Respect Yourself .
Let’s start with the most basic question: Why do you want to start a business? Use these questions to determine what business you want to start. If you want extra money, you may want to start a side job. If you want more freedom, maybe it’s time to quit your 9-to-5 job and start something new.
Once you know why, ask yourself even more questions to find out what type of business you should start and if you have what it takes.
What skills do you have?
Where’s your passion?
What is your area of expertise?
How much can you spend knowing that most businesses go bankrupt?
How much capital do you need?
What kind of lifestyle do you want to live?
Are you even ready to become an entrepreneur?
Be honest with your answers. This will set the stage for everything you will do in the future. Therefore, it is better to learn the truth now than later.
And when you’re ready to start a business, it’s a good idea to answer the following questions:
What problems do I solve?
Answer this: My product solves ___________________. If you can’t answer it, stop here and go back to the drawing board. It is important that your product fulfills a need because it determines its value.
The Rework book compares entrepreneurship to itching and then scratching it. The “itch” is your problem; The scratch is your decision. My particular concern is the loss of self-esteem in children after hair loss from chemotherapy. Bando Harapan, which provides headbands for children during treatment, is my project.
When you think of solving a problem, you usually think of functionality. For example: a coffee cup that keeps your coffee hotter for longer. Or a suitcase that can be compressed so it doesn’t take up much space. However, a need can also be something that is less clear and still has value. Example: An offline media app tells you what’s happening in your city if you live in North Carolina. The need it satisfies is to get people “offline” and out.
2. What funds do I need to get started?
Maybe you dream of opening a shop to sell your handmade chocolates. Still, that’s a lot of money you’ll need upfront to open a shop, especially if you haven’t tested the concept yet. Instead, do what you can to use as few organic growth supplements as possible at the start.
Sell your chocolate at farmers’ markets or online when you can. When I started my business, I had a very limited number of styles to choose from. After selling them, I used the profits to expand my collection.
Think about what you really need to buy to get started, rather than what you ideally want at the bank. Your number may be smaller than you think at first.
3. Who else does this?
You can’t play the game if you don’t know the players. Take a simple Google test to see who else is doing what you’re doing. Just because other people are selling chocolate, doesn’t mean you can’t sell chocolate too. However, you need to see what the competition is like to decide if you can offer something better.
4. What resources are currently available for me to get started?
Remember, in “Cast Away” when Tom Hanks’ character opened all the floating packages and diverted them to survive? This is the mentality you need to have as an entrepreneur.
I hear too many people tell me what they don’t have. I’d love to hear what you have access to and how you plan to use it. I founded my company during my studies. Even though I had no money or experience, I focused on what I had: professors (those closest to industry experts) and access to numbers (students).
I worked with various professors to develop business plans and create products and websites and everything else I needed to get started. When I was ready to leave, the students were my first customers.
So make a list of everything that can help you: people you know, finances, skills and more. You’ll be amazed at how imaginative you can be, even when you feel limited.
Another question people ask before starting a business is, “Is now the right time?” I’m going to spare you that question because no time will ever feel right.
But let me tell you: If you really want something, then make time for it. Starting a business isn’t about matching the stars and feeling 100 percent confident. Starting a business means your passion and enthusiasm outweighs your fears and doubts.
These questions may not give you a definitive answer, but when you find that you keep coming back to the same idea every night when you lay your head on the pillow, you know you’re thinking about something that’s been on your mind. Sometimes that’s the only answer you need.
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