Many people dream about their own company, but they don’t know much where to start their own business. Some start from the website, others from business cards. Today we suggest where to start running your own business – practically and strategically. How to start a small business?
What is your business idea and how will your business earn?
What exactly is your company supposed to do for others? For example, if you set up a marketing agency, think about what you are most powerful in and what is the core of your business.
For example, I know that I am good at consulting and advising, creating marketing strategies, conceptual works, etc. but for no pot of gold I would like to do Google Ads or Facebook advertising in my company! I’m not saying that it’s boring classes – on the contrary, I can grasp it, but I get more pleasure from other tasks.
What is the market for this type of service?
You already have a business idea, you know what you want to earn, but have you checked if anyone needs your services? Have you checked how your competition is doing, how many questions about your potential services appear e.g. in Facebook groups, social media, online forums? How often do people just need services like yours?
How does your competition work and how do you want to stand out from it?
Ok, you already have an idea for your own business, and you know that people need your services. Let the next task be to check the actions of your competition. Why?
You probably already have your own action plan outlined, but it’s worth checking how others in your industry are doing (and what they offer and what else they lack …). Maybe even after a quick research of the competition profile on Facebook it turns out that they are poor in customer service? Or they offer very standard items?
How much does your business have to earn to get you zero?
Remember that running a business costs money. You must pay taxes, contributions, pay for e.g. computer equipment, telephone conversations with clients, access to them. Maybe you also have to bear the costs of renting an office, bills, or buying services and intermediates from which you make your own products?
Include any costs you incur to guarantee your services to customers. This is the amount you have to EARN for the company to operate. And this is the amount that does not yet take into account your earnings – such a black scenario “, which shows the minimum amount that you need to survive the company. You know, just in case …?
How do you want to attract your first customers?
Rather, there is no reason to assume that after starting the venture, hordes of customers will knock on the door. I wish you that! Let’s be realists … In a world full of social platforms, notifications, and information, only the best advertising campaigns reach the public.
The channel you want to reach customers depends on the industry and the specifics of your business – there is no single, best measure here