Want to Start a Business?
Updated: Sep 18, 2019
If you're like me, your heart may be naturally inclined to business and marketing. You may want to truly start a business especially in the world of social media, it may seem like everyone on your time line is doing it, and you can't seem to find your niche or your footing, so you just have not started. Well, this is what helped me... I created a business plan! I prayed over it, I applied for my LLC and EIN number, and then I made necessary sacrifices to make it happen. I know it may sound too simple, but it works. A Goal without a plan is just a wish. - Antoine de Saint Exupery.
Here is the truth, I have started businesses before, and I made good money, but I was just going through trial and error. And, honestly, that is just what business is. I failed though because I was actually doing business, I was hustling day to day. However, if you make a plan for yourself, set a goal and a deadline, and discipline yourself to accomplish it in order you would achieve much more than I did with my first two businesses.
Here is a blue print for you, so write it down:
- What us your big idea? What are you looking to achieve?
- What makes your idea different? You can be in a saturated market and still have fresh ideas.
- How will your products/services stand out from competitors?
- Why will people want to buy? People don't buy what you do, they BUY WHY YOU DO IT. -Simon Sinek
- What does your name say about your business?
- Is your name unique? Memorable? Easy to pronounce?
- Who will your customers be? Who do you want to buy your product? Every business has a focus group, so don't create a broad demographic. Mc Donald's aim for people who want a quick meal for a cheap buck, while Subway target people trying to eat healthier for a reasonable price.
- Gender, race, social group, class, ages?
- What is your target audience passionate about? Good services, Beauty, Prices, Social Status, Information?
- How will you get the word out?
- Online ads, Social Media, Posters, Commercials, Sponsorships, Email, Business cards, Billboards, Word of Mouth, Door to Door? Best Marketer Wins. -Ming Lee
- How much will you charge? Will you increase charge?
- What are your competitors charging?
- How much will you make on each sale after you subtract expenses? Income- Expenses = Profit.
- What will you do with the money made? Reinvest, donate, save, create another business?
- How much will your beginning over-head be? Website, shipping, lease, lights, packaging, promo, photo-shoots, gas etc. Prepare to save receipts.
- How much will it cost to start? Budgeting is vital for your start. Count the cost of what you are investing in, and then make necessary sacrifices to get your product.
After you have written out your game plan, execute.
1. Pray over your plan.
2. Get your LLC and EIN number (This may assist you in getting business loans).
3. Start buying product for your business/services. It is ok to start small.
4. Market. Make people want it by branding yourself. Use influencers by offering free product/services in exchange for promo.
5. Stay consistent and constantly form ideas to make your business better.
I hope this helps you. You CAN do it.