The 9-to-5 grind can make you feel like a just another cog in the corporate machine, constantly punching the clock for someone else’s vision. One day, while dreaming of the world outside the cubicle, you have your big “Eureka!” moment–you’ve come across an idea so perfect that you need to start your own business around it.
Coming up with the idea is the easy part. Now, you’re thrown into an entrepreneurial world where even the experience businessperson can feel overwhelmed by all the details. It’s hard to know where to even begin.
So here are some tips to starting your own business:
– Craft a primitive budget: do you have enough capital to get this idea rolling? Call in favors from everyone you’ve even leant money to in the past in need be.
– Does the business world need you?: is there a large enough demand for your product?
– Create a strong management team: your team members should share your vision of the own business, and a certain amount of proficiency and credibility. Rely on your connections to find the perfect people for the jobs that will bring their expertise to the business.
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– Start small: instead of immediately trying to market your product to 5,000 companies at once, focus on a few dozen specialized local companies to network with. This way you can call them each personally, mail them your marketing materials, and then arrange a meeting.
– Quality matters: you want to be able to set your self apart from all the other businesses similar to yours. Creating quality marketing tools doesn’t have to cost you a fortune either; consider hiring a design art or marketing student from a nearby university to help out. You never know, you could even meet your next Junior Executive.
– Come up with a good business plan: keep it less than 25 pages, and include information about your management team, who your customers as, and most importantly, why the world needs your business. At this stage in the game, don’t over-focus on the financial side of things yet.
Bhuvnesh Bhushan Dohare is a member of the ‘Wideinfoweb Organisation‘, whose aim is to seek out and distribute business information to the virtual public. He is a freelance writer based in Vadodara, india who loves writing about anything from accounting to zebras.
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