Tired of your 9-5 job and not having enough time for your family?
But, what would you do if you had more spare time? Would you start a business?
So, what’s stopping you? Is it fear or financial pressure? Wouldn’t you be more fulfilled doing something you love?
Do you want to know how to make it happen?
Let’s talk about it:
The world is ever evolving and demands are mounting—which means, there are lots of gaps in the market. Thus, your idea CAN be the next big thing!
Exciting, isn’t it?
But, as nice as it seems it’s not easy going from Initiation (START) to execution (END). The hardest thing is to turn a dream into reality. So many boxes to tick and so much research to conduct. And if you’re not careful, this can make you doubt whether it will ever happen.
Trust me! I know what it feels like, I’ve been there. I’d exhausted every possible avenue you can think of. And frankly, I was fed-up.
If you are feeling how I did, you require some help:
Here’s my 10 step guide to help you kick start your dream:
Be sure of what you want to do. You cannot start a business blindfolded. It’s a recipe for disaster. The best way to start is with your talents and/or passions. By this I mean: things you are good at, enjoy doing and leave you fulfilled. Make a plan based on what you are passionate about.
Believe in your project. You are the main driving force for your brand. Therefore, you need to be obsessed with your venture—It should be what you breathe, talk and dream about. This will be your lead magnet to win over customers and keep pursuing when you hit turbulence.
Research. As great as your idea might be, you cannot soar without extensive research. Lack of preparation is never advisable. You need to find out the behaviours of your potential clients, such as, their shopping habits, needs and wants. This is called audience insights. You will also need to find out about your rivals. For example, how they conduct their marketing and engage with customers. This will make your business plan more robust and applicable. Because you’ll be focusing on needs rather than assumptions.
Be willing to take risks. To have a successful brand you’ll need to be able to take risks. Undoubtedly, setting up a business is a massive risk and there’s no guarantee that it will soar. But, you’ll need to go in all the way with caution and assertiveness.
Be willing to work hard. There will be many late night fact-finding missions, networking meetings, engaging on social media, etc. You will not succeed by being lazy or inconsistent. You’ll need to be preemptive and hardworking. Look at Steve Jobs. He was often turned down, but he never backed down because he believed in his vision for Apple. And as of today, Apple is one of the leading tech giants in the world.
Have a contingency plan. Coming from a nursing background, I am accustomed to formulating contingency plans because life doesn’t always go as you expect. To help with this, use your SWOT analysis. You’ll partially need to focus on the threats. As it’s from the threats, you’ll compile your contingency plan. However, if you’re stuck, here are few questions to ask yourself: What will I do if my business fails? How will I turn it around? What other strategies can I use? And will I continue or stop?
Please note: Your contingency plan needs to be robust and practical. I know you probably don’t want to hear this, but there are many entrepreneurs that have failed and had to deploy new strategies. An example of an entrepreneur that had to do this was the owner of Moonpig. However, he did not throw in the towel, he revived his idea.
Get help from startup companies. In the early stages, you’re going to need lots of help. So, use it! Examples of organizations that offer startup support include local councils, banks and libraries. They normally advertise in branch or online. Gov.uk also has useful information for start-ups.
Don’t allow fear to pull you down. False Evidence Appearing Real (FEAR) is a destiny snatcher. It will show you all the reasons you shouldn’t pursue your dreams. But don’t allow FEAR to dictate your future. You have the innate strength to block it out, especially if you have done all the necessary steps to move forward your project forward.
It’s not a competition. I know many books or articles you’ve read highlighted the importance of knowing your competitors from A to Z and try to outsmart them, which is true. But, it’s not about rivalry, it’s about your passion, because when you love something you will ensure it keeps striving. My advice: be your own competitor.
Learn from your failures. It would be misleading if I tell you that you won’t come across setbacks in your business, especially because demands and trends change rapidly. Research also found that around 75% of start-ups fail within the first two years of launch. The truth is, failure is inevitable. It’s apart of life. However, there’s lots of information out there to help you prevent failure. It’s also key to remember that every success story was resurrected from failures. So, embrace your downturns and use it to your leisure.
Mirror to mirror:
It is important that you understand that your business venture helps to showcase your uniqueness. Not everyone can do or come as far as you. In essence, you cannot be a successful businessman or woman overnight. The toiling needs to be vetted in the brand, which is why you should never accept ‘no’ as an answer. If someone doesn’t believe in your venture don’t waste time convincing them. Keep moving. As a wasted opportunity can never be replaced. You have to be ready, open-minded and passionate. Remain a student. Keep yourself updated with the latest trends and gadgets on the market. And whilst taking risks is important, don’t take unnecessary ones. Plan big and fail small.
And remember you have what it takes to be amazing.
Until next time…