Step 1: Determine what you would like to offer to the consumer.

First you want to think over these key questions:

•    What do you have that they want?
•    Why are you proficient at what you have to offer?
•    Do you have the proper knowledge and skills to be successful in this field? Or are you going to have to take some additional training?
•    Is this product in high demand and is something people are going to want to buy?
•    Can you sell your product only seasonally or can you sell it all year long?
•    How well can you sell this in time of economic trouble? If the economy is bad how well do you think you will do?
•    Do you think you will be motivated by doing what needs to be done in order to start you business properly? Is this something you will love to do or are you just doing what needs to be done to make some extra money?


You should “do what you love and love what you do” because it will be harder for you down the road. You will not feel like doing the work later on because you will not enjoy it.

If you love what you are doing with your business your customers will notice it, and it will be a lot easier to get more and more customers to come back but if you are not excited then that will also show and no one will want to come around your business if you do not love what you do.

 


Step 2: Know your trade and know your competition


When starting out with your new business it is important to know what you are getting into.  Like understanding the marketing aspect of starting a small business and the potential market for what you have to offer and knowing the value of your business is important. Here are some questions to ponder upon:

  • Who o is going to want what you have to offer?
  • Are you going to sell to companies or to regular buyers or are you going to sell to both?
  • What characteristics do you think the consumer will have?
  • What demand is there in the market for what you are trying to sell?
  • Are your products unique enough to be able to beat those that are selling the same thing as you?
  • How will you set yourself apart from the others?
  • What is the advantage you have over other people? What is going to make consumers buy your product over someone else?


Step 3: Make sure you can do what needs to be done before starting your home or small business


Before starting a business, you need to carefully consider all the small tasks that need to be done daily. You need to make sure they are going to get done properly. Either by you or someone you have to help you.  If they do not get done properly it is not worth it to you to start your business, because people want a business to run properly or they won’t want to buy from you.

Consider this question as honestly as you can; Are you going to want to do everything required to do your job properly?


Some things to analyze are:

    • Scheduling appointments
    • Requesting supplies
    • Keeping record of what comes in or goes out like supplies and money.
    • File records
    • Answer  the phone
    • Look at and respond to email

If you have the money to pay someone to some of this for you then that is fantastic but most of the time small businesses are a one man show starting out with very little money. So you are going to have to do everything by yourself or not do it at all.


You are going to want to think long and hard about starting your own business because if you are going to get bored with the little things then you won’t have time to do the part of the project that you love to do. This is the part that is going to make you money.