Starting your own business requires a big leap of faith. It necessitates stepping outside of your comfort zone and experimenting. Why wait if that notion appeals to you? Being the CEO of your OWN COMPANY is the next step you’re prepared to take. Although a lot of labor and even some risk is involved, the potential returns are enormous. Here are a few simple steps to get you and your future business up and running.
Focus on a Passion Project
You can move mountains with your passion. People may take your words, ideas, and even your goods, but no one can take that drive away from you when it comes to your passion and drive for business. With a small business, you have to be prepared for your work to take up a large amount of your time. Therefore, be careful to do something you enjoy. Make the most of the experience by doing what you truly enjoy. When you take a step back and look at the bigger picture, you have a plethora of company ideas and directions to choose from. Examples of potential businesses are creating a product, running a taxi service, launching a headshot photography business, or even beginning a pet-sitting business. Some creatives even opt for an online sticker store; this is a favorite among small company entrepreneurs. This is a cheap and viable business concept, but you can still reap the many benefits of being your own boss with your own vision. Take your time to think about what you want to do, and then stick with it!
Research Your Market
Now that you are clear on your company’s basic vision and personal goals, it is time to begin your study. Start by looking up relevant terms for your industry on Google to discover what other people are already doing. You can choose an existing practice as long as you are confident in your ability to enhance the current business model. Alternatively, you may also choose something and create something entirely new. It all starts with good research.
Set Financial Goals
Sure, you didn’t establish your business just to make money, but if you want longevity, you must set reasonable goals and use a dashboard to monitor key business KPIs. Set modest initial objectives and progress upward. Start with daily objectives. Make sure that every step you take advances you toward your main objective, which should be to maintain your business.
Create Sharing-Friendly Content
If you select a website development platform geared for SMB use cases, you’ll thank yourself later! Many entrepreneurs believe constructing a website and providing content is sufficient to get things moving; however, this is just a small piece of it.
One of the first things you should do is build a simple, easy-to-read website if you haven’t already. Now is a wonderful time to start building your online website or portfolio because it will serve as the foundation of your advertising and marketing plan.
You can then make content and market it after you have a website. The next step is to make that material memorable. You need to address the customer’s need and their pain point or show them how your product or service can assist them in solving their issue through that material.
The entire process of running a small business depends on marketing. Since it will be in charge of almost all customer communications, you must include it in your business plan. This includes branding and public relations, events, affiliate campaign optimization using a variety of new software, competitive analysis, analytics, and many other strategies that will help you succeed in a specific niche. Take extra care to create and regularly evaluate your marketing plan and strategies each quarter.
Build A Following
When you start your business, be careful to influence the people who can utilize your goods and recommend you favorably. The goal is to create a product or service that people will want to share with others, not merely make a product and sell it.
Create an email list first. Provide product updates and write informative blog entries that address the problems your consumers are experiencing. This may appear straightforward at this point, but it will soon become complicated. This is why you must plan beforehand in case something doesn’t go as planned.
Launch A Product You Can Sell
Starting with something you love is OK. However, you must develop suitable selling techniques. Learn about selling fundamentals and take some branding classes. Learn how to sell clients on your goods. These small actions have a significant effect on sales.
If you’re ready to introduce something completely new, follow the first piece of advice and conduct market research before launching your offering. Being fresh and different might be intimidating initially, but all you have to do is be creative! For those struggling to find the perfect present for a loved one on a particular occasion, you may create an online store specializing in gifts. There are countless options, whether it be for employee gifts, thank-you gifts, or retirement presents.
Focus On The Why
When beginning a new business, knowing WHY you’re in it is a crucial first step. Because whether you realize it now or not, you will eventually be on your road to discovering the WHY behind your company.
Many business owners believe that the joy is in the money-making process. That is just not the case. The entire learning process in itself is what will be enjoyable. When you experience self-transformation, you’ll never again perceive entrepreneurship in the same way.
About Kye Giscombe
Outstanding management skills, an innovative mind, and an entrepreneurial spirit have propelled Kye Giscombe to top positions in various business sectors, including law, real estate, construction, fitness, and retail manufacturing and operations. His career reflects nearly 20 years of executive-level management, marketing, business analysis, and investing experience, serving as a key decision-maker in existing corporate, start-up, entrepreneurial, and expansion environments.
Among the several successful companies he created over the past two decades are Cosmo Horizon Inc., a commercial construction management firm, and Contact Sports NYC, a sports apparel manufacturer. Giscombe attributes Contact Sports NYC’s success to collaboration with colleagues Frank Drohan and Irving Brothman, a top executive at Burlington Coat Factory.
Giscombe attributes his business success to his ability to analyze the viability of project ideas, design products and services that appeal to new growth niches, develop creative strategies to achieve goals, and implement processes that produce significant profitability and a loyal customer base. He relishes the challenge of creating new entrepreneurial enterprises and finds inspiration in planning projects he’s passionate about.
A resident of Alpharetta, Georgia, Kye Giscombe enjoys motorcycles, tennis, working out, reading, and traveling when he’s not concentrating on business.