The Complete Start-Up Guide to Entrepreneurship

by | Nov 29, 2019 | 0 comments

At some stage, every one of us had a million-dollar idea but the difference between those who become a million-dollar business and those who don’t is the action you take with your ideas.

If you believe you have the next big successful idea and have no clue where to begin – start by reading this article and taking action…

p.s. if you are not an action taker – you may as well stop reading here… ūüôā because entrepreneurship takes courage, belief and an insane amount of action and perseverance.

I am not saying it will be easy – I am saying it will be worth it!

So let’s begin: The 9 things you need to start your own business and become a successful entrepreneur.

1. Define Your Purpose

Without a clear purpose, neither you nor your business will have the reason to stick it out when times get tough.

If you have a definite purpose of why you are pursuing this business, what your bigger goal is and why you have started it, not only you will be motivated to see it through to success but also your team and customers will be compelled to support your purpose.

Far too many people start a business without this key ingredient and quickly give up.

Remember – you can do anything – but you can’t do everything. Time is precious, so whatever idea you are going to pursue, it will require your full dedication and commitment.

2. Break It Down

We usually fall in love with the big idea of creating something epic! In the end, all entrepreneurs are dreamers, visionaries, and idea creators.  Being all of those things is great, but can you break things down into simple, actionable steps? 

  • Make it so simple that an 8-year-old would understand it.
  • What problem does it solve and for whom?
  • Do not over complicate it.
  • Do not try to be everything to all people.

Be good at one thing, and do it very very well. Be obsessed about that one thing, be known for it and then add other products or services to your offering.

3. Research Before Creating A Brand

Yes, you need to be known as something – but chances are someone has already done something similar before you.

When creating a brand, keep things simple and easy to understand. Something catchy, memorable, easy to remember.

Check if the name is available. Are there domains that you can register for that brand name? What about social media handles?

Do some research, chances are someone has already thought of the name or even have established a similar business with a similar name.

The more research you can do when starting out, the quicker you will be able to execute and make decisions. You don’t want to find out that someone has a trademark and all domains registered after you have already invested in creating a brand.

4. Test the Waters

See if what you are creating will have demand in the market you are anticipating.

  • Are there people with the problem you are looking to solve?
  • Will there be people who will actually pay for it?
  • Are you targeting the right end of the market?

Very often people create products or services that simply do not match the market need. Then they work relentlessly trying to sell ‘shoes to the shoemaker’ – or in other words sell things to people who do not need the solution or are not willing to pay for it.¬†

The easiest way to test the waters is to put together a 10 question survey and ask your ideal clients/customers to fill it out.

Where to Begin When Starting Out in Business

 

Where to begin when starting out in business
  • https://www.facebook.com/womeninbusiness8/
  • https://www.pinterest.co.uk/womeninbusinessclub/
  • Twitter
Check out our FREE masterclass to help you get started in business, covering some of the key principles of starting a business and establishing your brand. 

This masterclass is designed specifically for those thinking to start a business or who are in the 1st year of business. 

5. Build an MVP

Start out small and build a minimum viable product/service.  Something simple that will show people what the idea is and present them with the offer.   

Ask them Рwill they buy it?  If not, why not?  What could you change? 

If they want it, then you know you are onto something. If not, don’t waste too much time trying to perfect the dream that only you have fallen in love with. Build lean, learn fast, and pivot if needed.¬†

The quicker you can eliminate things that will not work, the quicker you will be able to land on the idea that will work and start bringing in the money.

6. Price It

This is the big question everyone asks – how do I price my product or service?

My question to you is –

  • Have you looked into your competition?
  • What price do they sell their products at?
  • What do people expect to pay for it?

On another spectrum of the equation of pricing is – What does it cost you to:

  • Make it
  • Create it
  • Market it
  • Deliver it
  • Sell it¬†

Consider all of your costs, including brand creation, consulting fees, website build, cost of time and resources.

Of course, at the start there will be lots of initial set-up costs and those are usually spread over time, but do not forget to include those things in the grand scheme of things when pricing your products or services, because you will need to make a profit at some stage in order to have a successful business.

7. Create A Launch

Create a launch that draws attention to your brand new business. Of course, when you are starting out it is not easy to create awareness, and as a start-up you do not have the budget to invest in marketing, but what you do have is resourcefulness and creativity to think outside the box and create a launch that ‘brings people through the doors’ or onto your website/landing page etc.

Creating a launch is one of my favorite parts of seeing a business take off, but far too many people just ‘launch their website’ and then try to climb up the brick wall trying to attract one customer at a time.¬†

If you spend a little time strategizing your launch and executing it correctly, it will bring a lot of people all at once and will be worth your while.

8. Deliver an Epic Experience

There is a reason why people buy from small brands and that is the personal touch and experience they receive from the founder or small business owner. 

Treat every customer like gold dust, make them feel special, shower them with gratitude, show them you care. They will keep coming back for more and tell all their friends about you.

Treat your customers like a number – and you will see those numbers drop like dead flies.

9. Believe In It

This is last but by far not the least thing on this list. Belief in yourself and your product or idea is the key ingredient to your success. 

Remember, if you do not believe in your product, your service or yourself – no one else will.

In the end – entrepreneurs sell dreams until those dreams become reality.

 

Did you enjoy this post? Leave a comment and let me know what part of the entrepreneurial journey you are in.

Raimonda Jankunaite
  • https://www.facebook.com/womeninbusiness8/
  • https://www.pinterest.co.uk/womeninbusinessclub/
  • Twitter

Raimonda Jankunaite

Women In Business Founder

Raimonda Jankunaite is an inspiring public speaker on entrepreneurship, women in business and technology and crowdfunding. She is a founder of the Women In Business international community and events.

She thrives on seeing other women succeed in life and business, that is why she dedicated the last few years in Mentoring, Coaching and Empowering Women through the work of the Women in Business Club.

Where do you begin when starting out in business? We get asked this question all the time. 

And rightly so, because starting a new business can feel very daunting and at times overwhelming. You probably have an idea for your business, a concept or a product, but you have a million and 1 things to do. But where do you actually begin?

Our FREE masterclass will help you get started in business, covering some of the key principles of starting a business and establishing your brand. 

How to find your clients or customers, how to validate your ideas and price your very first offer. 

This masterclass is designed specifically for those thinking to start a business or who are in the 1st year of business. 

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