Many people want to learn how to start a (small) business this year. Half-baked business ideas are a dime a dozen, and it’s not unusual for an entrepreneur to have several possible ventures lined up.
But what’s critical to finding real success is testing these ideas and refining your business concept before getting in over your head.
The first test is personal:
Do you care enough? ?
Entrepreneurs inevitably spend large amounts of their time and energy getting their businesses off the ground. You need to be personally invested enough that your commitment to what you’re building can sustain you through the hard times.
And there will be hard times. Inevitably, they will undermine your confidence at some point. In order to push forward, you need true tenacity, as well as certainty that your business idea is a winner. However, being sure your idea is going to get traction isn’t enough. You also need to research the market. This is where the following guide comes into play.
Here’s a step-by-step walk-through on how to start a (small) business:
How to start a (small) business
Here are the steps we’re going to cover:
1. Come up with a good business idea
Learning how to start a small business can be a grueling endeavor. Before you commit yourself — and your finances — make sure your business idea has the best chance at succeeding.
Your checklist for starting a business should begin with these three steps for evaluating (and improving) the quality of your business idea:
Decide on a business idea
It seems obvious to say you need to start your business with an idea. But for some people, they either have a vague idea, or a slew of them.
Narrow things down by letting ideas simmer. Write your idea down (or your list of ideas), and give it a few days. If it’s something you are truly passionate about, you will keep thinking about it.
While it’s simmering, figure out what problem it solves. Make sure the problem you’re solving is specific, but not too specific. A dating app for everyone is too broad, but a dating app for polyamorous farmers will leave you with an extremely small customer base.
Research the market
The goal of market research is to answer four basic questions about target consumers and their buying habits:
- What are
This article was written by Maddy Osman and originally published on CodeinWP.