If you’re passionate enough to start your own business, you should take steps to make sure it gets off to the right start.
Dallas, Texas (PRWEB) December 11, 2014
As the beginning of 2015 approaches, many aspiring small business owners will take the opportunity to set a New Year’s resolution and leap into entrepreneurism. David Kiger, founder and executive chairman of the Dallas-based global logistics firm Worldwide Express, understands the challenges and frustrations entrepreneurs face. To help support the development of the entrepreneurial spirit, Kiger outlined four keys for those starting a small business in 2015.
“When an entrepreneur is just beginning their journey, there are so many unanswered questions,” Kiger said. “It’s important they get advice from a variety of sources to ensure a good foundation is established for their small business.”
1. Explore your extended network
It’s natural to turn to close friends and family for insight, Kiger points out, but there could be value beyond that range as well, with contacts on LinkedIn and in other arenas. “By looking outside typical sources of feedback or guidance, you open up incredible opportunities for your business,” Kiger said. “You may have a friend who has a colleague or boss that would be a perfect source of information, but you won’t know until you try.”
The insight gained from an outside source may even be more beneficial, since someone who doesn’t know a potential entrepreneur very well is more inclined to offer unbiased advice.
“With the rise of social networking, it’s easier than ever to find someone with the right expertise who is willing to provide input on your future business endeavor,” Kiger said.
2. Search for mentors in a similar field
“While it’s important for your mentors to be unbiased, it’s also important to remain unbiased yourself,” Kiger cautions. “Just because someone has an impressive title or a certain amount of business experience, it doesn’t mean their knowledge is relevant to your specific goals.” Kiger recommends that entrepreneurs examine the background of those they’re looking to seek advice from before bringing them into the fold.
“A successful person in another industry may have some general insight to share, but someone who has hands-on experience, both with entrepreneurism and with the industry you’re looking to enter, will be able to offer much more valuable information,” Kiger said.
3. Look for inquisitive advisors
Kiger also points out that, similar to an investor, an adviser will want to ensure the time they’re dedicating will have a positive return.
“You’ll have an abundance of questions for a mentor or adviser,” Kiger said. “But he or she should have a slew of them for you as well. If they don’t, it may be a sign that they’re not very committed to the project.” He recommends small business owners look for someone who eagerly inquires, rather than sitting back and waiting to be asked for something.
4. Don’t let the legal stuff pile up
One of the most important roles an advisor plays is helping an entrepreneur navigate the complex legal aspects of starting and owning a small business. Failing to address these issues early on could be a costly mistake.
“If you’re passionate enough to start your own business, you should take steps to make sure it gets off to the right start,” Kiger said. “Look at it as a way to protect your investment and the future of your business.
Kiger advises that those new to owning a business seek out an expert to help address all legal matters as well as the costs associated. By taking these steps with his own business, Kiger was able to turn his small business idea – started out of a spare bedroom with just $5,000 and a smart business plan – into a thriving global logistics company.
About David Kiger
David Kiger, founder and executive chairman of the global logistics company Worldwide Express, offers advice to entrepreneurs through his blogs, Business Chat and Cultivating Knowledge, Driving Action, and his popular Twitter account (@DavidKiger).