This article contains the second 3 of 10 total steps I follow to start businesses. See Steps 1 through 3 here. Next week we will discuss steps 7-10. STAY TUNED!
Starting a business can be a daunting task. There are a million variations to accomplish
a variety of goals. And when you list it all out, it can cause you to second guess the idea. However, as a persistent business owner, you must acknowledge that the road won’t be easy. Identifying a plan and chopping it into bite size pieces is important.
While there may be no one single way to create a business every time, the ten steps discussed on this blog series over the next few weeks have been proven to work in my businesses (no matter how big or small) TIME and TIME again. For this case study, we will also use my business, The Cashflow Hustle, to go through how I utilized each of these steps
4. Establish your contract / employee needs & budget
Check out this article which talks about the importance of understanding what you are NOT good at. In essence, that is what we want to then delegate so we can focus on things we are good at and therefore help the business thrive.
There are many ways to build a team – from bringing on partners to hiring employees. Starting out, the idea is to put your ideas onto paper. Identify the tasks needed for your organization to stabilize and begin to grow over the first 1, 3 and 5-year periods. This will give you a list that you can then put into groups.
The Cashflow Hustle: Tasks included in my list were website creation, logo creation, blog content creation, guest scheduling, editing audio, art/marketing creation, podcast hosting management, website podcast content updating, affiliate linking, basic bookkeeping to track revenue and expenses.
I can do (or figure out how to do) all of these items listed. I enjoy a few of these items. I dislike other items. And I am bootstrapping this effort (financially) as well as working full time. So, I definitely need some help. But I don’t have the money or need to hire anyone full time.
Enter the arena of contract labor and “gigs”. Fiverr offers a unique solution for qualified help on an easy to use and understand platform. Think of it as shopping for a new car online – you get to pick your budget, style and ever read the reviews.
A few examples of tasks for year 1:
In the very beginning, I did it all. Now I am building out my teams. Years two and three have target milestones for management of other business tasks. The idea is to have a plan in place with goals and then take action and work your plan as you move forward.
5. Build your website
here are various web building platforms out there. If you are new to the space and not overly savvy in website design, Weebly is a phenomenal resource for all things from blogs to e-commerce.
The importance of having a well built and effective website should not be overlooked. Many times, your website is the first thing people will see when they begin researching you and or your business. As you look at different “templates” to use, no matter the platform you choose, keep in mind the brand’s message as well as your target audience. You want to make sure that as soon as people land on your page, they are captured by what you have to offer. From images to text, every piece paints a picture of the quality and value you are providing.
A few samples of business sites I have built include:
Real Estate Service - NoteFlowRei.com
Grooming E-Commerce - ElChoppoHairCartel.com
If you are interested in some help on building out your site, I would be happy to look at your project with you. Click Here to get in touch.
6. Build your social platform
Once you’ve got you website built out and have a basic “look” and “feel” for consumers to connect with, it is time to tie in social media accounts. Like it or not, social media participation and presence is an aspect of your business that will be judged by your target audience. Therefore, it is important maintain consistency with your branding.
This can be as simple as using the same or similar images and text. For example, when you look at TheCashflowHustle.com and then compare that to our Facebook group page and Twitter account, you know when you land on any of the accounts, they are connected. Our website headers and social media headers all match. This may seem like common sense, but I have seen many brands with significant inconsistencies in their various platforms.
A terrific app I use to maintain consistency on branding is Canva. The platform basically allows you to use templates (sized according to your target platform) and create designs that have a very professional look and feel. As an example, all of The Cashflow Hustle podcast episode artwork has been made using this simple drag and drop app.
Next week, we will talk about ways to automate social media posting in order to remain top of mind when it comes to your target audience as well as making sure you are setup to keep clean accounting records and boost sales by driving traffic. STAY TUNED
Justin Grimes has been an active real estate investor since 2007 participating at various levels in asset classes from single-family rehab and mortgage note creation to multi-family, self storage and mobile home parks.
NOTE: This content may contain affiliate links through which we are compensated when you click on or are approved for offers from our partners. It helps cover some of our expenses to continually run the podcast and platform. See our disclosures for more info.
SALES LEAD GEN.