Starting Your Own Business is the best thing you can do. With the uncertainty of global economy, people losing their jobs and unemployment, it has become clear that the only way to live a better life is for you to be self-employed.
Start your own business by using the following tips.
Tips Of Starting A Business
Be Confident And Courageous
Many people dream of starting their own businesses but they never have the courage to start.
They are afraid of failing, losing money and time.
Being afraid is normal but you need courage to get started, otherwise you will never achieve your dreams.
“Courage doesn’t mean you don’t get afraid. Courage means you don’t let fear stop you” – Bethany Hamilton
When you feel like you are losing confidence, remember the amount of experience you have and how much time you have spent, most probably by working for someone else.
This is now your own business; you are building your own assets which can never be taken away from you.
Be A Problem Solver
Solve a problem – This is the biggest thing people forget, that’s what a successful business does. It solves a need that customers have.
a) Some people need to be fed: here you can start a business which is food related eg fresh food, dry food etc
b) others to be clothed (sell clothing which could be, casual clothes, smart clothes, sports clothes, sports shoes etc
c) some people need entertainment (sell mobile phones, TVs, musical instruments etc
d, some people need to travel (sell cars, bicycles, motorcycle or start a travel agent business e) some people need their lawn mowed.
It doesn’t matter what business you look at, you’ll find someone that needs your service.
Think of your business in this way; how many people’s needs can you solve and how much will they pay you to solve their problems?
Research on the problems your target customers have and how your business’ products or services can help them.
Have A Plan On Paper
This doesn’t have to be anything formal or extensive, but you need to write down your business plan. Think about the following:
- What are the startup costs? what are the ongoing costs? How much do you make per customer or unit?
- At which point do you break even or begin profiting?
- How do you intend to get new customers?
- How much time should you be spending on which task?
- What are the attainable goals you hope to achieve?
– Getting some of these basic business ideas and goals on paper make your business real and commit you to fulfill them.
Speak About Your Business
Your business starts with you, you need to speak it into existence.
Talk about your business with anyone who will listen. Everyone around you should know about your new venture and how you intend to hit it rich.
This serves two purposes –
first, you are the best billboard for your business, it exists with your trustworthy nature and everyone’s trust for you.
You need to be a walking billboard for your own success.
Second – it will hold you accountable. Everyone around you will encourage you, tell you they want you to succeed and they will be proud of you if you succeed. It commits you to succeed because there are no other option.
When l started my business, this is one of the quotes which kept me going whenever l was faced by obstacles:
“Live the Life of Your Dreams. When you start living the life of your dreams, there will always be obstacles, doubters, mistakes and setbacks along the way. But with hard work, perseverance and self-belief there is no limit to what you can achieve” Roy T. Bennett
Don’t Compare Yourself to Others.
Trying to compare your progress to other business owners who do the same thing as you can be very detrimental to your success.
You should always compete with yourself; are you achieving your goals; if not try to look for solutions to enable you to accomplish them.
If you have not accomplished your goals but you are progressing in other areas of your business, it’s okay as those other areas will eventually help you achieve your goals.
The beginning of every business is hard.
keep It Simple (do not over complicate)
Start small; you can tweak, become bigger, and better as you go along.
Do not include unnecessary features at the beginning as they could cost you a lot of money.
You could always add them later as your business expands.
Don’t Blame ANYONE when things are not going the way you expect.
In Business, some things will go wrong. Instead of wasting time and stressing about it, try to find out how you can correct them and then move on.
Have A Safety Net
If you are in a job, do not quit. Look for ways of doing your business after your employed job. It might take time for you to start earning a steady income.
Use your salary to fund your start up.
Do not give up without giving yourself enough time.
How long are you going to give yourself to achieve success in your business. If you think that it will take days, then you need to rethink.
Most businesses with long term flow of cash takes a minimum of 6 months while others takes longer than that.
As you build your business, there will be times when there will be drawbacks. This might just before your business explodes
“Pain is temporary. It may last a minute, or an hour, or a day, or a year, but eventually it will subside and something else will take its place. If I quit, however, it lasts forever. That surrender, even the smallest act of giving up, stays with me. So when I feel like quitting, I ask myself, which would I rather live with?” Lance Armstrong
“You’re going to find the people that make it work NEVER quit, quitting is NOT an option” Bob Proctor
Balance passion with wisdom
It is very likely that your first plan will be wrong, you’ll miscalculate something, you’ll overestimate how well something will work.
While keeping at the same plan is admirable and perseverance pays off – you also need to be smart enough to know when to rethink it.
Every great business owner faces unforeseen hurdles, and the ability to overcome hurdles is exactly what it will take to succeed in business.
So put your best plan into action and get to work, but keep your eyes and your brain open to better ways to do things and you’ll be ready for those hurdles.
Find something you enjoy doing – find something that you enjoy doing. Even the narrowest niche can succeed.
Anything can make money, so pick something that will make you money and make you happy while doing it.
You should try to manage your time wisely. At the early stages of your business, you will have a lot to do so that your business can be off the ground.
If you do not manage your time wisely you might end up doing either too little or too much such that you get a burn out. If you get a burnout, your productivity will go down.
Become An Action Taker
You can only be successful if you keep improving your business. You will go through a learning curve where you tweak your business along the way.
The journey of a thousand miles begins with a single step.~ Lao Tzu
That which we persist in doing becomes easier – not that the nature of the task has changed, but our ability to do has increased.~ Ralph Waldo Emerson
Invest In Yourself.
This is the best return on investment you can ever have. If you invest on learning materials in relation to your business, you will start generating revenue much quicker.
Pick a niche which you are passionate about. Dealing with a product you love will contribute a lot to the success of your business.
To leverage your niche business, find Affiliate products which you can leverage so that you can have passive income.
In Affiliate Marketing, money can continue coming in even when there is economic crisis.
Affiliate marketing is my business number one; why? Because there are thousands of products you could promote without needing to buy them, storing them or dealing with customers.
To learn How Affiliate Marketing Works and how you can get involved, I would recommend you to read this article:
This is what you will learn from the above article
✅How Affiliate Marketing Work
✅Stages Of The Consumer Buying Process
This topic is applicable to all niches. Understanding the Consumer buying process (also referred to as “The consumer decision making process”) from the minute they enter your website will be very helpful for the success of your business.
✅How To Start Affiliate Marketing Business
This is a step by step guide covering the whole process from finding an Affiliate product to making money.