Beginning as an entrepreneur, for many people, starts out as a dream or a vision of some kind. For many entrepreneurs, the idea of stepping out of a comfort zone — to do what feels like the impossible — seems far too unrealistic to be believed. But, consider this: What if it is not all that unrealistic? Far too often, we convince ourselves that what is impossible is actually impossible.
So, where does it start? The “it” is entrepreneurship. Now, where does your entrepreneurship reality begin? Here’s a few points for your consideration as you begin to brainstorm entrepreneurship:
Consider your skills and how they might translate to entrepreneurship? In some cases, you may have skills that are stronger than you have allowed yourself to believe. What you may lack, in many cases, is confidence. If you are working at a job (the one that pays the bills), for a boss, you’re likely putting your talents (your potential entrepreneurship skills) to work. Think about this: Could your skills, your knowledge translate to entrepreneurship in a way that doesn’t conflict with your job that makes sure ends meet? Is your inner leader ready to step out, step forward? That inner leader could be ready to put the pieces together.
Do you know the market you plan to enter? This is where your research comes into play. Research sometimes trips up entrepreneurs before they truly get started. Imagine what your business would look like, first. Next, imagine how your business fits in with your potential competition. Are their customers for your business? Have you researched what your business would look like, from concept to the moment you begin to secure clients?
Do you have it in you to put together a plan? Having conducted your research, are you ready to build your plan? Study all applicable laws and other considerations, to start. There are third-party services that can help with your small-business startup. If your business is online, the startup money you need may not be as great as you might think. If it’s a brick-and-mortar business, startup money likely is critical. You may need to seek funding sources to help you get off the ground. Conduct research to know what you need to start and put that in your plan. Consider the following: An available name for your company, partners or not, will you have employees, tax knowledge, what type of business do you want to have, etc. Does your plan include branding? Will you have a logo (yes, you do)? These are among the things your plan will need to include.
Are you ready to develop your side hustle or or is it your primary hustle? Is this your primary venture? Or, do you have an 8-to-5 job that pays the bill. This difference could be significant.
Research, develop a plan and know what you’re getting into. If you’re carefully considering these key points, you’re off to a great start.
The biggest hurdle: fear. Don’t be afraid. Research, plan, prepare, develop and evaluate. Be prepared to repeat that cycle, continuously. After the first time, ad adjust (where necessary).
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