Working for yourself gives you the the freedom to set your own hours and build your work around your life and the things and people you love. I finally took the leap into working my business full-time and it is the most rewarding feeling. Your move may not be into sole entrepreneurship, but maybe you want to start your business on the side while you work a job. That’s great and that’s where I started.
But, here’s the thing. A successful business needs a PLAN! No it doesn’t have to be an official business plan so don’t let that be your excuse for not getting started. Get focused on some key pieces and you’ll be well on your way.
Here are five tips to get you on the right track to building a successful business.
- Figure out what you really love to do – Many people start a business because they want extra money. Then, when the money doesn’t come fast enough, they quit. Why? Many of them will burnout quickly because it’s not really something that they’re passionate about. There’s a difference between being good at something and actually loving what you do. Just because you’re good at it doesn’t mean you should start a business doing it. The bigger question is, do you LOVE IT. Would you do it even if no one paid you for it? Do you love talking about it? This where you begin to find your passion and decide what business you want to start. I love empowering women in life and in business. I did that for many years without getting paid for it because I love it. Now it’s a business and I get paid for it but I still love it and can see myself doing it for the rest of my life in some form.
- Solve a problem – Does your passion solve a problem for others? People spend money on products and services that solve problems for them. The problem needs to be a big enough issue that people want it solved and are willing to pay for it to get solved. Spend time researching your idea, see if it’s been done before and if anyone else has become successful at it. Typically if you find people already doing it, that’s a good sign and that means there’s profit to be made. What you have to do is discover how you can bring in a twist and put your special flavor on it to make it unique.
- Target your market – Get clear on who you see yourself helping, and then get a good picture of who that person is from every angle so that you can create products and services to solve their problems. When you zero in on the exact person you’re trying to reach, you will build your business and make a profit faster because you’ll know exactly what your target market wants. When your target is vague and broad … you’ll end up broke because it’s impossible to have a marketing conversation to everyone at the same time. Every segment has different needs and you can’t help all them at the same time so pick one segment and dig in deep.
- Surround yourself with like-minded people – When you’re starting a business, it’s good to be around people who get it. These are people who get what you’re trying to do. People who understand the sacrifices that you want to make to build and grow your business. Trying to talk about your business to friends and family members who are not entrepreneurs will block your potential every time. THEY DON’T GET IT so do not try to force them to. It’s NOT gonna happen. The entrepreneurial mindset is totally different compared to one who sees working for someone else as a way of life for the rest of his or her life.
- Get started now – Stop waiting for the perfect time to get started. The time is now. Do what you can with what you have and learn as you go. If you’re waiting on the perfect time, you’ll be waiting until doomsday. There is no “perfect” time; the time becomes perfect when you make a move in the direction you want to go in. It’s better to do something, make mistakes and learn from them rather than to do nothing and be in the same place next year this time still thinking, wishing and talking about your dream business with no results.
Have you been thinking about a lot lately and can’t get it out of your mind? Then, go for it. Your dream business is waiting for you on the other side of your comfort zone. Get started today.
Do you have a business that you want to start? Tell me about it in the comments below.