I never thought that the decision to have a happier life would lead me to entrepreneurship. We often stop at desires and dreams without ever realizing them, because to act is to accept that we may fail. Yet, starting your own business is the best way to build something meaningful, to earn a good living and to be completely independant! It has never been easier to create your own business. Once you know that you want to be your own boss, you need to develop your battle plan. Here are 5 simple and easy steps to start your own business.
Make sure entrepreneurship is what you really want.
Are you really ready to commit to your future business? Are you ready to do whatever it takes to succeed? You need to know that starting a business will require dedication and sacrifice. You may have to work long hours, cut down on personal expenses or take out a loan, for example. If you have the motivation, the rest will follow.
Create something you can sell.
Choosing your idea is probably the most important decision when starting a business. If you can’t solve a problem for your market, you aren’t going to make any sales large enough to sustain a business. It’s that simple. It is absolutely crucial and will have a direct impact on your chances to succeed. Many people make the mistake of thinking that in order to be successful on a large scale, a business idea must be a completely new concept, for example a high-tech device or an application meeting a completely new need. But this is not true! There are an infinite number of business ideas that have already enriched thousands and thousands of entrepreneurs. Don’t hesitate to devote a lot of time to this first step.
Differentiate your business and create your strategy.
First, you need to answer this question: Who am I targeting and why would they do business with me instead of my competitors? It is essential to have a clear answer to this question. Many entrepreneurs fail because they don’t think this particular step through. You have to be unique! Try to find your own target audience and your own niche. Identify your target audience’s painting points and approach them in a remarkable way, knowing that you will be interested in them.
Write a business plan
You have to bring together all the key strategic decisions you make about your business, including: your target market, your competition, your differentiation, your team, and the way you operate. It is extremely important to know who your target market is and how you are different from your competitors. Why write a plan even if you are the only person who works in the business? Because it forces you to answer critical questions that you must not ignore if you want to have a strong chance of success. It doesn’t have to be long.
Find out how much money you need and how to get it.
You need to know how much money you need to start your business and run it for a few months. There are many options a business manager can consider when looking for outside funding. My personal advice is to talk to your family and friends first. Then, for a strat-up, I would turn to business angels.
To be successful in business, it is not enough to work hard and be lucky, it is also necessary to make the best decisions from the very beginning. Have you ever thought about becoming your own boss? Launching your business online?
