Money Mondays: Starting Your Own Business

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A business of your own, where you're the CEO. It's a dream for millions of us.

"It is a dream, and it's a growing dream even faster, I think, with the Mark Zuckerberg days. People are seeing someone start a business in college and become a billionaire. So, it seems do-able - where a long time ago it seemed a lot harder. Technology is now allowing access to start a business within really an hour if you want to."

And for women...

"Women are definitely starting businesses faster than men right now. Their desires are different. It's a little bit more around lifestyle balance."

Self-proclaimed serial entrepreneur, Jenn Groover, says although a large number of start-ups fail, being your own boss successfully can become a reality.

"So to maximize your success, you want to do research, surround yourself by people who have already been successful. Sign up for magazines like Ink Magazine and Entrepreneur Magazine and read stories, and model the resource styles that others use to become successful."

But can it really be jump started in just a day?
"Take us through the day. How can we start a business in a day, you're on the clock."

"Okay, great. so first you have to get your business registered. So you can use a local, legal service. With your bank account, you want a company that really supports small businesses. And then, once you have your bank account, you want to get your domain. So a company like SquareSpace is really great right now. You can get your domain and within minutes actually have your website up and running. You want to make sure you have your business cards so that you can show people who you are when you're networking because your net worth is your network. And so you want to get out and tell people about your company. And then once you have that, you want to make sure you have internet service wherever you go. Most people start their businesses from home. Ultimately the question is what companies are going to support your growth."

And after getting down to business on day one, it's all about making sure you have a thorough business plan that makes plenty of dollars and cents.

"The biggest thing you need to know when you're starting is what is your point of differentiation? What is your value proposition that sets you apart from everybody else? And how are you going to get your message out differently than everybody else?"