Be an Entrepreneur, innovate and start up your own business
It is not easy to start up your own business, but if you are thinking about it you have already done the hardest part. Convinces yourself and made that brave step.
Below are a few key points to remember to increase your chances of success. Remember there are no failures, just lessons to be learnt and ways to improve.
The secret to success is to know something nobody else knows – Aristotle Onassis
Your start up IDEA
The best ideas come from noticing when something is missing or can be done better. In other words INNOVATION. You must innovate, your idea does not need to be totally new, it has to solve a problem thats all. A service or a product not currently available in a particular area, or to a certain demographic. It could be something that saves people time or money.
You have to remember you must give something to your customer, even if it as basic as convenience or as complex an experience that wows them off their feet.
OBSERVE the market for your start up
Make a market for your innovation
Make an innovation for your market
Pick a NICHE for your start up
Do not try to be a Jack of all trades Master of none.
Resources are limited so you can not offer everything to the highest quality.
Be unique, serve an unserved part of the population.
Master one niche and you can always expand, be it service, product, demographic, location.
Create a name for your business in that niche.
It will help your website and SEO too.
£££ Know your numbers for your start up
Make sure your numbers add up.
Is your idea viable, can you make enough compared to the next best alternative.
Ask yourself if you have a new idea, if its not being done, is it really that no one has thought of it. Or is it that its not viable and anyone doing it did not survive.
Keep overheads and costs to a minimal, if you keep it small you can always upgrade, never start day one with an expense to overcome, that will stop your creativity.
Try not to commit to contracts e.g. long leases or employment contracts.
NAME & BRAND for your start up
The name should say something about the product/service that instantly creates a perception.
Think of the sounds, think of the words, think of your target market. Will they get it?
The brand with the logo, name and tagline must sell you to your market. Be modest but strong.
My recent favourites are “Vitamin Water” “OnlyEggless”
Do not make spellings ambiguous, when verbally saying it, someone should be easily be able to type to go on your website.
Make it easy for your target to identify, acknowledge and remember you.
WEBSITE for your start up
You need a good website. It is your portfolio. Allows linking together social media.
In today’s world everyone searches online, if they know you they will search to get contact details.
If they don’t, then the strength of your websites allows them to find you via search engines and social media. You do not have to spend a lot, you can even do it yourself for free. Just do it well.
Your reputation is the most important attribute to keep on top of, not only for your business but even for yourself. You can sell or close a business, however your personal reputation stays with you. Ensure your reputation is a true representation of you and the person you want the world to see.
These are just a few essential points to consider, I am very much for enterprising and encouraging entrepreneurship. In today’s age it’s a shame as the number of entrepreneurs are dropping and it is even hard in the economic climate to be successful. However I believe with the right tools, careful planning and drive it can be done. I have done it.