Time to get your slice of the pie!

Tis' the season of holiday cheer and a whole lot of spending. Entrepreneurs everywhere are getting their piece of the pie. This holiday season, ecommerce, which is already a 340 Billion dollar industry, is expected to grow 16.8%. People are literally becoming millionaires between the month of November and December. Take Reynell Steward (a.ka. @Super_cent), who topped the records and became a millionaire in 90 seconds this recent Black Friday. There has never been a better time to start your business and its time to take that leap of faith.

In a 1997 interview with Jeff Besos explained that he started Amazon as an online book company because the internet was growing 2,300% that year. Now he eclipsed major wealth giants to become the richest man in the world at 160 Billion net worth. He saw a gap in value, took a leap of faith in a growing market, and look at him now. Stop waiting!

We are approaching the last days of 2018 and you can reflect on this year as the year dreaming about being a business owner, or you can start today. 2019 will be your year of increased income but that will be determined by how you end this one. As I've said before, entrepreneurship is a sprint to a marathon and you have been walking and dreaming this whole time.

I know it can be a scary thing to put yourself out there but that's the whole point....put yourself out there. Use your gifts and passions to bring value to the world. I learned a great lesson about business from my 12 year old niece.  She started a slime making company to sell it to kids in school. I remember when she stopped asking me for things like shoes or clothes one day and switched to a list filled with tons of Elmer's glue and other slime ingredients. This slime market was a viral trend among kids at the time and she capitalized on it. One day I was asking her how her slime business was going and she said she stopped and had a new business plan for homemade lip gloss. Apparently the trend was over and a new trend was here. She adapted to the market and continued to bring value. She didn't consider her slime business a failure, it was an opportunity.  If a 12 year old can do it, you can too.

Steps to starting a business: 

Step 1: File DBA
This is the first executive move you will make declaring to the state the name you will be "doing business as" whether it is your name for independent contract/service work or a fictitious business name. This can be done at your local county Registrar's office and allows you to go to step 2. Please save your money and do not pay a company to do this for you. It's really simple.

Step 2: Open a business bank account
It is extremely important to keep your personal and business finances separate from the start. I recommend Chase bank if its near you. They are the premier bank for small businesses right now. This keeps doing taxes in April very easy.

Step 3: Create a gateway for consumers
Gateways are websites, store fronts, your garage, farmer's market, and any place consumers can find you. If you have a product to sell, you can g sales through a website such as Shopify. It doesn't cost you much and has easy templates for you to use if you're not familiar with web development. However, 74% of small businesses don't even have a website.

Step 4: Market your product/service
People don't know if you don't spread the word! Creating social media pages relevant to your market is a great way to generate traffic to your site. Also, don't neglect guerrilla methods of literally handing out flyers on a corner. Humble yourself and put yourself in front of as many people as possible. The more you invest your time and money in marketing your business, the faster it will grow.

Step 5: Transfer consistent value.
One of the most crucial pieces to your business flourishing. You have to be consistent. Let your consumers know what they are to expect from your business and deliver that above and beyond. 88% of consumers read reviews before they purchase. Think Chick-fil-a.


Often times the fear we feel from starting a business comes from the attachment to the business. All businesses have an open date and a close date. How value is presented to the world changes and those that adapt are often greeted with success. What are you waiting for? 

Jon Kinnard
@hustletocreate