Congratulations! You have signed the paperwork and have been granted your merchant’s license; your small business is underway. Starting your own company is equal parts exhilarating and terrifying. On one hand, you are living your dream and are doing something that you have always aspired to do. On the other hand, this is brand new territory. Focus on the exciting aspects of what you are doing rather than the nagging what-ifs that plague your mind. Be inspired to break new ground in your small business.
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Think of the most successful companies or concepts you know of. Popular companies that come to mind might include Amazon or Starbucks, while new concepts like Bitcoin and Ven Currency have surged in popularity. Next, think about what it is that makes them so successful. Why is Amazon one of the most successful online retailers? How do Bitcoin and Ven Currency turn digital currency into real money? What makes Starbucks Coffee so giant compared to other coffee chains?
The answer is simple: the entrepreneurs were not afraid to embrace new concepts and do things that had never been done before. Apply this principle to your own business. What can you offer the world that is new and exciting? Once upon a time, each of these was a fledgling new idea just like yours.
Questions to Consider
If you wanted to make a cake, would you just start pouring random ingredients into a bowl? Or would you research a recipe, make sure you have everything you need and go shopping for the right tools and equipment?
The same concept applies if you tried to go completely blind into a new venture. You need to have some idea as to what your goals and aspirations are for the future. Having a plan for your business is one of the most important things that you can do as an owner because it will serve as a guide to help you grow and thrive. Knowing what your plans are and exactly where you stand in the corporate world is key to being successful. Some questions you should consider when planning your business model include:
- What services do you offer? Do you sell a product, provide a service or a combination of the two?
- What makes your company different from others like yours? How are you unique? What can you do to stand out and make your mark?
- Why should clients come to you instead of a competitor?
This sounds so simple but, in truth, it is the basis for every new company. No matter what you are doing for a living, be amazing at it. Use the passion that drove you to become an entrepreneur as fuel for providing fantastic service to your clients.
- Be prepared for long days and nights. Becoming successful does not happen overnight, and it takes time to build a reputation. Whether you have a small fleet of employees or are the sole employee, prepare yourself for long hours.
- Know that sacrifices are imminent. To be the best at what you do, remember that the time that you spend at work will cut into personal time with friends and family.
Scary as it might be, the risk is worth the reward when deciding to work for yourself. Be inspired to be your best by being innovative and holding onto your excitement.