Having a business idea is the first step to becoming a successful business man or woman..”
Seven out of ten people feel the urge to start up their own business; the urge to be their own boss and enjoy all the luxury that comes with it.
The thought of not being fired or laid off, not being queried by anyone or having to wake up as early as 5:00 a.m, beat traffic, sit in an office all day long just to make ends meet can be very soothing but the honest truth is; starting a business isn’t as easy as the thought comes.
Bear in mind that launching your brand has really higher highs and lower lows.
Launching your own brand could be difficult but the following steps will minimize the stress involved and keep your business going.
How To Start A Successful Business
1. Find A Problem You Can Solve
The most important thing in a business to draw in customers is that you have working solution to their problem(s).
All day round, we all find seek help and solutions to our problem.
If you can provide a quality one that is in demand, you are a step ahead already.
The difference between an entrepreneur that succeed and those that fail is simple.
Those who succeed add value to their products and services and their customers keep on coming.
If you have an idea that does not solve any problem or add value, then you should probably rethink it before starting.
2. Love What You Do
Whatever your idea is, if you think it is a very good one, find a way to love it.
The reason why most people give up at the beginning of a career when things are going on smoothly is because they don’t love what they do.
Trust me, I can blog for months without receiving a kobo and still enjoy it (Unfortunately, that can’t happen anymore because I am the master of my game).
Whatever your idea of business may be, let your passion drive you, it will make starting up a business more fun and enjoyable than stressful for you.
I tell my friends something, here’s it.
“Most footballers (except greedy ones) will continue to play football even if their salary is reduced such that they can only live an average life, because they are doing what they enjoy doing”.
Note the difference.
They are earning because they enjoy football and put in effort. They are not putting in effort because they enjoy earning.
Think about it and let’s move on.
3. Be True To Thyself
Honesty is the most important key to a great business.
Being honest with yourself makes you a better business man or woman.
Ask yourself the big question – Are people really in need of my service?
I will repeat it again – The value you add to customers is what will make your business successful no matter who your competitors are.
The larger your customer base, the larger your business.
Making researches and quick surveys are the only ways to prevent yourself from being completely ignorant.
These researches will be the foundation of the growth of your business.
4. Do Intensive Research
Let’s say you want to go into Snail farming business in Nigeria and you don’t have any idea of how it works.
You don’t just look for a Manager and invest right away.
You want to make sure you carry out proper research about how it works and everything.
That way, you can be sure of making a proper final decision (whether to start or not).
5. Just Start Anyway
Starting small shouldn’t be your greatest fear or discouragement.
You will hear people say things like, “I don’t have enough capital to go BIG and compete”.
Do not be afraid to start small.
Literally, most great businesses today, started small.
It doesn’t matter if you have only one customer per week, it’s a matter of time.
6. Get A Good Business Name and Logo
Coming up with a business name and logo is one of the most creative parts of launching your brand.
To some, it is very easy to come up with a business name. For others, it is not.
Either ways here are a few ways you could get a brand name:
- Using Acronyms: Try the initials of your names or a phrase that you like, then you’re good to go.
- Use Nicknames: Using your nickname makes it easier to identify you and your business anywhere in the world.
- Switch Up The Spelling: This is a lazy-man-method yet a creative way of coming up with a brand name. Picking a word that conveys a meaning that sells out your brand but changing a word or two, spelling it out the way it’s pronounced too.
- Use Your Own Name: Sometimes you may want to sound so professional that the need to use your birth name arises. If all other options don’t satisfy you, using your own name is the best way to be sure. For example, neilpatel used his name for hist blog (neilpatel.com) and even his digital agency.
Whatever name you pick, remember these 2 things:
- Make it easy to remember
- Make it pronounceable
- A logo is another important thing you need to get. If you need a professional logo, you could hire a designer around you or hire a Freelancer on Upwork.com.
7. Develop Necessary Skills
The secret to owning a successful business is being versatile; the ability to participate in all branches of your business makes you more independent and proficient.
Well, there are also people who spend huge amount of money on people who have these skills instead of learning it themselves.
Developing new skills helps you develop as an individual and this development will reflect in the growth of your business.
Whatever business you are going into; some skills are just as important as the main service or product you are selling.
Here are a few skills you shouldn’t fail to acquire;
A. Good Communication Skills
If you cannot communicate, you cannot be a successful business man.
People will not be convinced about your product/service even if it seem convincing.
It is as simple as that.
Your customers want to listen to you and here you tell them what you have in store for them.
In the world of business, extroverts tend to be more successful because of their ability to be very social and communicate easily.
Communication is key to all forms of business relationships.
Do not be afraid to walk up to a random person to tell them what your business is about, you might meet your biggest clients this way.
B. Leadership Skills
If you run a business where you feel the need to employ people, be able to take action when necessary.
The ability to give orders in the politest and authoritative way is essential.
C. Time Management Skills
D. Marketing Skills
E. Listening Skills
Now, let’s move on.
Advertising is the easiest way to put yourself in the business market.
Make your brand known, you need to find the right advertisement platform.
It doesn’t have to involve paying huge amount of money (though, it pays when you find the right platform to invest the money in the case otherwise).
A good way to start is your locality.
It is called free advert!
Before you go on to tell people you don’t know about your business, why don’t you tell the people around you who know first?
Tell your friends and family first, let them patronize you.
Another free advert you can use is Social media.
Facebook, Twitter, Instagram and others are very powerful tools that you need to leverage on to expand your customer base.
Other advert platforms you can use include:
- TV commercials
- Online advert
9. Learn, Expand And Diversify (LEAD)
This is what I called L-E-A-D.
If you want to be a front runner, you need to learn new things, keep up with trend, expand your business.
It is cool to have a lot of sales and have loyal customers but that is not the end.
Whether or not that will continue to happen, will depend on your ability to LEAD.
Expansion puts your business in the local and international market forever, if you are diligent and consistent.
There is always room for improvement, always aim for perfection.
Listen to the compliments and complaints of your customers.
Remember, the customer is always right!
There you go, those are the secret steps to having a successful business startup.
These steps don’t promise to be easy but they’ll definitely give you enough room to accommodate more success.
Stay motivated and inspired, do not give up easily.
“Think outside the box, the world needs you to solve our problems..”