Who to Talk to Before Opening a Small Business

In your excitement about your new business launch, you might want to jump right in and get started. But it may be better for your bottom line to have a few key conversations first. By talking to the right people, you can learn from them and gain their insights.  

Give your business a solid start this November, designated as National Entrepreneurship Month, by talking to these people who can help.  

A Prospective Customer

You may think you know what your customers will want to buy from you. Test your idea by talking to people who might be interested in what you’re selling. Does it solve a problem for them? How much would they pay? What aspects of your service or product matter the most to them? Do they seem excited about your business, or are they wary? 

What they can teach you: Their responses can help you decide if you need to do more research and development before you launch. 

An Owner of a Similar Business

Someone who’s in the same industry as you can share insights and challenges that might be hard to spot from the outside. If you’re worried about reaching out to a potential competitor, look for someone with just a bit of distance.  

For example, if you’re launching a newsletter for gluten-free information and recipes, talk to someone who has a dairy-free-themed newsletter. If you’re starting a business as a plumber, talk to an electrician in your area or a plumber from another location. 

What they can teach you: They can share mistakes they made first that you can avoid, tips for landing customers and managing bureaucracy and other information you wouldn’t know at the beginning.

A Mentor or Coach

As a prospective entrepreneur, you might have more experience with the product or service you’re selling but have less business acumen. That’s where a mentor or coach can come in. They can help you spot the areas you need to shore up before you launch and coach you on prioritization, so you’re poised for growth. 

What they can teach you: A business coach can offer advice for small business owners on getting your business off the ground and planning for growth. If you’re starting a business with no money, consider reaching out to SCORE for free business advice. 

Your Professional Partners

Even if you’re going at it alone, you’ll probably want to work with a lawyer, accountant and insurance agent. Don’t wait until you need a contract reviewed, have to file your taxes or start running a business from your home before connecting with these people. They can help you understand what to expect from their points of view. 

What they can teach you: These pros can help you anticipate needs and costs related to their fields, so you can plan for them. 

Talk to Farm Bureau, Too

At Farm Bureau, we’re experienced at helping small business owners. When it comes to who to talk to about starting a business, you can count on us to help you build your dream.