What You Need to Know About Starting a Business in 2020

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Starting a business is no easy feat and any successful entrepreneur will tell you that. But with the right tools and resources (and some good old fashioned hard work), it’s absolutely doable. If you’re tired of the 9 to 5 grind and you’re looking to shake things up for the New Year, here are five things you should know about starting a business in 2020.

1. You’ll Need a Plan 

Don’t try to start a business without a plan because you’ll be wandering aimlessly. With a plan, you’ll know exactly what your next steps are and you can always update your plan as your business grows. A business plan can help you reach your goals more effectively and you won’t be wondering how you’re doing as time passes. So write down your goals for your business. Where do you see yourself in the next five years? What steps can you take to ensure you reach those goals in that time span? Make sure your goals are measurable and attainable. Don’t be too unrealistic, but also, don’t sell yourself short.

2. You’ll Have Good Days and Bad Days 

What no one really talks about when it comes to starting a business is that you’ll have good days and bad days. No matter what you do, you just can’t escape it. It’s just like life. Not everything is going to be rainbows and sunshine, but the important thing to remember is that you have to keep pushing forward and trust that better days are on their way. 

3. Taking Advantage of Digital Platforms is Essential

If you’re going to run a successful business, these days, it’s important that you take advantage of digital platforms so you can build brand awareness and increase sales. If your business isn’t online, it’s almost as if it doesn’t exist. These days, people are shopping online more than they’re shopping in stores, which means you need a strong online presence and digital platforms can help you get there. 

4. There’s No Set Path

You might think starting a business is a straightforward path to success, but that’s simply not true because success looks different for everyone. And success happens differently for everyone. If you’re the kind of person who needs guidance, however, it can help to find a mentor that you can reach out to for questions and concerns you have about running your business. It’s typical to meet with or call your mentor at least once a week, and they can be especially useful when times are tough. So look for a mentor that can help you through those uncertain times and give you words of encouragement during the not-so-tough times.

5. Work-Life Balance Isn’t Always Easy

Balancing your time between work and your home life isn’t always the easiest thing to accomplish. A lot of entrepreneurs spend more hours working in the first few years of starting their business than they do working at a regular full-time job. That’s not always the case, but nonetheless, you should still be prepared to put in more hours working on your business. It might be hard in the first few months or years, but it’s definitely something to consider before starting your business.

Getting Started

If your 2020 New Year’s resolution is to earn some supplemental income, companies like Amway can help you get there. If you haven’t heard about it, you’re probably wondering, “What is Amway?” Amway is a global direct sales company that uses Independent Business Owners to sell health, beauty, and home care products. Check out the ways it can help you reach your goals in 2020 and beyond.

Now that you know exactly what it takes to start a business in 2020, you can begin formulating a plan to get you where you want to go. Deciding what kind of business you want to start and writing down your plans and intentions can help you get started.