Episode Description:
Working for others may leave you feeling stuck and powerless, dreaming of a career that is more engaging and impactful. It’s feelings like these that often drive people to start a business and work for themselves. Going from employee to employer isn’t easy, but in this episode, The CoLab hosts Megan Marsh and Andres Munar will share their personal stories and four key steps you can take to prepare for starting your own company

Show Notes:
Running a business is not for everyone. It can be overwhelming, complicated, and downright scary. It takes the right combination of planning, people, and resources to make a business successful. Starting your own company can be incredibly rewarding but very daunting. The CoLab is here to help you take the next steps from employee to employer.

In this episode, hosts Megan Marsh and Andres Munar cover four steps you should take to prepare for running your own company or growing your current business:

Write a business plan—Create a blueprint for your business.
Know your numbers—Understand your budgets, costs, and projections.
Find the right people— Consider who will help you reach success.
Spread the news—Find marketing avenues to promote your business.

Ready to dive in? Here’s a preview of this episode of The CoLab:

[00:42] Starting your own business can be intimidating, but The CoLab has resources to help you take that leap and start your entrepreneurship journey.
[02:40] Megan and Andres share their personal stories of how they started their own businesses after experiencing frustration and challenges while working for others.
[11:58] What does success look like to you? It’s different to everyone, but picturing your success will help guide and drive you as you seek to start or grow a company. In addition to picturing that success, there are four key steps you should take as you start and build your business and start the transition from employee to employer.
[14:00] Step 1: Write a business plan. Creating a blueprint of your business will build a strong foundation for moving forward with next steps such as approaching a bank or investors for financing.
[17:40] Step 2: Know your numbers. As you start your business, it’s important to create and maintain financial systems. It may not come easy for everyone, but there are resources out there to help create budgets, track revenue and expenses, and create projections.
[21:30] Step 3: Find the right people. Who are the people you can rely on to help you start your business? From yourself to employees to business partners to attorneys to advisers, choosing the right people is key to your success.
[31:05] Step 4: Spread the news. Businesses need customers, and effective marketing will bring them to you—but you need to put yourself out there first. Networking, creating a website, and posting on social media are all low-cost means of advertising your new business.

We mentioned a few resources for starting a business in this episode. Be sure to check them out as you start entrepreneurship journey:

Watch our video “Small Business Owners- Learn Where to Access Govt Money Fast” or join our Facebook group to gain access to even more of our resources.

Reach out to your local Small Business Administration. These government offices are designed to help you plan, launch, manage and grow your business. Visit https://www.sba.gov/ to find an office near you.

Visit the Start A Business webpage. USA.Gov has created a resource page that can help you make sure you’re ticking off all the boxes as you start a business. Head to https://www.usa.gov/start-business to get started.

Connect with The CoLab at www.thecolablife.com or on Facebook, Instagram, Pinterest, and YouTube.
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