Tobi OluwatoyinAre you thinking about how to start/starting a business but you don’t know where or how to start, don’t worry —you are not reading the wrong article.
Meanwhile talking about the new economic reality of our time, more people out there probably have found the “job” they thought was waiting for them doesn’t exist. Others have come to the conclusion and make a decision that they would rather create the work they love, constructed to fit with their own life goals. No matter what the motivation is to be your own boss, you can start today.
See These 8 Tips to Get You Started:
1. Take a Step.
Weather you are dissatisfied with your current circumstances or feel it’s been uneasy lately, one thing you should admit is the fact that no one can fix them except for you. It doesn’t do any or much good to blame the economy, your boss, your spouse or your family. The change you seek can only occur when you make a conscious decision to make what you really have in mind happen.
2. Identify The Right Business.
You must give yourself permission to explore. Always be willing to look at different facets of yourself (your personality, lifestyle, age) and listen to your intuition. We tend to ignore intuition (common sense) even though deep down we often know the truth. Ask yourself “What gives me energy even when I’m down or tired?” How do you know what business is “right” for you? There are three regular approaches to entrepreneurship:
3. Do What You Know Best:
If you really want a change, Look at things you have done for others in the past and think about how you could package those skills and offer them as your own services or products.
4. Do What Others Do:
Learn about other businesses that interest you. Once you have identified a business you like, emulate it and bring the best out of it.
You can also decide to solve a common/general problem. If there’s a loop in the market, If there’s a service or product you would like to bring to market, (Note: This is the highest-risk of the three approaches.) If you choose to do this, make sure that you become a student once again and gain knowledge first before you spend any money. Make sure you learn as much as possible as learning brings the best out of your business. “
5. Plan: To Increase Your Chances for Success.
Most people don’t think about planning, but it will help you get to market faster. A business plan will help you gain clarity, focus and confidence. A good plan does not need to be more than one page. As you write down your goals, strategies and action steps, your business becomes more real and progressive.
Questions you should ask yourself :
–What am I building?
–Who will I serve?
–What promises am i making to my customers/clients and to myself?
–What are my objectives, strategies and action plans (steps) that can help to achieve my goals?
6. know your target audience.
Before you start to spend money, find out if people will actually buy your products or services. This may be the most important thing you need to do.
You can do this by validating your market. In other words, who, exactly, will buy your products or services other than your family or friends? (And don’t think. “Everyone in my State or country will want my product.” Trust me —they won’t)
- What is the size of your target market?
- Who are your customers? Is your product or service relevant to their everyday life?
- Why do they need it?
There is industry research available that you can uncover for free. Read industry articles with data (Google the relevant industry associations) and read Census data to learn more.
However, the most important way to get this information is to ask your target market/customers directly and then listen.
7. Understand Your Personal Finances and Choose the Right Fund for Your Business.
As an entrepreneur, your personal life and business life are interconnected. You will be your first—and possibly only investor. Therefore, having a detailed understanding of your personal finances, and the ability to track them, is an essential first step to take before seeking outside funding for your business.
This is why I recommend setting up your personal accounts in a money management system such to simplify this process. As you are creating your business plan, you need to consider what type of business you are building—a lifestyle business (smaller amount of startup funds), a franchise (moderate investment depending on the franchise), or a high-tech business (will require significant capital investment).
Depending on where you fall on the continuum, you will need a different amount of money to launch and grow your business, and it does matter what kind of money you accept.
8. Build a Support Network.
Now that you’ve made the internal commitment to your business. You need to cultivate a network of supporters, advisors, partners, allies and vendors. If you strongly believe in your business, others will, too.
Network locally, nationally & via social networks. Join networks like NAPW.com, your local chamber of commerce, or other relevant business groups.
Here are some networking basics:-
- When attending networking events, ask others (people you meet) what they do and think about how you can help them. The key is to listen more than tout yourself.
- No matter what group you join, be generous, help others and make introductions without charging them.
- By becoming a generous leader, you will be the first person that comes to mind when someone you’ve helped needs your service or hears of someone else who needs your service.
9. Sell By Creating Value.
Even though we purchase products and services every day, people don’t want to be “sold.” You need to focus on serving others. The more people you serve, the more money you will make.
When considering your customers or clients, ask yourself:
- What can I give them?
- How can I make them successful in their own pursuits?
This approach can help lead you to new ways to hone your product or service and deliver more value, which your customers will really appreciate.
10. Get the Word Out.
Be willing to say who you are and what you do with conviction and without apology. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news.
Use social networks as “pointer” sites; i.e., to point to anything you think will be of interest to your customers, fans and followers.
Even though social networks are essential today (you must use them!), don’t underestimate the power of other methods to get the word out: ranging from., word-of-mouth marketing, website and internet marketing tools, public relations, blog posts, columns and articles, speeches, e-mail, newsletters, and the old-fashioned but still essential telephone.
If you take these steps, you’ll be well on your way to becoming your own boss. It’s important to remember that you are not alone. If you want to “be your own boss” but you still feel stuck, reach out and connect with other entrepreneurs in a variety of ways. You may be surprised by the invaluable contacts that are right at your fingertips.
Hope this article helps you.
