you the pink slip once you’re no use for them. It is much more secure to build up your own biz, no one can fire you. Only you can quit on you, – it’s up to YOU!

    Reply
  7. Roland

    This article is so true. I am trying to follow my dream and open a restaurant. Unfortunately there is no one out there that wants to invest in the food business. But i am not giving up. Thank you for putting confidence back into my dream.

    Reply
  8. rabiya

    thank u soo much this is really good i am doing bechlor in psychology i realy like this field and i want very sucessfull in my life like u u or sooooo sweet

    Reply
  9. Mohamed Sahid Kamara

    I’m currently working, but my job is not well paid so I find it very difficult even to provide for my home. I’m planning to quit my job and embark on bsiness but again I have difficult to aquire the initial capital and even if I acquire the capital I do not actually know the type of business to embark on. Can you please advise and guide me?

    Reply
  10. Debbie

    This is great advice. I teach and work with people who want to and are starting a business and I recommended all of what you say. I also have people put together a month by month projection budget for the business and see if they can or cannot take any money out to live on. Most often they cannot. so take a little time, clean up your finances and then LIVE your dream.

    Reply
  11. Randi

    When you know what your passions are, it makes finding the light a whole lot easier. Now days it is harder than ever to find “good customers”, so you have to enlist your Karma and treat them extremely well after you do find them. They will never forget you.

    Reply
  12. CES

    I have heard all about those things before but didn’t mind what it says…but now that I have reached this age , and the economy has a big blow with my finances, I think I should follow or try to follow to be able to keep my senses. OMG!!!

    Reply
  13. Punam

    Truly , thoughtfully, metaphoric – symilies being used, the article is something driving the message very lucidly … Infusing it with cooking, meditation, creativity, It is quite crystal clear ….emphasising on

    commiting to venture as to love and being generous with time ,energy and creativity.

    Reply
  14. Mimi

    This is wonderful advice!. Meditating on how you will be living your new life manifests dreams. Thank you for sharing.

    Reply

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