So you want to start a WordPress business. That\u2019s exciting! If you have to work in a single platform all day long, I\u2019d say WordPress is a great one to be “stuck” inside of.<\/p>\n
Aside from the benefits of working in an intuitive platform that comes chock-full of integrations that make your job easy, you\u2019re also about to make the leap into starting your own business. Kudos to you for making some bold life choices.<\/p>\n
Wikipedia: Bootstrapping in business means starting a business without external help or capital. Such startups fund the development of their company through internal cash flow and are cautious with their expenses.<\/p><\/blockquote><\/div>\n
While all of this is very exciting to think about, I\u2019d urge you to take a moment to look at the bigger picture. Yes, in starting a WordPress business, you now have the power to pick and choose your clients, set your own prices, and maintain a better work-life balance.<\/p>\n
But no matter how “free” you feel after deciding to ditch the 9-to-5 to start your own business, there are some practical considerations to keep in mind when you want to bootstrap your own business, like initial startup costs, preparing taxes, finding clients, keeping yourself accountable, and so on.<\/p>\n
None of this is meant to deter you from starting a WordPress business. On the contrary, I think we need more WordPress professionals dedicated to making the web a better place for us to live and work in. I just want to help prepare you for the obstacles you might encounter along the way.<\/p>\n
A Practical Guide to Starting a WordPress Business<\/h2>\n
Starting a WordPress business is exciting stuff. But if you\u2019re working without a budget or support, it\u2019s going to be tough going at first. That\u2019s just the nature of starting a new business.<\/p>\n
So, in order to safely navigate these choppy waters until you\u2019ve got a large, stable client base, you\u2019ll need to be resourceful to start, using what you have (and not much more) to get your business up and running.<\/p>\n
Here are some practical and cost-friendly tips to hold onto as you trudge forward:<\/p>\n
Crunch the Numbers<\/h3>\n
Before you start thinking about the company name or internal processes you want to create, a cost assessment needs to be your primary focus. While it may seem like there isn\u2019t much here to worry about, especially if you\u2019re operating out of your home and with your own computer, there are other factors to consider.<\/p>\n
Tip #1: Tally Up Likely Expenses<\/h4>\n
There are a number of not-so-hidden costs that can easily be missed if you\u2019re caught up in the excitement of a new business venture. Don\u2019t wait until a surprising business expense crops up that forces you to shell out your own money. Plan for the predictable costs ahead of time. Startup and ongoing business expenses include, but are not limited to:<\/p>\n
\n
- Office rental fees<\/li>\n
- Health insurance<\/li>\n
- Business insurance<\/li>\n
- Job-related equipment (e.g. computers, phones, printers, software)<\/li>\n
- Business taxes<\/li>\n
- Marketing expenses<\/li>\n
- Payment processing fees<\/li>\n<\/ul>\n
Tally up the costs you know you\u2019re going to be responsible for, and then determine whether or not you\u2019ll still have enough money left over to support yourself until a steady pipeline of clients or financial backing makes its way to you.<\/p>\n
Tip #2: Work Out Timeframes<\/h4>\n
While the tangibles are easy enough to keep track of, you also need to think about ramp-up time, too. How much time will you reasonably need to get your business fully up and running? This isn\u2019t something you can easily do overnight, especially if you\u2019re running this ship alone, so you\u2019ll need to know how that stretched-out launch will affect your ability to turn a profit.<\/p>\n
Tip #3: Plan Your Business Launch<\/h4>\n
On a related note, consider what you\u2019ll need to do to supplement your income in the meantime. Will you need to split time between a full-time job and the part-time work needed to build your business? At what point will it become too difficult to manage where you\u2019ll have no choice but to break away from the steady paycheck? And, finally, will you be prepared to fully support your WordPress business at that point?<\/p>\n
If you don\u2019t have one already, create a reasonable timeline for your business launch.<\/p>\n
Tip #4: Examine Your Savings<\/h4>\n
Most business owners don\u2019t go into launching a new venture lightly, which means it\u2019s very unlikely to find someone who\u2019s totally unprepared to pay out of pocket for their expenses at first. That being said, you never know what might happen and if your savings can cover you in a worst-case scenario. If worse comes to worst, do you have friends, family, or colleagues who could lend you money or provide support until you\u2019re up and running again?<\/p>\n
Tip #5: Can You Scale Up?<\/h4>\n
Although scaling your WordPress business is probably a long way\u2019s off, it\u2019s still something that requires consideration now. Based on your business model as well as your ability to fill the roles needed to effectively run your business, you might need to hire outside assistance before your business is successful enough to scale. If that is the case, can you afford to pay for additional assistance or should you trim back your initial business concept so that it\u2019s more manageable in the short-term?<\/p>\n
Establish a Business Plan<\/h3>\n
This is the part where many first-time business owners get caught up because it\u2019s the most fun. You\u2019re shaping your business\u2019s identity and putting together a plan of attack. What\u2019s not to love? Just make sure you cover all your bases before moving on.<\/p>\n
Tip #6: What is Your Value Proposition?<\/h4>\n
Every business needs to have a unique value proposition. Granted, if your business revolves around a WordPress service or solution, it\u2019s obvious that the value you promise to deliver has to do with a better experience using WordPress. However, there are a lot of WordPress professionals you have to compete with. You need a solid business idea that\u2019s going to help you stand apart from the rest.<\/p>\n
Tip #7: Build Your Website<\/h4>\n
This one\u2019s easy. Before you get too far into planning, build your own WordPress website. It should be reflective of the kind of work you plan to offer your clients.<\/p>\n
Tip #8: Put Processes in Place<\/h4>\n
Starting with the process you used when building your website, develop a process you can adapt for your business\u2019s workflows (be that in writing, development, SEO, whatever). The last thing you\u2019ll want to do is “wing it” with your first few clients and to rely on inconsistent methods that tell you very little about what does or doesn\u2019t work.<\/p>\n
Tip #9: Establish Business Goals<\/h4>\n
Before you launch, establish goals for your business. These goals will not only help ease you into this new business but will also help you track how close you are to meeting your financial goals. Ask yourself the following:<\/p>\n
\n
- How many clients can you reasonably handle to start?<\/li>\n
- How many clients do you want in six months? A year?<\/li>\n
- What is your revenue goal\u2019s worst and best case scenario for your first year?<\/li>\n<\/ul>\n
The most important thing to keep in mind is that once you set these goals, you shouldn\u2019t allow yourself to compromise on them. The goals are here to keep your business on track and your profit in the black.<\/p>\n
Tip #10: Set Your Pricing<\/h4>\n
All of the work you\u2019ve done up until this point should make the process of setting pricing for services a breeze. By knowing what your ongoing business expenses are, when you\u2019ll be in a position to hire help, and how much money you need to break even, you can set pricing accordingly. I\u2019d also suggest you check competitor pricing too to ensure yours doesn\u2019t ride too high above or below the mean.<\/p>\n
Practice Makes Perfect<\/h3>\n
Alright, so with the cost analysis and business plan in place, you\u2019re ready to launch, right? Well, maybe not just yet. If this is your first time doing any work like this in WordPress, you\u2019ll want some relatively risk-free projects to play with. The more you practice, the more high-quality work you\u2019ll have to include in your portfolio as well.<\/p>\n
Tip #11: Practice on Family and Frieds<\/h4>\n
Offer your services for free to a friend or family member. Although they may not be as difficult to work with as a client, this\u2019ll give you a chance to sort out kinks in your process and figure out the best way to merge clients\u2019 preferences with web design best practices.<\/p>\n
Tip #12: Build Out Your Portfolio<\/h4>\n
Build your church\u2019s or some other non-profit\u2019s website for free. Again, you need practice and<\/em> sample websites to add to your portfolio, so take whatever opportunity you can now to get this right.<\/p>\n
Tip #13: Do Open Source Work<\/h4>\n
Get involved in open source projects to practice your skills on, learn new ones, and have more work to show off.<\/p>\n
Get Help<\/h3>\n
Even if you don\u2019t have the money to splurge on new hires or premium software, you\u2019re going to need help when starting a business. No matter how much you want to try and do this on your own, you\u2019ll find it difficult to do that if you don\u2019t at least have tools in place to lighten the load.<\/p>\n
Tip #14: Get a Routine<\/h4>\n
One of the best things you can do for yourself as a business owner is to establish a routine for yourself. Checklists, schedules, and other productivity enhancing tools<\/a> are necessary for ensuring that you stay on top of everything regardless of how much stress or chaos surrounds you.<\/p>\n
Tip #15: Build in Automation<\/h4>\n
Automation is essential to increasing productivity and efficiency in any job. While it\u2019s very unlikely you can automate and outsource your entire job, there are small pieces of it that can be allocated to software to ease your load. Think about things like prototyping software, writing tools, SEO checkers, mobile-friendliness tests, and so on.<\/p>\n
Tip #16: Focus on “Free”<\/h4>\n
Considering you\u2019re running a WordPress business, you should definitely take advantage of the tools and integrations available through the platform. WordPress themes<\/a> and plugins<\/a> are the first place you should start. Use the WordPress directory to find high-quality ones for free<\/em> until you can reasonably afford to pay for premium memberships.<\/p>\n
Tip #17: Take on an Intern<\/h4>\n
If you\u2019re still worried about being strapped for time and can\u2019t afford to hire anyone to help just yet, look into bringing on an intern. You can check with your local university or college and see if they have web design, development, or writing students who would benefit from getting first-hand experience working in WordPress.<\/p>\n
Market Your Business<\/h3>\n
This last suggestion has been covered on the WPMU blog before, but it\u2019s a good one worth reiterating.<\/p>\n
Tip #18: Get Your Name Out There!<\/b><\/p>\n