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How to start a business doing what you love and keep loving it

How to start a business doing what you love and keep loving it

When she was 22, Sophia Amoruso began selling clothes on EBay under the name Nasty Gal Vintage. At the age of 28, she had amassed $250 million. How did she do it?

Simply put, she took a culture that she loved–vintage, hip, girl culture–and made a business out of it. She continued being fresh and relevant to her audience of Millennials. She did this by staying true to herself as an empowered Millennial woman–a #GIRLBOSS.

Like Amoruso, you can take what you love and make it a business without sacrificing your love for it. But beware. The journey isn’t easy. It takes vision, courage, smarts, persistence, and organization. You may have to sacrifice some of your idiosyncrasies to appeal to a broader audience.

At first, you may feel a twinge about making money from a purely passionate activity. But ultimately, if you truly love what you’re doing, you’re giving something valuable to people, something worth more than money. You’ll keep adapting to make it fresh. The world, and you, will be better because you’re doing this.

Examine yourself

Do you really want to do this? Have no doubt. The reality is you’ll be embroiling yourself in the world of business; you’ll be taking what you love and attaching numbers to it. You need to make money to live. Are you doing it because you love it, or because you want to make money?

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Do what you love because you love it. The money will come because you’ve taken the right steps to make it a business. Making what you love into a business is just required for you to be able to do it all the time. The real question is: do you want to do what you love all the time? Of course you do.

Set your expectations

This won’t be easy and you won’t even necessarily make money. You can expect to take what you love to the next level. Your art will get better. Your writing will improve. Your people skills will flourish. Expect to excel at what you love. If you don’t find yourself excelling, keep at it. If you find yourself excelling, keep at it. This is what you love and you know it. You can expect to excel when other people know it, too. They’ll see what you love for what it is, like when people are immersed in a painting. You’re just a conduit for something truly independent of you.

Get down to the nitty-gritty

You knew this was coming: there are practicalities to making this a business so you can do it all the time. These things aren’t what you got into it for. They’re the necessarily evils of the system. Keep your eyes on what you love–but get the practical stuff right.

The Small Business Administration (SBA) has a gateway to the logistics of starting a business. You can use this as your push-off point. Here you’ll find advice and links on everything from how to start a business to hiring and retaining employees.

Determine your business structure. If you’re not going to have any partners—say you’re a visual artist—you’ll want to register as a sole proprietor. This simply means that what you do as an individual is your business in the eyes of the law.

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But say you’re in a band. Then consider registering as an LLC (Limited Liability Company). The LLC means each partner, or member, shares tax responsibilities. But any debts accrued won’t rest on your shoulders. Instead, they’re on the business as an entity.

Once you’re officially setup as a business, head over to the IRs site and get your Employer Identification Number (EIN) for tax purposes. You’ll also need to register your business with your state.

Prepare to accept payment

As a small business owner and an entrepreneur, it’s important to be able to monetize your work. If you’re selling your art, an EMV (Europay Mastercard Visa) card reader allows you to do so from anywhere. With a credit card reader, you’ll be able to take payment from the many people who don’t have cash and prefer a card. EMV is the evolution of the card readers you see on seller’s phones at farmer’s markets and concerts. EMV is now mandated by banks, because it reduces fraud. If you don’t have it, you may be liable for fraudulent card transactions.

Find funding

There are multiple ways to get funding for your business:

  • Crowdfunding—Kickstarter, Indiegogo, PledgeMusic, Sellaband, etc.
  • Competitions and grants—colleges, government organizations, trade organizations
  • Venture capital—MicroVentures, VCapital, FundersClub, etc for online; and see Wikipedia’s list of traditional firms
  • Microfinancing— Kiva, Accion, Opportunity Fund, etc.
  • Angel investors—angel groups, e.g. AngelList, Gust
  • Venture debt investors—firms such as Trinity Capital Investment and Kauffman Fellows provide financing even if you don’t have positive cash flows or assets.
  • Bank loans—most local banks have funding for their account holders

The type of funding you pursue will depend on the nature of your business. There’s all sorts of crowdfunding available for any sort of venture, but a site such as Kickstarter is best for artists who have a physical product to promise investors. If you’re going to take on venture debt, have a clear view on paying it back, or you’ll have to liquidate or declare bankruptcy.

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The SBA also may provide financial assistance to you if you:

  • Operate for profit
  • Are doing business in the US
  • Have some owner equity to invest

Try out the other options, including using your own assets, first

Overall, there will be funding for you if you’re willing to buckle down, do the research, fill out the forms, and go for it. Just make sure your business plan is in place before gunning for funds.

Do research and networking

As you’re preparing to start your business, and once you do start your business, talk to anyone you can find who has done something similar:

  • Access internet forums
  • Research local entrepreneurs and reach out to them on LinkedIn
  • Find Facebook groups
  • Look at their websites and physical locations
  • Send emails, introduce yourself, ask for advice
  • See about sitting down with them for coffee

Anything you can do to find a mentor will help you immensely. Mashable has a list of entrepreneur social networks for just this purpose. Ask about every stage of starting, maintaining, and excelling.

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Understand your brand and audience

The branding process is ongoing. Your brand strategy is essentially a roadmap for how you plan on adapting to an uncertain and volatile marketplace.

Your name is a big part of your brand. Like Sophia Amoruso, make your DBA (Doing Business As) name a reflection of what inspires you. In Amoruso’s case, it was funk singer Betty Davis’ 1975 album, Nasty Gal.

If what you love is art, you have a set of ideals. Your ideals are related to who you are, they’re related to your views, and they determine your aesthetic. Understanding your brand is a matter of identifying your aesthetic. Write it down in pencil so you can go back and change it. That’s because your aesthetic can, and should, change as you and your audience evolve.

Evolving with your audience is important. It shows you’re paying attention to what’s happening around you. It will also help you keep loving what you do, because evolution keeps things fresh and exciting.

Featured photo credit: Wikipedia( via en.wikipedia.org

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Dan Matthews, CPRP

A Certified Psychosocial Rehabilitation Practitioner with an extensive background working with clients on community-based rehabilitation.

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Last Updated on May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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