So you wake up one morning and felt like starting your own business, you have this creative idea in your head of how things are going to turn out, the layout, and all the amazing customers that will be pleased to patronize.
You are all hyped up with this idea and ready to go all-in into whatever idea you have been fantasizing about but before starting your own business there are few secrets you need to know.
There are so many things to know while starting your own business but at this early stage of this blog post I really don’t want to bullshit you so let me be upfront with you. Most times ideas are beautiful but have difficulties being financially beneficial.
Look around the world, believe me, there are people with beautiful ideas and if it was left to ideas alone everybody would have become rich in their own little ways and little place but this is the opposite. We walk around the world today and see failed business and failed ideas that you even get discouraged in starting your own business.
Go out into the world and tell someone your glamorous ideas and you will figure out that they are likely to talk you out of it. Not because they know what will actually happen or why a business will fail but because they have seen so many people waste and burn money into a business that couldn’t withstand itself.
So why do all this happen and why do people continuously fail at their beautiful ideas even when they had everything or thought they had everything in place. This question is what many people fail to ask themselves.
When starting your own business or when people decide to start a business nobody takes the time to learn from the mistake of the other man but rather they want to tell themselves they are not the other man and can actually do better than the other man.
Everyone falls for this same scam and everyone makes the same big mistake in their endeavor in making money and taking care of their family.
At first, it is your ideas and they are beautiful but you also want to recognize that it is not the other man’s idea and neither will he find what you find beautiful and to add salt to injury he might not even want what you thought was beautiful that’s leading you to start your own business.
Wants is what matters, the wants of people, not your wants and this are where we miss most of the point when it comes to business. We are so self-obsessed with ourselves we don’t take time to bring others into the picture. Our ideas are so beautiful and tempting we don’t take time to ask ourselves do people really want this.
You and I know that your families and you are not up to one-quarter of the people that are meant to patronize your business so it can actually grow and be beneficial to you. You need a huge amount of strangers and not just all strangers but strangers interested in whatever you have to sell.
But with this mindset, we still end up planning for ourselves and leaving things to chance alone. In starting your own business we don’t go further in trying to discover what the public needs or where we can find people that share our personal views and ideas and be willing to part their money for it.
People fail in business and conclude so many reasons led them to why they failed but they never take time to tell you they failed to do the proper market research for whatever they were trying to pump money into, they don’t tell you that they failed to put the microscope on the public and trying to find what was missing but now you know so let’s get into the next phase of what you need to know when starting your business.
Things you need to know when starting your own business.
The first thing you need to have at the back of your mind while starting your own business is that it is not about you. Yes it is your business and you are the one running it and will be carrying out all the risk but it still not about you.
It is about the other people you will be serving and giving your product. We always hear customers are always right but we never see how right they are in determining the success of businesses.
If they don’t want what you are trying to offer them then they won’t come, these people are so important to starting your own business that you need to take the necessary time to be curious enough about their needs and wants, you have to know what they want and why they want what they want, you have to know how to serve them and provide the things they want.
You can’t just leave all these things to chance and tell yourself that things are going to sort themselves out. Believe me when it comes to money things don’t usually sort themselves out. Money is reactional, we give something in exchange for it, it doesn’t just fall from the sky into our laps. In starting your own business you really need to encode this straight into your head
Secondly how market fit is your product? After making all this research about your customers how does your product or whatever you have to offer fit into that umbrella or rather into what your customers are craving for or want in their life? Does this product or business idea have a high demand in the market space? Do sufficient amount of people truly interested in what you have going on?
You see, whether you like it or not demand is what moves any business. To understand how successful starting your own business will be you should study and research the demand of that business, when you fail to do that you are setting up yourself for failure.
Unless you have million-dollar marketing and advertising budget creating a new demand can be like a day-old child trying to walk, if not impossible, it is hard and difficult. You are safer jumping in on an existing demand that is flourishing and the go-ahead to create your own supply chain.
This is where I end today’s article, I hope you had fun reading it and ready to implement this into your life. Remember this is an open discussion and your comment is expected.
You can check out my books, Why relationships fail (uncovering the truth and finding solution) here and 31 days of self-development (getting out of the victim mindset) here. A little investment into knowledge can be that great change you have waited all your life for