Do you know how to build a business from scratch? It can be pretty straightforward. I am a product of an entrepreneurial gene pool that was able to build businesses from scratch. But, unfortunately, some of us didn’t have mentors who gave us the needed skills to build a business from scratch. I can surely tell you that for me, having a mentor with me during my formative years made it much easier to learn how to build a business from scratch.
Finding a Keeping a Mentor Can Be Challenging
There are plenty of great mentors out there to learn from them. But if you are relatively new in the business, finding and keeping a mentor can be challenging. For example, when I started, I didn’t have a mentor. So I had to locate one on my own, and this could be a daunting task for someone just starting.
Fortunately, there is a way to build a business from scratch without a mentor. You can do this by creating a solid business plan. If you don’t understand what a business plan is, it is a blueprint for your business, detailing every step of how you will build it from ground zero.
You Need a Solid Business Plan to Succeed
Without a good business plan, you have no direction. You can spend endless hours theorizing about what type of business you might create. You can ask others for advice. But without a business plan, you are like ships sailing aimlessly across the sea.
Having a good business plan in place also makes it much easier to get funding. Most banks are afraid to loan money to start-ups because they don’t see any future profit. But if you have a good business plan, they know that you will make money and repay the loan. And with that much confidence, you are much more likely to get a loan. So it makes perfect sense that if you want to build a business from scratch, you need to have a good business plan.
So How Do You Build a Business from Scratch?
The simple answer is to follow the same business plans that you would follow starting a new business. Then, find a mentor (an owner who has already built a business), and learn everything you can from that person. Also, find someone who has a business similar to what you want to develop. That way, you can model their success and learn from their mistakes. You will build a business from scratch much faster when you have a great business plan in place.