Do You want to Start a Business?

Are you an entrepreneur? Do you have a great idea that you believe you could make successful? If so, then you likely want to be your own boss. You want to start a business, reap all the rewards, and live the good life right? Well not so fast. There is more to running a successful business than just having a great idea. And this is where it all starts.

 

Study Before You Start a Business

Before you can start a business, you need to study your ass off. Look up your competitors, figure out why people like them, see what they are doing right, and figure out what they are doing wrong. Know your product or service inside and out; spend hours reading about your industry, and quiz yourself.

Today we have all the information that we could ever need at our fingertips. Most of us take our smart phones to the bathroom with us and we end up spending 10 minutes playing Angry Birds or getting into arguments on Twitter. Imagine this: how much further ahead of your peers would you be if you spent 60 minutes per week reading about your industry and where it is heading? After one week you would know vastly more than they do. If you are not reading, you are not learning.

 

Research Before You Start a Business

Research is the fundamental key to knowing if your business is going to succeed or not. After you have spent countless hours studying and learning every little micro-niche of your industry, you have to research whether or not your business is going to actually work. This often means hitting the streets and talking to people.

Find out what they want; figure out what they are looking for. And I will give you a hint: if you ask someone, “Would you pay $10 for this product?” you will likely get 100 yeses. When it comes time to sell that product, you will likely make $0. People will SAY they want something, but when it comes time to separate them from their cash, they are stingy and won’t do it.

Instead, you need to read between the lines. Determine what their goals and dreams are and cater to them. Know what makes your customers or clients tick, and figure out how to customize a solution just for them. If they believe you are solving their problem, then they will buy what you’re selling.

 

Test it Before You Start a Business

So many businesses look good on paper, but when they are put to the test of reality they fail miserably. That is why you have to test your idea before you spend your life’s savings on it. Here’s how that has looked in my own life:

I knew I wanted to be a business owner. I had no idea which direction I would go. So I started dabbling. I’m pretty handy, so I tested the idea of doing some construction work. I hated it. I love putting a roof on my house and remodeling my garage, but doing jobs for other people for pay wasn’t for me. So I put that into a folder that I wouldn’t pursue.

I used to enjoy computers a lot, now I find them troublesome (because I didn’t keep up with the technology as it changed). I considered opening a computer repair business with a friend that knew computers. We dabbled and one reason this didn’t work was we didn’t pour ourselves into it. That crashed and burned and we ended up making about $50 removing viruses from friends’ computers (most of which was paid in beer). Want to see how it is done right? Consider iDoctor in Billings, Montana. He planned, tested, researched and jumped in with both feet to make things work.

I developed research and writing skills in college. I knew I could do it, but never really considered myself a writer. A number of years ago a business owner friend approached me about writing for his publication. I agreed and that launched my very slow start freelance writing business. After a while I wanted to make more money writing, so I looked into it more, dabbled on the weekends and evenings, and figured it out. I spent many late nights reading and reading and reading about becoming a writer. I now make a comfortable living from home (part time) helping businesses become better ranked in the search engines by providing top quality content and other search engine optimization methods. Those are businesses like A+ Accounting & Consulting, Arentz Law Group P.C., and Mike Lee Financial Connections.

The bottom line: test before you commit, but be ready to commit at a moment’s notice.

 

Start a Business and Be Your Own Boss

Owning a business is hard work. You are constantly thinking about your business. You are constantly working in and on your business. On the weekend, you feel compelled to put in a couple of hours to get a little boost on next week. The work basically never ends; there is always something to do.

But if you do decide to start a business, you will love the freedom that you get. There are no more bosses, no more pay scales, no more salary caps, and no more stuffy offices to work in. You get to be your own boss, and all the hard work you put in shows up in a business that you built from the ground up. I know I built my business as a writer and SEO expert in Billings, Montana with a lot of late nights; and I love it.

What’s your excuse for not being your own boss?