I have found that, a lot of of people wish to create a business, but don’t know where to start. I’ve created this small 3 step guide as a stepping stone for those who wish to be in business for themself in 2010.
1. Create a Plan
“If you fail to plan, you plan to fail.”
Creating a plan is the first step in developing a business. If you don’t have your own product, you can create a business around selling, or advertising other people products. Developing a business plan revolves around asking yourself a lot of questions, and getting crystal clear on your business, and its purpose.
For example, Kellogg’s has a business of selling cereal, your local supermarket has a business of selling others company’s products, and your local newspaper has a business of selling advertising of local businesses. Where in the sales channel would you like your business to be?
- Choose a product: What will you be selling? This can be your own product, another company’s product that you’re an affiliate of, coaching, information, etc. Whatever your product is, make sure its something you can be passionate about.
- Add Value: What qualities will define your business? How will you you be adding value to the market place so that your customer chooses to do business with you rather then the competition?
- Define your ideal customer: Who will be using your product, services, etc?
- Develop a marketing plan: How will you find your ideal customer? How will you develop leads? Buyers? Repeat customers?
- Define “Why” you want to be running a business: What is going to motivate you to not quit when the going gets tough?!
2. Get Support
“Be in business for yourself, but not by yourself”
Part of being an entrepreneur is to be in business for yourself, but make sure you’re not in business “by yourself.” Find other like minded entrepreneurs to collaborate and mastermind ideas with. If you do not already know other Entrepreneurs, you can use Meetup to find groups that meet locally and share common interests. Create a mastermind group, brainstorm, develop ways to be more successful.
Another option is to join a network marketing company in order to learn from others, use a proven system, and market a product that you’re passionate about as a group. Be forewarned, there are a lot of networking companies, that look good, smell good, but actually are no good. If you’d like some help picking out the right one for you, feel free to contact me directly.
Another word of advice, your friends, family, and co-workers may not be the best people to look to for support, unless they’re already running successful businesses. It wouldn’t make sense for a doctor to ask his friend, a head chef, on the best way to do heart surgery, so why would asking one of your friends who doesn’t have the career you desire on the best way to start up a business. Don’t worry, you don’t have to loose your friends, just make more of them.
3. Find an Expert
“Who is your coach?”
Being a business owner is a lot like a professional athlette. You have your plan, your teammates, and then you have an experienced expert who knows the best way to use your skills and talents.
My first recommendation would be to read and learn from books on other Entrepreneurs in order to get an idea of what has already been done and learned for you. You should constently be reading business, and personal development books.
The next step is to find an individual(s) who have what achieved some of the same type of success you’re looking to achieve and learn from them.
If your goal is to be a successful restaurant owner, interview other successful restaurant owners. Find out what they did differently from their competition that caused them to stay open. Trust me they’ll feel honored that you took an interest in their business, just don’t try and speak to them in the middle of the busiest night of the week.
If your goal is to run a successful internet business, find others that have done it already, and replicate what they did right. Perhaps you should even hire a social media coach.
If your goal is to be a Millionaire, then you better be speaking to, and gathering advice from millionaires. If the millionaire advice isn’t working for you, find billionaires!
For every successful business there are 9 others that have failed. Find out what that 1 business in your field is doing right and duplicate their system. Do not try to reinvent the wheel, you’ll just be wasting your time.