It’s undeniable that we’ve all dreamt about working for ourselves. Sometimes, the day-to-day nine ‘til five routine, five days a week can get a little tired. Although it has its perks, and the security of having a regular job is a comfortable way to live, it’s just not enough for some people. Although it can seem a little ambitious at first, being an entrepreneur and starting out with your own business isn’t as difficult as it may initially seem, and some of the biggest companies in the world (ie Apple was rumoured to, at least) start from the humble home start-up. It’s difficult to know where to start with these things, however with this guide, you’ll have your business start-up up and running in no time.
Have an Idea
This might sound a little bit obvious, but all of the best businesses and companies start from great ideas– and if you don’t have one yet, it’s time to get thinking!
One of the best ways of targeting the idea problem, is by looking at what’s already out there on offer in the marketplace you’re interested in entering. When you’ve done this and you’ve clocked who the main competitors are, taken their good ideas and diminished the bad ones, this is where you’ll decipher where it is that you fit in. By figuring out where the gap is in the market, you’ll be able to figure out what your companies unique selling point could be, and therefore you’ll ensure that you’re offering something that is both unique and needed within your chosen sector.
Figure Out Your Target Audience
Once you’ve figured out where the gap in the market is for you, you’ll want to decide on who your target audience are going to be. The two very much link in together well, and you may discover either one before the other, but once you’ve gotten either one sorted, the other will immediately follow.
Once you’re figured out who your target audience are, you’re going to want to figure out the best way in which to market your business towards them directly. For example, if your business idea is aimed solely at young people and the millennial generation, if we’re going off stereotype, using social media to market your business towards them is potentially the perfect plan. Speaking for majority, conducting business online is one of the most sure ways of making sure that your business is accessible to consumers far and wide, so ensure that you build a website in the early days of your start-up, the sooner the better.
An ideal online resource for your business start-up, is RankWarrior’s link building service. Link building is easily one of the most effective ways to make sure that online consumer traffic is tactically driven to your business.
Set Up a Budget
Of course, in an ideal world money would be no object, but unfortunately this isn’t the case for the vast majority of people. When you’re starting out, it’s vitally important that you budget your money effectively and stick to it. The last thing you want is to spend too much in the early days and be left with nothing to keep your business afloat as time goes on.
One of the biggest perks of working from home, is you don’t either have to buy a space, or pay rent for an office or property. Although this might be something you’ll look into in the long run when your company grows larger, for now it’s something you don’t have to worry about. Creating a home office is fairly cheap, in that all you need is your computer or laptop and any supplies you feel you need to keep yourself organised and conduct your business effectively.
Consider the Legalities
Last of all, the boring stuff. Of course, if you’re starting your own business you’ll have to register as self-employed. If you’re starting your business, there are a few different options to consider. You can either register as a sole trader, a general partnership, or a limited partnership. This can be a little confusing at first, however there are so many resources online nowadays, that it’s easy enough to get started once you get the ball rolling.
You’ll also need to consider your finances and open a business bank account in order to finance the day-to-day stuff. Presumably you’ll have a small amount stashed to begin with, so be mindful of where you invest your money. Above all, enjoy the experience. It’s one that few get to have, and even few manage to make work, so enjoy the journey you’re on. It could be the making of you!