Starting your own business in 5 easy steps!

Not everyone is suited to an average 9 to 5 job. Most people have huge dreams that can’t possibly be achieved by a measly 9 to 5.

Every day they show up to work, complete some tasks, stress over their job security, all for a boss who probably doesn’t even know their names. The routine is repeated until the end of time.

Everyone wants freedom from their normal lives, something they can dedicate their time and energy to and not regret it, something that will make them feel alive. They want to live a life as free, fascinating, and interesting as possible.

And that can definitely be achieved. All by starting your own business. By being your own boss!

Now, starting a business from the bottom up is not exactly as easy as it sounds. Which is why, in this article, I’m going to walk you through some steps you need to complete to start your own business.

1. Knowing your business:

Before staring your business you should have a clear point of difference — a unique selling, or value, proposition. Make sure you are building something people want.

A mistake so many beginners make is that they build something they want, rather than something other people want. Your product has to be based on demand, not just your own desires. However new your product may be, it doesn’t always mean people are actually going to use it.

It must have a focused service or product and a distinct target customer.

2. Develop a business plan:

All types of businesses, be it partnership, sole proprietorship or even a company or brand, have the same basic branches. Create a detailed plan that covers all parts of your business administration, marketing, selling and staffing.

Setting goals is critical to any business. Even though it may seem like a draining task, goal-setting can actually motivate you. Make sure to follow the very easy to remember “SMART” plan, i.e. specific, measurable, achievable and time-based.

3. Finances:

First, you need to know how much money you need to launch your business and operate it for a few months. It is important to include enough to make sure that your business doesn’t run out of cash before profit even starts coming in.

There is a high possibility that you can’t cover this amount yourself, so you need to think about getting outside financing for your business. There are many options a business owner can consider when looking for outside funds. Approaching your family and friends first is compulsory, after that you can think of bank loans.

4. Customers:

Most entrepreneurs start their businesses because they love the work they do, not because they like making profit. Unfortunately, your business won’t survive if you’re not good at attracting new customers.

Customers are practically the backbone of any business. You can look to acquire by word-of-mouth, online, sales campaigns or by even teaming up with other businesses.

5. Be Consistent:

And last but not least consistency. Many people lose hope in the first few months of starting up their businesses.

When you want to build a house for example, you don’t just construct it all in one day. You have to get the blueprints first, lay the foundations, and put it into place brick by brick.

It takes time, energy and patience, your blood, sweat and tears.

Rome wasn’t built in a day and neither can your business. And it certainly won’t succeed in one.

Take one step at a time. Being consistent allows you to establish awareness, build trust and deliver your services efficiently, effectively and profitably. Without it, your business is more likely to fail.