Stop Playing: How to Start Your Business (A Boy Band-Inspired Guide to Starting a Business)

Stop Playing: How to Start Your Business (A Boy Band-Inspired Guide to Starting a Business)

Do you remember those carefree days when you played the Backstreet Boys while imagining your future? Well, for us Millennials, that future is now (or at least, it’s delayed). But unlike our teenage years, launching a business today requires a little more strategy than a handful of trust and a Lisa Frank trapper.

Fear not, fellow nostalgic entrepreneurs! This guide will provide you with a boyband-inspired guide to starting your own business.

Stop playing (with your heart or with your future):

First things first: is this business idea just a passing fantasy or a fire burning deep in your soul? Consider your experience, knowledge, skills and talents, the financial commitment you are willing and able to make, and how much element you can commit to the business. By considering these factors, you will be able to get a good idea of ​​whether your business idea has substance.

Everyone (needs a business plan):

Forget about relying solely on fleeting inspiration. Create a solid business plan that outlines your goals, target market, marketing strategy, and financial projections. Think of it as your roadmap to business success – there’s no room for “larger than life” dreams without a plan to make them a reality.

As long as you love me (but also do your market research):

Conduct extensive market research to understand your target audience, their needs, and your competition. A solid understanding of the competitive landscape will help you position your business for success. Remember, even the Backstreet Boys had competition from other groups like NSYNC and 98 Degrees.

I want it like this (but you need financing):

Be realistic about your financial needs. The process of financing your small business will take time, even for creditworthy applicants; So don’t wait until the last minute! Explore financing options such as bootstrapping, loans or finding investors. Be sure to carefully consider all of your options and choose the one that is best for your business.

Show me the meaning of being…your own boss:

Building a business requires effort, dedication, and the ability to wear many hats. There will be setbacks, but perseverance is the key. Channel the confidence of your favorite boy band member and never give up on your vision!

The University of Scranton Small Business Development Center is here to help! Our team of experienced consultants can provide guidance on goal setting, business plans and research. Visit www.pasbdc.org/scranton to request free business advice.

With a little planning, dedication, and maybe a Backstreet Boys playlist for motivation, you can build your business and tell the world, “I’ll be the one!”

Boy Band Bonus Track: Download our Stop Gaming and Start Your Business Worksheet to fuel your entrepreneurial dreams.