3 Tips for starting your own business

What was your first thought when you read the title of this article?

Did you think - NOT FOR ME, SOME DAY BUT NOT NOW or JUST WHAT I NEEDED.

Whatever your initial thoughts, good thing is, you are taking the trouble to read this so means you are at least curious to know and that is a great place to start - curiousity.

I have always been an advocate of people owning their business and diversifying their income and from my conversation with most people, the real reason for not doing so is not so much a lack of interest as it is a feeling of overwhelm that comes with the thought of starting.

Let me clarify very quickly, I am not asking you to quit your job today (please don't).

All I am hoping to accomplish through this article is to spur you into giving thought to the possiblity of creating a business that can start generating you an extra income and to arm you with a simple roadmap which gives your clarity and courage to take action.

Without going into great detail, let me quickly share three reasons why I think you should own a business;

1. Creative expression and mental stimulation - running a business pushes you to be more creative as you figure out ways to make it work. This goes a long way in keeping you mentally stimulated and the lessons learnt through this process are transferrable and will serve you in other areas of life
2. Self-worth and confidence boost - your ability to create something that someone will pay for is a massive confidence booster. It serves as a seal of validation that you are able and worthy to bring value to the world and you belong here. Your first sale (big or small) will change your life.
3. Time and Financial freedom - when starting out, your business will probably take more time and money from you that it will give you BUT as it grows and begins to make money, time and financial freedom is a reality that can be attained. Having a business that is yours which generates an extra income monthly makes you less dependent on a 'boss' or a paycheck and you can begin to live with passion.

With that out of the way, below are my three simple steps for starting your own business:

1. Research: it may seem obvious but I have spoken to enough people to know that it is a step that is often missed and which can quickly determine the outcome of the business. A successfull business is built on the need of the market so first thing you want to do is identify what the market needs and what people are willing to pay for. Google is your freind here. Spend some time researching and then ask around and speak with people to establish that a need truly exists. For this I recommend coming up with at least three potential needs in the market that can be turned into businesses.
2. Identify Skills and Passion: once you have found three 'needs' in the market, the next thing is to find out which of them best aligns with you skills and passion. There are those who say passion is not important but I beg to differ. I think you need to not only be skilled to meet the need but for you to be able to sustain your service, there must be a level of passion which keeps you committed. Trust me, money alone is not enough. Hopefully, by the end of this exercise you will have settled for one of your ideas and now we can more to the next step toward starting your own business.
3. Start: I think 80% of people with a desire to own their own business get through step one and two but never actually START. So here is my advise on this, don't wait till you are not afraid, don't wait till you think you have it all figured out, JUST START. What I have found to work is to commit by announcing your business and letting people hold you accountable. Post about it on social media, talk to friends about it and very importantly GET YOUR FIRST SALE. Once you get that first sale, you will be amazed how excited and encouraged you will be to keep going.

There you have it.

Follow these three simple steps and you will be on your way to building a successful business of your own. Of course this is by no means an exhaustive outline of all that is needed but it is enough to get you started.

I have established several businesses in the past and currently run a few as well so if you want any advise or help with your process of getting started, please feel free to reach out and I will be happy to help.

Let me leave you with a quote I really love which says "you do not have to be great to get started but you have to start in order to be great".

I hope you start.