Steps to start a successful business

1. Identify the right business for you.

How do you know what business is “right” for you? Ask yourself “What gives me energy even when I’m tired?” Three common approaches to entrepreneurship:

Do what you know: Have you been laid off or want a change? Look at work you have done for others in the past and think about how you could package those skills and offer them as your own services or products.

Do what others do: Learn about other businesses that interest you. Once you have identified a business you like, emulate it.

Solve a common problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest-risk of the three approaches.) If you choose to do this, make sure that you become a student and gain knowledge first before you spend any money.

2. Business planning improves your chances for success.

Planning helps you gain clarity, focus and confidence and getting market faster.. It shouldn’t be more than one page. Ask yourself the following questions:

  • What am I building?
  • Who will I serve?
  • What is the promise I am making to my customers/clients and to myself?
  • What are my objectives, strategies and steps to achieve my goals?

3. Know your target audience before you spend .

Before you spend money, find out if people will actually buy your products or services. This may be the most important thing you do. You can do this by validating your market. What is the size of your target market? Who are your customers? Is your product or service relevant to their everyday life? Why do they need it?

4. Choose the right kind of money you need for your business.

As an entrepreneur, your personal life and business life are interconnected. You are likely to be your first — and possibly only — investor. Therefore, having a detailed understanding of your personal finances, and the ability to track them, is an essential first step before seeking outside funding for your business.

5. Build a support network.

Network locally, nationally and via social networks. Join networks such as your local chamber of commerce or other relevant business groups. Here are some networking basics:

  • When attending networking events, ask others what they do and think about how you can help them. The key is to listen more than tout yourself.
  • No matter what group you join, be generous, help others and make introductions without charging them.
  • By becoming a generous leader, you will be the first person that comes to mind when someone you’ve helped needs your service or hears of someone else who needs your service.

6. Sell by creating value.

Focus on serving others. The more people you serve, the more money you will make. When considering your customers or clients, ask yourself:

  • What can I give them?
  • How can I make them successful in their own pursuits?

This approach can help lead you to new ways to hone your product or service and deliver more value, which your customers will appreciate.

7. Take a stand for yourself.

If you are dissatisfied with your current circumstances, admit that no one can fix them except for you.

8. Get the word out.

Be willing to say who you are and what you do with conviction and without apology. Embrace and use the most effective online tools (Your Website,Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news.

Even though social networks are essential today (you must use them!), don’t underestimate the power of other methods to get the word out: word-of-mouth marketing, website and internet marketing tools, public relations, blog posts, columns and articles, speeches, email, newsletters and the old-fashioned but still essential telephone.

It’s important to remember that you are not alone. If still feel stuck, reach out and connect with other entrepreneurs in a variety of ways. You may be surprised by the invaluable contacts that are right at your fingertips.

1 Comment

  1. דירות דיסקרטיות בירושלים

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