It doesn't take a genius to have a brilliant business idea. Many people have excellent ideas every day. Yet, only a brave few dare to leap in and start that thrilling entrepreneurial journey.
If you are thinking about leaping in head first, and are ready to turn your idea into reality, here are some things you should keep in mind.
1. Validating your idea
Before you start your business, you need to do some research.
Find out who are the people who will buy from you. Find out if what you are offering is a solution they would be willing to pay for.
Evaluate the competition that already exists in the market. Figure out the challenges they may be facing.
2. Develop a Plan
When you start, there is no need for a fancy bonded document. Instead, you could think of it as an informal plan.
Create a vision of what you see your business doing. Then develop a picture of the different processes you will employ.
How will customers buy from you?
What steps will they need to take?
How will they provide feedback?
Where will you get supplies from?
Will you need a bank account to do this?
How much will all this cost you?
How much money can you expect to make?
Ask yourself practical questions like these; to help you design your business operation and money flow.
Remember, all you need is a clear idea to work towards.
3. Build/Seek a Strong Support Network
Entrepreneurship can be a long, lonely road if you need adequate support. When you get started, seek-out mentors, advisers, and other like-minded individuals who can help by providing guidance, advice, and new ideas.
Seek people who can help to challenge your ideas too.
Step out of your comfort zone. Join online communities and local organizations such as NIME, BELTRAIDE, and others.
These are filled with people who are on a similar journey as you.
4. Develop an Execution Strategy
You have a plan, a clear idea of what you must do.
Now it's time to break it down into smaller pieces and set deadlines to help keep you on track. Be accountable and track your progress every step of the way.
Remain flexible and open to change.
5. Build a Minimum Viable Product/ Develop Your Portfolio
Whether you build a product or offer services, you must show people what you can do. This is the only way they can observe your idea and give you genuine feedback.
A portfolio or MVP allows you to test your idea, gain feedback and attract your first customers.
6. Establish Strong Partnerships
In the business community, partnerships make a world of difference.
One of the best ways to get started is by identifying other businesses you can bring value to, then reaching out to them to collaborate.
When you select partners, please ensure they align with your long-term business goals.
7. Embrace Continuous Learning
Entrepreneurship requires being dedicated to continuously growing and learning.
Stay curious and open to new ideas.
Push yourself to try new things and take risks. Invest in developing your skills. Embrace learning from both successes and failures.
8. Tap into Digital Marketing and Build Your Online Presence
Today, it's easier to reach massive amounts of people. But it is also more challenging to keep their attention.
You can learn about digital marketing and how to use it to boost your business.
Or you can find partnerships with professionals who can help you with your online presence. www.gigged.bz is a great place to start looking for the type of people with the expertise to help.
Please take advantage of social media platforms and use them to build relationships and differentiate yourself.
9. Stay Resilient
Any business owner you speak to will tell you that building a business is a long process filled with ups and downs. Remain resilient.
Learn to change your approach and adapt to changes instead of quitting.
When you make it, your resilience becomes a teacher of methods that work and methods that don't. Learn from the failures. Use them to make you stronger.
Conclusion
Remember that going from idea to business takes time. It requires thoughtful planning and execution. It's not an easy journey, but it is a trip guaranteed to change your life.
If you are considering leaping into entrepreneurship, keep these things in mind. Not as a way to discourage you. But instead, could you use it as guidance to help you be prepared for what's coming?
Although from my own experience, no matter what you already know when you start, nothing prepares you for the challenges and rewards of being a business owner.
The challenge
This week I challenge you to share this post with someone too scared and overwhelmed to get started.
If you read this as an already established business owner, which would you say was most important? Or what would you add to the list? Comment below :)
About GiggedBz
Being an entrepreneur or managing a household can be very stressful. Somedays you really just need some help. And I'm sure we can agree that good help is hard to find. This is why we made, Gigged.bz.
