Starting a Business While Living With Disabilities
4 Steps to Starting a Business While Living With Disabilities
The early stages of forming your own company are stressful enough on their own. Navigating those stressors while living with a disability invites even more unique challenges, but knowing what steps to take and what resources are available to you can make the process far more manageable. Here’s some helpful advice, from author Catherine Workman of wellnessvoyager.com
Have a Detailed Plan
The most effective step you can take in the earliest stages of your venture is to formulate a comprehensive plan for your business. This proposal will act as your company’s blueprint and should describe what products or services you provide, how the customer obtains them, what sort of profit the business can expect, and how much money will be needed to set up and maintain each aspect of the organization. A business plan is your guide to starting a new company not only during your firm’s formation but will demonstrate to potential sources of funding whether your idea is worth investing in.
While constructing this early plan, Company Bug notes to consider what sort of space your business will require, if any. Smaller, online shops may not require much more than a storage room and a home office, but renting or purchasing a physical structure for a larger operation has its own set of complications. Different regions have different legal requirements for every step of this process, so Cafe Progressive suggests making sure to conduct extensive research regarding local laws and regulations and consult professionals when necessary.
Obtain Funding
The more in-depth and realistic your business plan is, the easier it will be to secure funding. Financial institutions and private investors alike can be solicited to provide you with starting capital, typically in exchange for a larger return on their investments later on. There are both private and government grants available for business owners with disabilities as well, both those looking to start a new company and those seeking assistance with an existing one. Depending on the disability, advocacy groups may also have assistance to provide, fiscal or otherwise.
If you intend to seek funding from lenders, pay attention to your credit report. If there are any issues on it, you may want to take care of them before seeking funding. Lenders will use the information on your credit report to determine your loan eligibility.
Build Your Staff
With the formation of the business itself underway, you’ll likely need to start staffing soon unless your services can be provided without assistance. While recruiting talent, consider forming a management team that can run the day-to-day operations unsupported when necessary. This can help to accommodate any mobility issues or fatigue that may come with your disability. This capable crew can take care of your company while you take care of yourself.
Advertise Your Services
Funding has been secured, employees have been hired and the facilities are under construction. All that’s left is to get the word out before your grand opening. If it’s within your budget, strategic advertising online and in local publications is an effective way to let your entire community know you’ll be ready for their patronage soon. A more affordable but labor-intensive means of advertising is to print and distribute fliers. While you typically get what you pay for, certain forms of online ads can run a business over $100,000 a year, so be sure to find the method which is most cost-effective.
The twofold challenge of starting a business while living with disabilities may seem doomed before it ever truly begins, but knowing the most important strategies for success and taking help where it’s available can make it infinitely more manageable.
Wyoming Services for Independent Living continually increases opportunities for individuals with disabilities to live as independently as possible. Contact us today to learn more!
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