GroundUP’s believes everyone who wants to start or have a business has to know its own business skills and available resources before getting into business of their own. There are countless ways to start a business. Most of us are eager to get it going as soon as possible. Not surprisingly most start ups and vast majority of small businesses do not pass the three years of age. GroundUP believes that the initial effort to understand what one can do will save money and increase the chance of success.  We see four stops to start a business.

Step 1 – Discover if Having a Business Is for You at This Time.

GroundUP Business believes that most people can have and successfully operate a small business. The question is starting or having a business for you? To find answer to this question you have to understand if you have reasonable expectations.

It is not impossible to have a business if you do not have experience.  But it will be expensive in time and money to gain the expertise on your own. The first business idea seldom becomes a success.

Why do you want to have a business? Do you want to change the world, Have a an innovative product or just need the income? Are you persistent and energetic worker that get things done? These important questions need and answer before moving forward.

Step 2 – Define What Resources Are Available to You

GroundUP Business identifies three major resources Time, Money and Skills that are the foundation of every business endeavor. Finding out what is available to you before starting will save money, time and effort. By being aware about what resources you have available, you will increase the chance for a successful startup and build a viable business. Effort, dedication, perseverance and desire to learn are required in the process of creating and sustaining a business.

Resource 1 -  Time
The first question to answer is Do I have the time? Availability of Time is often ignored but, crucial resource. Entrepreneurship is time consuming and if you do not have enough time for extended period, usually a few years, you are not going to go anywhere.

Resource 2 – Money
The second question is Do I have the Money? The main source, if not the only one for startup money is you and your friends and family. Money for small businesses is hard to find. Most banks avoid giving loans to new small businesses. You may find some private sources that will short term financing at exuberant rates and ask for collateral.

Resource 3 – Do I Have the Skills
GroundUP Business identifies three major business skill sets Communicator, Craftsman and Organizer.

• Communicator is someone who is skilled to interact with people. This person is better in sales, marketing, and public relations.
• Craftsman is one that has skills and passion to make stuff with her hands. This person is better in producing tangible things.
• Organizer is an individual that is skilled in managing people and organizations. Such person is good in management, project management, supervision etc.

There are specific skills that are relevant to each of the tree categories. List all than you have in detail under each category. You will see that a picture begins to emerge. Most people are very strong in one area, somewhat strong in the other and there is a big gap for the third.

Step 3 – Decide on a Product

Begin to scan the business environment. Look for current trends in the society, changing consumer taste, economic situation and demographics. Make a list of potential ideas and products. Do not look for a perfect one. Include every idea that you can think. Keep in mind earlier determined resources and skills limitations.

We suggest that when doing research and deciding on business product you create a list with a few compatible product ideas. Most likely, you will go to a few trial and errors before finding suitable product.

Step 4 – Test

Test, Test, Test to learn if you have a viable idea or not. Here is where the rubber meets the road. Testing should cost next to nothing and has to go on for a limited period.

You already conducted the research and now you know who is the customer and what is the product. At this point the product has to be physically available for sale. The next step is to find out how big is the demand. There is always a difference between promises, expectations and real sales.

To this point all expenses have to be been kept to a minimum. If the test is successful and the idea becomes a business you will need to spend more in order to grow. You can self-finance the expansion if you the business produces enough profit.