Starting Your Business Smaller Can Make Your Success Bigger
Copyright (c) 2009 K. MacKillop
LaunchX
http://www.launchx.com/

For many people with a great business idea, the delay in taking
the plunge into entrepreneurship is because of the lack of time
or money to get their idea off the ground. In most cases, there
are viable means to modifying the business idea into something
that can be started part-time and with less capital than the
original plan. Starting out smaller can be very advantageous,
allowing you to keep your current job, bootstrap the startup to
fit your out-of-pocket budget, learn more about the industry, and
test the market for your product or service with limited risk.

There are very few business ideas that cannot be modified into a
simpler, more niched startup. Sometimes, though, it is difficult
to see or accept a smaller piece of an idea when you are certain
your big idea is going to succeed! There are several ways to look
at it — for some, not being able to launch the whole plan at
once seems futile and a waste of time. Some worry that starting
out with a smaller idea will leave them stuck in that niche for
the duration. But really, if you can’t start up your original
idea because of financial or other restraints, at least getting a
smaller piece of it up and running puts you on the right road.

You can plan around the success of that smaller endeavor to get
you where you want to go. If money is a problem, keep your day
job and launch a part-time venture that will earn enough to
eventually fund your grand plan. If you have several smaller
ideas, launch all of them and work your plan to grow the pieces
together into the company you want to run. If time is an issue,
keep in mind that committing a mere three hours per week equals
nearly a month of full-time work over a year! The time is going
to pass whether you get started on your own business or not, but
starting now will get you that much closer to working only for
yourself. There are a million good reasons to get started sooner
rather than later, but few good excuses to wait!

So, how do you miniaturize your business idea into something you
can start on a smaller budget or part-time? First, consider all
the components of your business idea. For example, if your dream
business is to be a real estate developer, that venture can be
divided into multiple steps, each of which offers several viable
small businesses, such as:

Site Selection — Write a how-to manual, offer consultant
services

Site Inspection — Obtain an inspection license for PT work,
consult with property owners or other developers in preparing a
site for inspection, manage

Tax Incentives — Write informational product about how and where
to find tax breaks on specific development projects, consult with
developers to maximize tax benefits

Demolition — Provide demolition services, site cleanup services,

Rehabilitation — Provide any number of specific construction
services, such as drywall, painting, floor installation, and the
like; create a contractor review service, provide quality
inspections; independent salesperson representing construction
materials

Cost Management — Provide consulting services as a CM
(construction manager), consult for CM software

Filling the Space — Get Real Estate license, broker’s license;
start property management firm

As you can see, a big dream like running a property development
firm can provide dozens of smaller startup ideas that allow you
to gain experience, knowledge, connections, and, most
importantly, capital to eventually build your own development
firm. This method can be used to break most big business ideas
down into smaller opportunities that will get you on the right
track to your entrepreneurial goals. Think about opportunities
under various business models — selling products, providing
services, online-only, etc. — and consider any “problem” areas
that you could develop a solution for.

Another option is to start up any smaller idea you might have
that will earn some capital to build up your resources for your
big idea. Think about the work experience you have had or
subjects that you are particularly knowledgeable about. One young
entrepreneur started an online video game help service –
customers paid a small fee to receive hints and tips for
conquering the newest video games — and over one year saved
enough of the profits to startup the mobile detailing business he
wanted to own!

The most successful entrepreneurs tend to be very flexible and
creative in getting where they want to go. Keep your eye on your
ultimate goal, but be willing to modify and change directions as
opportunities present themselves. Whatever you decide to do, get
started on your planning as soon as possible!

———————————————————-
K. MacKillop, a serial entrepreneur, is founder of LaunchX
and authors a small business startup blog. The LaunchX
System is designed to help entrepreneurs starting a business
(http://www.launchx.com/why-choose-launchx.html) based on their
business ideas. It is a complete business startup kit containing
everything you need to turn your idea into a successful business.
Visit http://www.LaunchX.com/ for a free Business Readiness
Assessment and get on the road to starting a business today.
(http://www.launchx.com/are-you-ready.html)

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