When you’re just getting started, you might be too focused on the ‘how’ question of how to start your own business. As your business scales, you’re going to start to ask yourself questions about the ‘what’ issue. What is the value that I am providing to my customers/sustainability of my employees/the community? These are all important questions to ask yourself. You need to be realistic about the ‘value addition’ and ‘sustainability of your employees’ question. If you need to raise more money, then be realistic about what it will take to do so and how much you need to raise. If you need to increase the number of your customers, then be realistic about how many you can realistically cater to and what will happen if that number is not reached.
If you’re just getting started with your own business and you’re not quite sure where to start, it’s best to start with a business plan. A business plan outlines all of your revenue and expenses and tells you what to expect in terms of revenue, expenses, and when your plan will fruition. Once you have a plan for how you plan to get to your goal, you need to look at what steps are necessary to take you there. For example, a business plan might outline how you are going to get from A to B. However, if you don’t know where to get from A to B, then how are you going to get from A to Z? Start with a business plan and you will be well on your way to starting your own business.