LEARN HOW TO START A SMALL BUSINESS
Look around, does something feel missing, does something feel out of place? If it does, can you fix it or do you have a solution for it?. Well, that solution is the birth of an idea. But starting a small business goes beyond an idea. Learn how to start a small business. Understandably, a small business could mean you lack the finances to fuel a bigger one or it could mean you lack the resources needed to start a bigger one. Regardless of which is the case, one thing is certain, it’s not a limitation, a setback? maybe but that’s all it is. Moving on, businesses can’t thrive on an idea alone, there has to be more. In this case, more means proper planning, a solid structure, and a foreseeable outcome.
Now the lightbulb is on in the upper room and oh the idea sounds sooo good in your head. However, that’s just your starting point because if the idea can’t answer why, it probably shouldn’t be looked into as a business. Why do I have black skin? Why does the sun shine, why does anything happen? Avoid the confusion of letting your idea slip in this barrage of questions that probably lack answers. It’s crucial to know exactly why your idea can fly and should become a business.
However, even more crucial is the question- do those ideas solve a personal itch or a collective itch? Remember, your idea should go beyond family and friends. So if your idea can’t solve the collective itch you will be looking to salvage that solution or redevelop the idea till it becomes a collective problem solver for an age group, a race, a tribe, a financial class, and more.
So is there a pattern or system to gaining all the information listed above? The answer is a resounding -YES and we will get to them as we help you in learning how to start a small business.
DIVE DEEPER- LEARN HOW TO START A SMALL BUSINESS
The top of the sea looks calm but a lot rumbles underneath its calm surface. Likewise a market. A market is your potential buyers and you should know their pain points, their wants, and more. A pain point is what a customer finds hard to understand or relate to about your products/services. So how do you achieve such vital information? The answer- research, market surveys, one on one interaction. Research helps you to arm your business with sustainability in the market and weapons for solutions. Also, research can afford your business proper execution after the identification of problems and the creation of solutions.
However, its biggest offering is the gift of an informed decision for the business. Simply by gathering all the information about your target audience you can effectively know what would be the best decision to make going forward. When you have done an extensive background check on your market, then you know why you are in the market and you adjust to changing demands easily. So what comes next? We will get to that soon. For best practice, an online researcher should look into comment sections to find what customers are saying.
BREATHE LIFE INTO YOUR BUSINESS
Armed with useful/ vital information coming from research. Now it’s time to draw out your business plan from head to toe, it’s time to give it life. Sometimes, starting a small business means you might not have access to the funds you need. Here’s what you can do in such scenarios- collaborative effort. As the saying goes, two heads are better than one in this scenario. Undeniably, the need for collaborators is key to moving your business forward. So find what you can offer your collaborators, it could be a partnership with a full detailed plan by your side, or it could be publicity or a platform to allow their ideas to thrive. Nonetheless, it’s all about giving them what they lack at the moment.
In turn, you get services that propel your business to greater heights. For instance, Steve Jobs and Steve Wozniak came together to offer their best. Both parties brought in their effort to equip an idea with a guideline for success. Remember at the time it was also a small business but it grew with collaborations.
Another important piece of information a proper research brings is a well-detailed structure. Effectively, a structure allows you the ability to know where or what needs fixing, if any. In other words, a structure is a guide to how you function as a small business. Plus, it helps you grow with the essentials of a business. Physical/ online presence is determined by the structure you have set up as a small business owner. What that means is the structure of your business would determine where to focus more on online/ physical presence. Finding the right location for your customers with a physical outlet will help you maximize your potential gains.
Likewise, your online location is also important and understanding which medium to use is key. For instance, a small business that deals in clothes, shoes, bags, and more would be well suited for Instagram. The reason is, Instagram houses flashy, eye-popping clothing and trends. So using Instagram is a sure way to get leverage and be in the face of your customers.
On the flip side, if you offer services rather than products then you should be looking at Twitter. The reason is simple, twitter is designed for more conversations than visual content. Everyone loves to share their views on rising issues via Twitter spaces/Twitter threads.
Contrary to the belief of most people, as a small business owner with little or no money, you can still create a brand worth selling. The question is what defines your brand? So you have an idea that you have turned into a business. what next? Creating a language for your business. As there are target markets and niche, so there are languages spoken to this market. Create yours using a language only your small business speaks. What’s more? The language creates the tone, style, pattern, and color palette for your business logo. Some might ask is it necessary to have a business logo or color palette? Quite understandable. However, you should know that when starting up a small business, identity is necessary.
For instance, you go to a store to pick up a pair of sneakers and there you find Sketchers sneakers. Undoubtedly, the logo of sketchers has told you that sneakers are running sneakers. The same thing applies to your business. Once your people know your logo they know what it stands for and they easily go for it or walk away.
EXPLOIT FREE OPTIONS
Whether you choose to start up a small business on a budget or no budget, a free option to gather tons of customers is always a welcome idea. So what better option than social media? It gives you more for less but how do you maximize its free offerings? Firstly, build a community, build a community of people who want your product/service by creating content.
Content drives media, media drives sales, and gives financial freedom. The importance of original content to utilize social media properly cannot be overlooked. Content is business/brand narrative. In the past, one would have to use TV adverts to communicate a narrative or share flyers, stickers, and more with potential customers. It’s safe to say most small businesses would be making financial expenses beyond them with that option. Hence the relevance of social media, a freer/ less cheaper option.
Secondly, social media has a reach like no other. Half of the world’s population lives on social media. However, for those small businesses that choose to keep that circle small… Believe it or not, there are people in this category. In such cases, social media account can help you keep tabs on your small community and help you keep them closer if you choose not to expand.
CALCULATED RISK- LEARN HOW TO START A SMALL BUSINESS
In case you do not have the finances to execute your plans or you fail to find a collaborator, here’s what you can do. Find financial institutions like banks, government SPP (social policy protection), and/or other avenues to avoid putting personal income into your business and face the reality of crippling your business.
Now you have started a small business but did you know all the above listed can be done by only you. YES, from market research to funding and execution. The only problem you will face is physical stress and multitasking on a different level as CEO and staff. Although family and friends can always be an option with little pay for starters and when it grows, some could be retained alongside new staff.
Regardless of how you choose to start a small business, bear in mind, starting up a business doesn’t have the best start. Although, an estimated time of significant results will show that the uncomfortable start doesn’t go on forever. Stay consistent, accept setbacks, and evaluate gains, and make your customers feel at home when dealing with your business. Learn how to start a small business, we hope this was helpful.