Before we jump right into it, bear in mind that you are not alone. In fact, given the new economic reality of our time, more people than ever before have found the “job” they thought was waiting for them doesn’t exist. Others have come to the conclusion that they would rather create 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.
Here are some tips for you to hit the ground running;
- Take a Stand for Yourself: If you are dissatisfied with your current circumstances, admit that no one can fix them except for you. It doesn’t do any good to blame the economy, your boss, your spouse or your family. Change can only occur when you make a conscious decision to make it happen.
2. Identify the Right Business for You: Give yourself permission to explore. Be willing to look at different facets of yourself (your personality, social styles, age) and listen to your intuition. We tend to ignore intuition even though deep down we often know the truth. Ask yourself “What gives me energy even when I’m tired? “How do you know what business is “right” for you? There are three common approaches to entrepreneurship:
- Do What You Know: Have you been laid off or want a change? Look at work 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.
- Do What Others Do: Learn about other businesses that interest you. Once you have identified a business you like, emulate it.
- Solve a Common Problem: Is there a gap in the market? Is there 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 and gain knowledge first before you spend any money. 3. Business Planning Improves Your Chances for Success.
Most people don’t plan, but it will help you get to market faster. A business plan will help you gain clarity, focus and confidence. A plan does not need to be more than one page. As you write down your goals, strategies and action steps, your business becomes real.Ask yourself the following questions:
– What am I building?
– Who will I serve?
– What is the promise I am making to my customers/clients and to myself?
– What are my objectives, strategies and action plans (steps) to achieve my goals?
4. Know Your Target Audience Before You Spend a Penny: Before you spend money, find out if people will actually buy your products or services. This may be the most important thing you 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? 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. However, the most important way to get this information is to ask your target market/customers directly and then listen.
Part II of this article will be published tomorrow. Sure you don’t want to miss out on it.
Until then, Have a beautiful Tuesday