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Vol. 17, Issue 2 - Week of January 8, 2017

Become Your Own Boss in 2018Abridged: Entrepreneur

SEATTLE, WA -- Develop a Life Plan: This enables you to build a business that aligns with your personal goals. Your life plan should outline your financial, personal, learning, and retirement goals. Check Your Finances: Develop a plan to assess your full financial picture. Start by calculating your net worth. Develop a budget. Over the next 12 months, start saving 20%-40% of every paycheck. You should also have a 750 or higher credit score and eliminate any credit card debt.

Examine Your Business Skills: Look at what skills you have and what skills you need to run your business. Be honest when making your list of skills. Consider working part-time for a business like the one you want to start to gain industry experience. Marketing Plan: Who's going to buy your product or service and why will they buy from you? Business success is all about understanding your customer and providing a solution. Develop a marketing plan before you attempt the business plan to make sure there's a viable market for your business idea.

Business Plan: Developing your business plan will help you think through how you're going to run the business. It will help you clarify your sales goals and sales channels. Start out using a business plan software to get going. Launch While Working: Be a side hustler at first. Use your evenings and weekends to work on your business.

Other Articles in This Issue:

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