Do you wish to start your own business? Do you need to discover business ideas? Or you want to be your boss? Starting a business in 2019 can be easy and tough both for you. It can be tough because of competition and to stand out you need to be unique, either your product or marketing strategy.
It can be easy because you can offer what you’re specialized at or with a great idea. No wonder if you’re still stuck with no business ideas, this post will help you generate one. So start 2019 with a new goal.
If you’ve had read “Zero to One” (book by Peter Thiel) then you might know why most business ideas fail because they lack planning. Even if you have a great idea, it’s incomplete without a proper business plan with proper execution. If you don’t consider planning before launching your business it’s hard. But if you’re setting goals, and planning adequately, along the way, it will make your journey quite easy.
There are some reasons why new business persons or entrepreneurs don’t start or are afraid or give up too early. You don’t have to be one of them, doesn’t matter if a few months don’t bring much change but if you’re consistent and focus, you’ll grow your business.
Let’s get into how you’ll discover business ideas and steps you need to take.
1. Lack of funds.
It’s a problem with a mostly new startup, but you need to find funds. Places like 500 Startup, AngelList, Product Hunt, etc. can get you funds from investors. Here is an article that can help you raise funds for your startup or will give you detailed information on funding. Though I don’t know much about funding or investing, I can guarantee you, if you go with complete planning you can break through this.
One of my friends wanted to fund her startup (let me know if you want to know in-depth about her fundraising) at the beginning of 2017. She approached more than 1000 inverters, she was rejected by almost all of them and got funds from 7 investors. So, my point is, in the beginning, it’s going to be hard but some people will find your idea willing to invest in. So, keep looking.
Some businesses don’t require funds, such as online businesses. You can either start with no investment or with minimum cost. Keep reading to find how to find a perfect online business for you.
2. Not having the right employees.
Starting at the small stage doesn’t require you to retain employees. Even if you want, what I would suggest you do is, hire people for such a position where you find difficulty in doing or it takes too much time. Don’t hire people for positions you’re good at. But, invest in yourself rather than buying employees. Enhance your skills and utilize yourself as a resource. This is an excellent investment and will perform you higher ROI.
But at some point, you do then go with the strategist approach. Also, don’t hire freshers or less expertise in that field. This can cost you a lot, as you would have to spend time developing there skills and training. If you’re having an issue then read this article.
3. Lack of confidence.
I have seen many people telling me that they have a great idea but are afraid that the idea might fail. To bring your idea into life, you need to be confident; focused; have to work hard and not to give up no matter how many times you fall, just be patient and confident.[Tweet ““The things you regret most in life are the risks you didn’t take.” – Farhan Masood.”]
You won’t become a millionaire by starting a company in a tick. Set your goals and plan out ways to reach your goal. If you don’t have finance, don’t worry you can always start from zero or get investors. You don’t need money when you start or just some hundred dollars to get it registered (you need to have for that), is enough.
And remember, if you’re providing any professional service, first get a degree or qualification relevant, that could give you plus point why people should take your service. If you choose a skillful business, like Designing, be expert, unique and serve your best.
This guide will show you how to discover business ideas step-by-step. These steps are your foundation and everything you need to know how to start on your own and secure your success farther down the line. This is the advice you need, but rarely ever take.
But even doing just the easy parts of this can save you a lot of work down the line. Now, there is no cookie-cutter way to get successful, and this guide doesn’t try to give you that. Instead, this is all the steps you must take, but they need to be done in your way.
7 steps to discover business ideas
1. Find what are you good at.
First thing first, take a pen and paper write down what things you are good at, your skills, things you can offer people and how you can help them. If you already have some skills, great. But if you don’t have skills or interest, subsequently develop them. You need to possess some skills or interest, you don’t need to be professional or expert in it (in beginning, but by time be professional).
Next, what you need to do is, from the list you made, find skills or interests that can be converted into monthly income. This will help you figure out where to start and do what you love. Suppose you’re good at Social media marketing and you can turn into a social media marketing expert.
2. Research For Business Ideas
Next, research the requirement about the ideal skills or interest required for your business idea. Search for job posting under companies, suppose if your idea is to start social media marketing then look for requirements under job posting of various companies. This will give you an idea of what you have and what you still need to expertise in. Now don’t stop and learn the required skills before you start. Go with what you have and keep learning through the journey.
What I would advise you, start with doing some freelance work. Get yourself registered on different freelance websites. Upwork is considered as the best website for a freelancer, but it can get a little tough (though I don’t know whether it’s the same as before or not, I’ll verify soon). When I applied for Upwork I got rejected for the first time and many times afterward. But after applying too many times I got my account accepted.
What you have to do is fill your application, not just intro but complete with rich content and include keywords and related words.
3. Setting Goals & Mission
Now it’s time to set some long-term and short-term goals, along with your business mission and vision. Your long-term goals can be something like expanding services or products, which you set for the next 2-5 years or less. Your short-term goals include daily, monthly or for 6 months’ bases. It’s worthy to set goals and missions to keep yourself focused on development and improvement. List down all your goals and mission and start working on it.
4. Do some work for free.
You’ve discovered the business ideas and set goals, now it’s time to act upon them. You neither have work experience in your field nor you did any projects. It’s good to start with freelancing or doing work for free. This will not only help develop your profile but also will give you some experience. I’ve met some people who started their business as a freelancer and now they have a company with 20+ employees.
Invite people, if, in any way, you can help them for free. If it immensely helped them, ask them to spread about your work in return or you can ask for minimal charges. One time you offered your service for free, next time you might end up with a big project. You can consider people from your family, friends or through your social media account.
5. Start blogging
A blog is the best way to express yourself and to connect with people. You don’t have to be a professional writer or something. All you need is good grammar (or you can correct it by using online tools) and tell stories that attract the audience. After all, you can monetize your blog and earn from it. Remember to write for your user not for search engines, because at the end of the day they are the once how will encourage your work and like it.
To start blogging these are the things that I would recommend you:
- Get hosting from BlueHost with free Domain for a year. Why? For many reasons, when I first started I used BlueHost, their prices are low for the first year and you get 1 domain for free. There customer service is really on point, I’ve never found any difficulty from BlueHost. Once I wanted to get a refund after 5 days of purchase, guess what, I got a refund of the whole amount I paid.
- Use easy to use and simple website theme.
- Monetize your blog. There are different ways to do so (read here). Select the ones you’re most comfortable with and have passive income.
6. Market your work.
How will people reach you? How will they find you? When they don’t even know you. The only way to attract more customers and recognization to your work is through promoting it. You have to market your work to an appropriate audience so that they can reach you.
Spread the word, let everyone know what you do or offer. Market work through blogging and social media. It’s not necessary to be on every social media platform. Find the best suitable platform and be active on it. This will you find work or projects or clients through social media.
Remember don’t try to sell yourself, be helpful and selfless because you never know sometimes working with these people may turn you into something different and huge. You can, on top, develop your website and showcase your projects.
Your website doesn’t have to be fancy, at beginning it is a good idea to keep it simple and easy to navigate. There are different ways to market your business and we have created 100+ ways to do so. Not just on Social media, also promote your work through blogging.
7. Start networking
Till now you have done so much great work but this isn’t enough. Create a community or network that will help you expand and develop also lets you reach to potential clients. To build networks start by attending social events, meetups and develop other ways to build your networking circle. This will help you contact people to a similar mindset and business and a tremendous opportunity to grow yourself.
There are many communities under your niche to be part of, just Google them.
That’s all for now!
This is the procedure I’ve followed way back and it helped me a lot. It doesn’t happen overnight but with hard work and consistency. One more thing it’s fast and easy to create a personal brand than a corporate brand. If you want to create a corporate brand what you can do is create a personal brand and then turn into a corporate one.
This blog post assists you to discover business ideas and start living as your boss. But this is just the beginning, you have to perform a lot of marketing to grow yourself and your business. Remember you can always start small, from your home and expand your business afterward.
So, stick with us for more exciting business tips and growing yourself, but everything starts with marketing. So tell me how did you discover business ideas, leave a comment below or we can chat in private.
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