WARNING: Learn how to start a business and creating a business is the most difficult thing you will do in your life. Don’t have the slightest doubt.
We are going to tell you why:
- Your loved ones will never understand why you do what you do. This is going to bring you problems with them.
- You will lose some of your friends.
- It sounds silly, but it is very possible that you cry at night and the next day you smile at everyone to hide your concern.
- You will fail so much that there will be times when you lose confidence in yourself. Don’t worry, this is not permanent.
- For a long time the reward will be much less than the amount of effort you put in.
- 90% of what you do will not be seen by anyone. Most of your effort will go unnoticed.
- You will be alone most of the time.
Now that you know what to expect, do you want to continue? Do you have the energy and willingness to learn how to start a business?
If after this warning you are still convinced that creating a business and helping other people is the path you want to follow; continue reading. We are going to tell you how to start a business.
How to start a business: The 12 elements that will make it successful.
1. Have a vision.
Every company starts with an idea. But keep in mind that this point is called “vision” not “idea”. Ultimately your vision is what really matters.
Do you want to know a little secret? Your idea is not unique. Chances are someone has done something similar, is already selling a product like the one you have in mind; and that it is already providing a service like the one you want to offer.
But if you focus on your vision, you will realize that your vision is unique. What you do with the idea makes all the difference.
Your vision will give authenticity to the idea, it will give it advantages that only you can give. Focus on the vision, not the idea. Protect your vision and sell the idea.
2. Do your research.
Do you have a great idea and the vision to execute it? Cool! You have done 0.0000001% of the work. Then comes the investigation.
To learn how to start a business, you must be aware of the importance of researching everything you can; This is how you will define the direction of your business.
This information can help you:
Don’t ask random people if your idea will work or not, because they don’t know. They are equally or more uninformed than you.
If you are going to ask someone about your idea, choose the most sincere, direct and cold friend. Someone with experience, someone who is knowledgeable and can really offer you a valuable opinion. Let him or her envision your idea fully and get your input instead.
Research similar businesses in your area and see how they are doing and what makes them different. The last thing you want is to create a product that no one needs..
3. Create a team.
If you think you can do it alone, you are wrong. Find people and get in touch with them. I know shameless by asking for your help. Many will tell you no, but it’s all part of the process.
You will meet many people and eventually you will find the one who is your soul mate. Build a great team that shares the same vision as you. Discuss the idea and view it from another person’s perspective.
4. Learn and improve every day.
Business is an art form and should be treated as such. Learn all you can to build a great business. Read books, listen to podcasts, and follow mentors. The more you work on yourself, the clearer you will be with your vision.
5. Take action.
Start wherever you are, but don’t think about it anymore; it just starts. Don’t wait for the perfect moment, because it will never come.
Take small steps, you are still a beginner. Make small improvements every day, little by little you will gain the momentum you need.
6. Have a Product Minimum Feasible (MPV).
Build a product, any product. Don’t try to make it perfect, just develop it and get it out there. Receive feedback from users and improve. Test the business model and let the public test it. Learn what works and what doesn’t. Make changes depending on the results.
Also read: How to build a business model for my company.
7. Advertise word of mouth.
The best form of marketing there is is referrals. This is not only the best way, but also the most economical.
Get the word out as much as you can by asking your customers to recommend your product or service to their friends and friends of friends.
Offer them something in return, like a gift card, and they’ll happily spread the word. It is a “win-win” for everyone.
8. Be competitive.
Be competitive in something: Price, quality, experience, service; It doesn’t matter. If you can’t differentiate yourself, consumers won’t find a reason to become customers.
9. Invest.
You may be starting your business with your savings or receiving financing. No matter the situation, always invest the money you have in the right place. Make every penny count.
Know the numbers, study and read finances. Your business may be the coolest in the world, but it still needs to fill out boring old spreadsheets and budgets.
11. Grow up.
Scale your business fast. The sooner you start earning money, the better. Continue to improve your MVP (Minimum Viable Product) along the way.
Keep your profits high and grow your consumer base as much as you can. And Don’t forget about old customers as they are more likely to buy from you again.
12. Remember your vision.
This returns back to the first item. Don’t forget your vision along the way and stick to it. Your idea is important but don’t focus only on that.
Many companies did that and failed. Create a brand image and let the world know what you stand for.
You already know more about how to start a businessNow let’s get to work 🙂
And remember, if you are really interested in creating your own business, you can purchase our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
