How to start a business? I don’t know. It’s been a year or so I have started this blog. And, I’ll cry if you ask me how much I make from it. Just don’t.
However, there is a silver lining to it. Now, I know how not to start a business. And, it is equally important.
Your Business Isn’t the River.
My grandmother was a strong believer in rivers. I’ve a vivid memory of her face as I sit across her on a train—the sunlight shooting in from the window glowing her wrinkled face so bright that you’d dazzle. She had a collection of coins. It contained small denominations of 1, 2, 5, and 0.50 rupees. Wherever she found that the train is crossing a bridge, she would drop one of the coins from the window and pray.
She said it’ll grant your wish. In fact, the bigger the denominations, the faster your wish will come true. Your business isn’t the river. And, your grandmother doesn’t know how to start a business. The time, efforts, and money you spend on it aren’t my grandmother’s coins. Your business could be ruthless, unsympathetic, and cold. At the same time, it’s also unpredictable. That’s where the trick lies. It’s sheer misleading to think that the more time you’re giving to your business, the more it’ll grow.
You Might Sell Your Products on a Website—but Your Sale Happens in Your Head. Use It.
Now you know that simply spending excessive time and money won’t help alone. In that case, what do you do? Think. I wish I’d a way to weigh it that would have made you understand its importance. When you get a business idea, write it down. And then go to sleep. Wake up. Go out for a walk. When you return home, revisit the idea. Become a critic. Does your idea still make sense? There’s only a 5% chance that it’ll. That’s why you should spend most of the time in thinking how to start a business plan.
Hopefully, you’ve an idea that you gave a lot of thought to. Now is the time to become Sherlock. Go out and see what your competitors are doing. How are they selling the idea that is the most like your idea? What are they doing awesome? Where are they lacking? Once you figure out these two things, you’re halfway down the road. Punch some keys on your keyboard and browse Internet. Document everything. Make sure you’ve at least a rough plan.
Show Me What You’ve Gotten Better.
What better do you have to offer than your competitors have? I cannot say anything beyond it. It should top your list of things needed to start a business.
The Final Call.
Once you know that you have something better to give, it’s time to do some more market research. For the starters, let’s say your business is based on a website that sells your idea. Where will you host the website? How will your logo look like? What about the promotion, branding, designing, streamlining, and all sorts of things that your business demands?
You’ve an important decision to make because this decision is your door. Don’t worry, you can choose not to enter and start all over again. Decide if your capital can bear the recollection of your business resources and still fuel it for at least 6 months even if your business makes no profit. It is equally important to know that knowing how to start your own business isn’t enough. Whether you should really open it is the question.
Let me tell you something. Your business doesn’t define you. Most importantly, it’s not worth affecting your mental health. Please consider it one of the factors to consider before starting a business.
Your business will either be successful or unsuccessful. You’ll either win or lose. However, you’ll remain a winner.
Also, read: What Is The Loudest Sound Possible?