If your big question right now is “How to Start A Business” and you really want to get started soon, then Congratulations! You are an Entrepreneur and you are in the right place!
Whenever I talk to people about starting a business I get them focused on how their business is going to work. There are so many different types of business models especially with the Internet and our ability to disrupt existing industries similar to the way Uber and AirBnB did.
The steps to starting a business are very much the same whether you want to create a high investment SaaS company like AirBnB, or if you are interested in starting a business with no money.
Steps to Starting a Business
There is no one correct set of steps to starting a new small business because a lot will depend on the type and nature of the business. There is a universal set of steps that do apply to all businesses. It is in answering these questions you will get the best and strongest foundation for your new venture. These questions are also the best place to start when building your business plan.
I have a different take on how to get started with a new business because I always want to evaluate the opportunity before jumping in too much with an investment of money and time. The opportunity evaluation must begin with the problem that is being solved, and can solving that problem be profitable enough to build a sustainable business.
Top 7 Questions to Start A Small Business
Entrepreneurs need to determine the answers to these questions to guide them through top steps to starting a business.
- What problem is your business solving?
- What will your business provide (service or product) to solve that problem?
- Who will be your perfect customers at the very beginning of your business launch?
- Will those people buy?
- How much will they pay for your business product or service?
- What will it cost you to supply that product or service (time & money)?
- How many customers do you need to create a sustainable business (profit in minus expenses out)?
By far, the most important question that needs to be answered is “What problem are you solving?”
All Entrepreneurs need to be able to answer this question for their particular product or service in their specific marketplace. How you answer questions 1 & 2 together will form the foundation for your entire business.
Characteristics of Entrepreneurs
There are many articles about what it takes to be an Entrepreneur. Being a problem solver in a customer service focused way is often overlooked. Any business must have the interests of their customer top of mind. If you can solve your customer’s problem – it might even be a problem they don’t know they have until after they see and understand your solution – that is the most important skill of the Entrepreneur.
That’s because the best sales is really about serving people and helping to solve their problems!
The best businesses are about providing real solutions to what people in your target market want!
But… the trick is to show to your ideal customer that you actually can solve their problem, and to show them in words they recognize and tune into.
The trick to marketing for the best businesses is to do all that within the first 3 to 10 seconds of meeting that person in person or having them see your business materials.
We call this your “Market Dominating Position”.
Please be sure to connect with me so that I can keep you informed about new materials that I’m sharing to help you determine the best Market Dominating Position for your business idea so you can attract all the paying customers and jumpstart your business quickly!