Starting A Business- Part 2
March 1, 2010
Starting a business is a noble decision and so you should feel good about the journey you are about to take. I hope you have read part one of this topic, where I shared the importance of serving your customers. If you have not read part one, please go to my blog site and download a copy from there.
There are numerous ideas you can generate to start a business, but like I said in part one, serving your customers should be taken seriously throughout the process. To serve your customers effectively will call for an understanding of their needs and want. It does not matter whether you are planning an online or offline business, this principle applies to any type of business. Ignore this basic principle at your peril because sooner or later you are going to find that your market is your boss. Offer them what they don’t want, and they are off to another supplier. That is just the way things are. So let me ask you these questions now:
1. What is your motive for starting a business?
2. Why do you want to start a business?
3. Is your motive balanced?
4. Will your motive lead to a sustainable business?
Do take your time to answer these questions. Starting a business well is better than starting one in a rush and paying a big penalty later. Read a copy of My Business Is My Business- Learn How To Earn A Fortune, and you will gain practical insight on what it takes to start a business. The book is loaded with lots of stories about good and bad practices of budding entrepreneurs, as well as established businesses. The book takes you from ground zero to ground hero. You will find out about some of the myths around money and how these myths stifle creativity and ultimately business success.
Assuming you have taken the time to answer these questions, your next task is to find out what business is most suited for you. You are far better off building a business around your passion than building one around something you don’t really like or something someone else suggested you do. Remember, business is about serving. If you don’t like what you do, it will eventually affect the way you relate with your customers and of course hurt your dreams and financial aspirations. To get started, you must identify your passion and find ways of turning it into products and services.
The process of identifying your passion is not that difficult. However, many entrepreneurs I coach, very often needs help from a supporting third party to draw out their true inner passion. I always tell people to go back and look at their lives and identify those things they love to do. Very often, we take these things for granted and underestimate their real worth, choosing instead to pursue that which we are not passionate about. To take this one step further, let me ask you another question. What can you do for free, everyday, if money was no object? That my friend is where your passion lies. It is that simple, don’t complicate it.
Let us assume you are passionate about children. You love children darely. You may want to build a business around children. There are so many things you can do around children and you can easily build a business around themes relating to children. You can sell children’s clothes, you can write children’s books, you can care for children and you can sell children’s games or toys. The list is endless.
Once you have an idea of what you want to do for children, the important thing is to know the age range of children you want to serve. That age range is your target market and understanding their needs and want will be the next step. As part of my coaching, I always take budding entrepreneurs through a series of step to clarify their ideal market. Clarifying your market to the lowest possible denominator is critical in business. If you don’t do this properly at the initial stage, business planning will be challenging and so will marketing. There is nothing worse than trying to sell to the wrong market just because you did not clarify the target market correctly at the initial stage. To find out more about how to identify your target market, download a copy of My Business Is My Business today from my website.
Sheila Elliott is an expert in business and personal development strategies. She is the founder of Business Services Support Limited and the author of My Business Is My Business- Learn How To Earn A Fortune. For more information about our free articles visit, http://www.businessservicessupport.com
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