What to Do in the Second Year in Business
Once the euphoria of reaching the end of your 1st year in business is over, it’s time to focus on the days and weeks ahead: The second year in business. After all, most newbies go through what I call the maze of mystery in their first year. Here are some of the questions we get from new clients:
1. What business can I start?
2. What can I do to make money?
3. Can I sell something? If so, what?
4. What kind of website do I need?
5. Do I even need a website?
6. Should I start a blog?
7. Can I make money with just a blog?
8. What do I do first?
9. Do I need a business license?
10. Do I need a resell license?
11. Do I need a business bank account?
12. Should I find a partner?
13. How much money do I need to start business?
14. What exactly do I need money for?
15. How long does it take to make money?
16. Can I really make money?
17. Is there a way to learn what to do?
18. What does it mean?
19. Why do people say it’s easy?
20. What do I need to do now?
By the Second Year in Business
By their second year, most startups have probably learned that some who offer web design services want thousands of dollars while others ask for much less. What’s the difference? Some have learned what they need offline even when starting a new business online. Most have learned the one thing all new business startups must have: Staying power.
It is easy to start a business online. But it’s not easy to keep going toward a money-making goal when it doesn’t happen in the first 90 days.
By now a new startup has probably learned that it does take some money. Even a homebased business enterprise requires a website or blog. That’s key in spreading the word beyond the local marketplace. It makes sense, and that’s why it’s a good investment.
With a few bruises under the proverbial belt, in the second year, a business person wants to avoid the big mistake. No one wants to waste another penny on poor choices. You want to stay current on changes, or subscribe to a newsletter that delivers updates to your inbox, or find a web coach.
Success Online Means Adapting to Changes
There have been changes online this past year: Google refocused on link authority. Some service sites have disappeared along with the investment users paid. Web hosts have added competing services. Some site have done a job of spinning the truth. Hackers ruin sites. Spammers seem to have quadrupled. The government tried to add tax. Social media has gone up while people’s privacy has gone down.
The good news is that opportunity to make money continues to thrive. What’s one opportunity a successful 1st year business can take in their second year? Connect. Yes, a small business wants to form a connection, alliance or friendship with other small businesses.
It’s not exactly social media, it’s social but what I mean is slightly different. It’s a way to learn from a business who is higher up on the experience ladder — and return the favor.
2nd Year in Business Goals
The goal in your second year is two-fold:
1. Find a dozen small business sites who have been in business at least two years or more. Reach out. Introduce yourself. Ask for advice. Send thanks.
2. Turn right around and find new startups who can benefit from your experience. Don’t preach. Teach. Reveal what you did wrong. How you fixed it. What you did right. What the outcome was.
With success comes responsibility. Be a student and a teacher.
Find free mentoring, web coaching and affordable creative services at DM-Creative.com — Do you agree or disagree with this post? Let us know. Comment below.
- How to Stay Motivated After a Startup Failure(alleywatch.com)
- A 30 Point Checklist for Your Startup(smallbiztrends.com)
- What NOT to Spend On In Your Startup(smallbiztrends.com)