As 9 -5 office worker, sometimes you might feel like you want to get out of your routine and start your own business. It might seems appealing, with more money to earn, more time to spend with your family and more freedom in decision making. However, being an entrepreneur is not as easy as it sounds. There are some preparations you need to do before jumping into entrepreneurship such as:
1. IDENTIFY THE RIGHT BUSINESS FOR YOU
Explore yourself, find what gives you energy when you are tired. Look at the work that you have done in the past and think about repackaging those skills as your own services or products. You can also learn about other business that interest you and you can try to recreate it in your own style. If you are more of risk taking person, you can start your business by researching the gap in the market where you can slip your business into this market. Remember that before doing this, you need to gain more knowledge before jumping into the business straight away.
2. KNOW YOUR TARGET AUDIENCE BEFORE SPENDING ANY EXPENSES
Before you spend any money for your business and production, first you need to ensure if people will actually buy your products or services. Validate by market by knowing who will buy your products or services other than your family or friends. Who will be your customers, is your product offered relevant with their need and why do they need it? The easiest way to get any answer of these questions will be to ask your target market directly and listen to their feedback.
3. CHOOSE THE RIGHT KIND OF MONEY YOU NEED FOR YOUR BUSINESS
Unless you are supported by an angel investor who provide you with basic fund to start your business, most likely that you will be the only investor on your business. That is why you need to have a detailed understanding on your personal finances and you will need to setup your personal accounts in a money management system. Don’t forget to consider what type of business you are building because each types will need different amount of money to launch and grow your business.
4. BUILD A SUPPORT NETWORK
Once you have made internal commitment to your business, make sure that you are surrounded by group of people who have the same trust in you and your business. Create a network of supporters, advisors, partners, allies and vendors.
5. SELL BY CREATING VALUES
Either your business serves physical or services goods, don’t focus only on selling things, but focus more on serving others. Ask yourself what you can give them and how you can make them successful in their own pursuits. This approach will lead you to new ways to deliver our products with more value, thus will be appreciated more by your customers.
Article Source : https://www.entrepreneur.com/article/207488