How to Start a Local Business | Disabled Person
The above picture is of a zoomed-in picture of a computer keyboard. There are a couple of black keys and 1 red key that says "Sell Yourself."
How to Start a Local Business
The
impact of the recent COVID-19 pandemic on people and businesses is still
unfolding, but it’s clear the new reality is somewhat different from the past.
It’s changed the way people live, work, and do
business. If you’re a disabled entrepreneur wanting to start a business in your local
community, specific considerations can affect your success in the long run.
This
doesn’t mean you must cast your dreams to the wind. disABLEDperson
explains it only means you need to be prepared and
make sure you have all the facts at hand to create and grow a sustainable and
mutually beneficial business.
Conduct Market Research
You're
unlikely to buy a house without considering what it looks like, how much it
costs, and whether it serves your needs. The same holds true for starting a
business. The most essential step in any business enterprise is conducting in-depth market research. Big business is possible in small places if it addresses the
needs of the community.
Shopify notes
that technological advancements have given consumers
a choice of multichannel and omnichannel
services. They can choose
from doing business physically, by telephone, or online. Therefore, it’s
essential that you carefully consider the available
business options, physical location, customer
demographics, and your community’s shopping preferences.
Write a Business Plan
Regardless
of the size of your business, if you fail to plan, you're planning to fail. A
business plan is the roadmap to your success and needs to include information on
proposed funding, location, name, registration, and
federal and state regulations.
It’s
also essential to choose the proper structure for your business, as this affects
your taxes, ability to raise funds, required paperwork, and personal liability
in case of legal action or closure. The most common and simplest business
structure is a sole proprietorship. If you start this type of business, you can
choose a “Doing Business As” name, different from the legally registered name. A DBA
allows you to sell products under another name if a domain name for your
business isn’t available or if you want to expand your product range.
When planning your
business, you want to make sure that you’ve considered what you can do to make
your customers’ experiences easier. For example, you might want to use software
with a balance API integrated to make fund transfers easier.
Having a business advantage is all about what you can do to exceed your
customers’ expectations.
Put Your Local Community First, While Supporting
Far-Away Causes
Oliver points out
that local businesses are the backbone of small communities. Your business
can create valuable job opportunities and help grow the economy. It contributes
to money circulating in the local community, and the taxes you pay can be used
for community improvements. Your business adds local color and creates an
opportunity for new innovation and development in the community.
Also consider
expanding your reach globally by donating, raising awareness, or even
volunteering to causes that are meaningful. Being a local business doesn't mean
your impact can't be felt all across the world.
Engage With Your Community
How
you engage with your community
determines the success of your business. By investing your time and resources,
you show you're prepared to give back to your community, and this builds
support. If you have a restaurant, try sourcing fresh produce. If you sell
products, try featuring locally made items. Serve on local boards, participate
in local events, and sponsor sports teams or causes that represent and build
your brand.
A Local Mindset
Knowing how to start and create a sustainable business that serves the needs of your local community also guarantees your success. And remember that there are needs in other localized parts of the world.
disABLEDperson,
Inc. is a 501(c)(3) charitable organization whose
mission is to reduce the high unemployment rate of individuals and veterans
with disabilities. For more information, please visit our website or contact us today!