So you want to have your business but you don’t know what to do. It is not that easy to start a business but with a good plan and a little help, you can be your own boss and earn yourself a nice pay check at the end of every day or month.
Now you need to recognize that you don’t have to search for any elusive jobs that are not available. You need to recognize your talent, skill or try to fulfill a need around you.
Every business starts with an idea, a talent or skill but the most important thing is the market demand for it. If your idea, talent or skill has a market for it, then the only thing stopping you is you. Instead of waiting for someone to hire you, why not set up your own small business and hire yourself.
Follow the steps below to start your own small business.
Recognize Your Talent, Skills or Abilities
Do you think you can do something that people can buy, like crack a joke, sing or act? Then you already have a talent that can make you money. People want to laugh to ease their stress. Some want to listen to good music and also to watch movies.
Developing that talent is the way to get yourself a good job without necessarily looking for one. Great talents in the world recognized what they got, developed it and became what they are.
The best thing about making use of your talent or skill is that, there is already market for it. People need your talent, skill or abilities and they are ready to give you their money to see you use it.
Develop that talent by going to music school, acting school etc. A great talent or skill needs to be developed. There are great institutions and teachers out there who can help develop whatever talent you are endowed with.
Start with an Idea
Look around you for what people need and develop an idea to satisfy that need. You will have to start with a realistic idea you can turn into a service or product. If there is a demand for that idea, then it is time to turn that idea into a business.
Look around you for what people need or want. Can you satisfy that want or need with your idea? If you can then go for it.
A great example is power. There is always the need for power and if you thin you can develop an alternative power source, then you have just got yourself a great job.
Satisfy Market Demand for a Good or Service
Can you satisfy a demand for something around you? If so why not satisfy that demand. You can buy goods you feel people around you want and sell it for profit. People need to wear clothes, eat food etc.
The demand for these are always very high and if you are ready to satisfy that demand, you will make yourself rich.
Learn a Skill
Is there any service or job that is in high demand that you don’t have the knowledge of? Learn it. Yes, you can learn that business, skill or trade in order to satisfy a need.
Great fashion designers like Calvin Klein etc, realized the need for clothing and decided to learn fashion designing and developed it until they became millionaires and well recognized world wide.
Create a Business Plan
If you have a skill you think you can develop or a need to satisfy, you need funding, equipment, whatever it takes. Creating a business plan is the only way to make it a reality.
You don’t have to start big, start small. Get in touch with people and plan how to make it work. Identify a potential customer, talk to them and find out if your idea is meeting a real need.
Think about who you are going to work with to develop and sell your idea. How much will your idea take to start off? What tools or equipment do you need? Do you need other people to start off or you can start alone and develop it from there?
Have a good plan and set up that idea for take off.
Whatever idea, skill or plan that you have come up with, you need to sell it and promote it. If your idea requires you to set up shop, you need to get a space and market it. Reach out to people who need your service or product.
Set up a marketing plan that will make you reach a lot of consumers of your product or service. Set up a website, reach out on Facebook, twitter, radio, TV, handbills etc.
The more people who sees or hears about your business, the higher your chances of converting them to customers or clients.
Register Your Business
After creating that business, you need to get a name or a brand and get it registered with the right authorities in charge. In Nigeria, you need to register your business name with the Corporate Affairs Commission (CAC).
A name distinguishes your business from others and gives your business an identity of its own. Names like Dangote, KIA, Toyota, Calvin Klein are brands that sets them apart from others. It does not cost you much to register your name.
You also need yo have a development plans. how to grow the business from one level to another. Do you plan to make it a sole business, or you need help of others down the line?
Do a good job to retain customers. Customers are the lifeline of any business. You need to create a business that centers around retaining your old customers while also getting new ones. Do promotions, give out gifts, coupons etc.
You need to reinvest what ever profits you are making at the beginning to finance the rest of the company’s operations. For your business to grow from one level to the next, you need to reinvest every penny while getting more hands and more tools or equipment.
Rinse and Repeat
When you do all these, you have succeeded in creating a job for yourself and also indirectly satisfying a need around you, thereby making money for yourself in the process. Whatever you are doing that is working, do it again and again until you find a winning formula.
You don’t have to wait for elusive jobs to make it. Develop your skills, satisfy a need, learn a new skill and you will be satisfying others needs in exchange for their money.
If you need video training programs to help you achieve success with your business, Check out this Business Courses.