The idea of running your own small business is always there in the back of your mind. You have tried to banish the idea because you know running one is hard work.
The idea never leaves you.
If you are like most starter entrepreneurs, you have faced the problem of having an idea in your head, with no direction as to how or where you might execute it. For those with a small business idea that never leaves, take this as a sign to act upon it. You could end up making big money and doing what you’ve been always passionate about from a small idea dreamed up in your bedroom.
Start with a Business Idea
First, you need to start with your business identity. Start by asking yourself these 3 main questions:
- What problems are you setting out to solve? Most new businesses begin as a result of a need, want, or problem. Make sure you know exactly what your product or service will do for your customers and why someone would consider buying from your business.
- Why does your business matter to people? Why should people care about the product or service you want to provide? Does it help save the earth from pollution, or does it give shoes to needy children? Establish your “why,” which is also known as your Value Proposition.
- Who is your audience? It is highly important to understand who your potential audience is. Failing to understand your demographics may cause you to cater to the wrong crowd and to possibly lose valuable business over it. Understanding your audience may make the difference between making your brand hip and fun to cater to a young crowd or calm and subtle for an older crowd. Eliciting your desired response depends largely upon an appropriate presentation.
Finding your business’s identity is key to start acting upon your small business ideas. These three questions make up the core of your business and will carry you through from conception to implementation.
Start as a Side Hustle
One great thing to remember when implementing a small business idea is to start small.
You might start your business as a small side hustle. Work on your business on the weekends or evenings for a while. Eventually, your business may grow and demand more of your time, energy and dedication. Before you step away entirely from your day job, keep in mind you should leave yourself with a financial cushion, just in case your business doesn’t sustain your needs immediately.
As a new entrepreneur, turning your small business dream into a viable business may seem frightening. It takes a tremendous amount of guts and grit to push through the hardships, get your business off the ground, and nurture it to sustainability. It may take many months, or even years, to see the results you want, but that is part of being an entrepreneur.
Marketing Yourself as a Fierce Entrepreneur
One of the scariest, yet worthwhile, tasks that an entrepreneur must accomplish before seeing a small business take off is marketing themselves as a focused entrepreneur.
Now, this may seem like a crazy idea, especially if your business idea is to sell a product and not a service. People want to see a capable human being with a charismatic personality, emotional intelligence, and practical business sense.
Even if you are not naturally entrepreneurial, or don’t see yourself as a fierce go-getter, it doesn’t mean you can’t become one with some practice.
Business and Emotions Go Hand in Hand
The truth about starting and running a business is, without emotion and creative ideas, your small business will be nothing but an empty shell – a shell that could contain your unique brand voice, humanitarian efforts, and customer relationships.
Emotions determine the character of your business – the personality, if you will. In order to connect to your audience, you need to grab them by their hearts first, and not by their wallets.
Your brand should convince your audience that your company is personable and cares for them. Use your emotions to lay the foundation of who your company is, why you do what you do, and how you are going to help make the world a better place. You will better connect with your audience on an emotional – and perhaps spiritual – level this way, encouraging them to become brand believers and buy your product or service.
Get Inspired: Read Up on Entrepreneurial Stories
Even the most successful entrepreneurs, like Steve Jobs, creator of Apple Computer, Inc, or business guru Blake Mycoskie of TOMS shoes, learned how to build their business empires through two means: their life experiences and the influential people around them.
Learning the stories and tactics of entrepreneurs, past and present, is a smart way to expand your entrepreneurial vocabulary and skillsets. Most small businesses start with nothing but an idea and a small chunk of cash.
Reading books and articles, listening to podcasts, and watching videos from entrepreneurs can help inspire you and grow your knowledge about the entrepreneurial world. Maybe, someday, you can share your business story with others who need your guidance and inspiration.
If you want to stay focused on your goals read our valuable points.