Many are those who long for a business of their own. But sometimes one doesn’t know within which field – or when it’s time to make that leap. If you feel that running your own business might be for you, but you don’t know where or how to begin – here are 5 tips to get you started.
What do you want – and why? It’s easy to start daydreaming during a dull day at work. But merely feeling frustrated over your current situation will eventually kill your creativity. Instead, focus on what you really want instead. What are your driving forces behind potentially starting a business? How would you like your new life to be?
Build your knowledge! Your business idea needs to be grounded in reality. What does the market look like? What are the needs for your service or product? What makes your offer unique? Get input from potential customers, knowledgeable friends, family members or experts. Find several devils advocates who critically can analyze your concept.
Think big already from start… Build a long-term company vision that feels challenging and exciting. How would you like the company to grow? Which different revenue sources will you be able to create in the future? Which position would you like for yourself?
… but dare to narrow things down. Clearly define your offer and your target group. It’s OK not to sell to certain customers: it’s better to be “everything for some” than “nothing to everyone”. Being clear and limiting your offer also makes it easier to sell and to work efficiently.
Build for success. Make sure that your decisions are substantiated. That you have – or will get – the competence you need. That you outsource stuff you don’t have the time or knowledge for. Think about which pieces of the puzzle are missing: what do you need to succeed? Straighten out every question mark at an early stage. Get started on your business plan.
Running a business of your own is amazing, but requires loads of time, energy and commitment. How much do you really want to be an entrepreneur – and what are you willing to sacrifice? If the equation ends up on the plus-side, it might be time to press the start button!