Q: I’m currently employed, but would like to start my own business. I’m not certain what my first steps should be. A: Congratulations on your decision to embark on this exciting chapter in your professional life! Research, planning and networking are three key elements to starting a business that will grow and flourish consistently. Research your chosen industry and also current business practices. Advances in technology and communication occur almost daily. Business practices once considered the norm quickly become outdated as new developments occur. Review web sites and publications of established businesses in your field. Take note of everything from the style and content of their web site to the methods of marketing they use, the number of employees they have, and even their geographic location. Newsletter, blog and magazine subscriptions from industry and business leaders will become invaluable information resources. These will keep you current on trends that affect your industry and efficient performance methods for basic business functions. Put your plans in writing. You can always revise them. When you write your ideas and plans down, they become clear-cut. A business plan, marketing plan and budget are three of the most important business documents your company will utilize on a regular basis. A business plan works like a road map. You set your destination (goal), and then you determine the path you’re going to take to achieve your goal. A marketing plan will help you stay on track with the promotion of your company. It also works well in conjunction with your budget because it will keep you aware of your ROI (Return On Investment). This, in turn, aids in keeping your expenses low as profits increase with targeted marketing practices. Connect with others in the business community and in your profession. Networking with others is an excellent opportunity to learn more about your industry, develop contacts and resources, and solidify your own ideas about the direction you wish for your new business. Each networking situation gives you the ability to learn more, and develop more confidence in your own ideas and goals. It’s important to remember, though, that networking is as much or more about giving as it is about receiving. Approach each networking opportunity with an open mind and an open heart. Move forward with confidence and never lose sight of your goal. Developing and maintaining a business is hard work, but you can do it!