How to get started
Starting a business is a process that requires an enormous amount of thought and careful examination. First, you need to take a good look at your strengths, weaknesses and skills. This will allow you to start thinking about what you can do and what you cannot do. It is important to start here even if you already have world’s best business idea, because you might not have the skills or personality traits to enable you to make it into a successful business. You want to come up with business ideas where you are naturally best suited to be successful.
Before you start a business, you should be clear about why you are doing it. That may sound obvious, but there are many reasons why someone should choose to turn their back on the security of a job and career for the uncertainty of starting a business. So, the clearer you are about what exactly you are trying to achieve, the better chance you have of achieving it. Understanding what is driving you to start a business is a major factor in determining what type of business you should start. Why? Because when a business you start isn’t aligned with personal ambition, it is much more likely you will fail.
You should make sure from the beginning that your personal goals and drive are compatible with your business. It is important to understand why you are starting a business so you can focus on business ideas that will help you get to where you want to go.
Is there a market for the business, product or service and is it big enough to support your goals? You should also consider the competitive landscape and know who your main competitors are. Analyse what their and your weaknesses and strengths are, as well as market opportunities and threats. You want a clear idea of the overall market and how your business would fit into it.
Once you’ve decided to take the plunge, lets look at the first few steps to take.
· Business Name – What will you call your business?
· Premises – Will you require premises? If so how will you fund this? *My advice start SMALL*
· Create pricelists
· Set up Social Media accounts, Facebook, Instagram, Twitter, LinkedIn, Google+
· Ask family and friends to like and share your social media posts
· Create a competition or giveaway to generate attention
Next week…. How to use Social Media to your advantage
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