5 Things to consider before starting a business
Starting a business can be very exciting and also very easy to overlook things. Here are the 5 things you should consider when starting a new business.
1. Define your audience: To define your audience is to take a closer look at what problem your business solves who benefits from using your products/services. Your audience may be classified by age, gender, location, interests, income, or countless other factors. Knowing who/what you’re dealing with is always a bonus.
2. Make your first sale: The best way to find out if your product/service is a good idea is to see who is going to buy it. Getting that first sale will provide great insights that you can use to further define your audience and how to illustrate your brand. I recommend this almost to anyone who informs me about starting a new business.
3. You don’t need a website: This shouldn't be the first thing you want to do! Spending countless hours creating a website or paying someone to do it can lead to a lot of wasted time. Instead, focus on building a portfolio and learning more about your industry. Once you have defined your audience and generated your first few sales is probably a good time to look into a website.
4. Take it slow: Do not rush to conclusions, plan out what's on your mind and set yourself realistic goals. You don’t need to quit your job or start paying someone to market your brand immediately. A person with a strategy will succeed over those who decide otherwise no matter how smart one is.
5. Motive vs Drive: Ask yourself what is the difference between motive and drive? Motivation is something you consistently need, whether is your paycheck or a compliment. Drive is what got you there in the first play, it is what defines your standards. Now ask yourself this, are you motivated or driven? What is the reason behind wanting to start your own business? Don’t let yourself down!
If you already knew or have done these steps already then you’re ahead of most. You would be surprised how many burn themselves out before they even reach their desired goals. Like I said starting a business can be very exciting. While at it, you will face many challenges and that is why it's important to stay consistent and follow a plan, even if it's a simple plan.