Some people are born to be entrepreneurs: they either started running their own business while they were still in school or planning on starting one straight after graduation. Notably, most of them who start their own business does it because they have no other options. It could be their way of changing their life or just because they got laid off. There are those who do it because of the environment around them. However, more than too often, these group of people have the passion for what they believe in and ideas to execute them. Overall, starting a business can happen at any stages of life.
These are the 3 important things to do before you’re about to start your own business.
1) You must have a sustainable passion!
You may have passion when you want to start something new; Yet, is your passion sufficient enough to lead your ideas to success until the end? What’s more, the moment you do start your business, challenges and obstacles will come in different forms and stages. Which is why to have a sustainable passion for your business can help you overcome all the above and keep you motivated. A start-up that already loses desire in the middle of the entrepreneur life will definitely decrease its success opportunity.
2) Understand yourself and focus on your strength
We all are born differently: from where and who we grew up with to the principal values and cultural norms that shape each and every one of us. That’s why it is important to accept that we have different strength and weakness. As a leader, knowing your skill and strength when in business is extremely crucial. Especially when you’re faced with a tremendous amount of barriers during the initial phase. By knowing how to play towards your strength and skill, they can help you overcome the problems by using correct strategies.
3) Know what is the market needs
To think up an idea is fairly easy. Heck, you can even come out with a bunch of ideas to sell a certain service or product. To know if your idea is working or not, ask yourself two questions: Are those ideas too easy or are they practical? Before you start, you may spend effort studying the market by doing some survey or market research. If you think your idea works, you must do some market study or survey. To conduct a simple market research, you can start with asking friends or family around, particularly those who you believe can be your potential client. Are they willing to spend on your idea?
These are the 3 things you’d have to be aware of before you start any new business. Make sure you have a strong passion for something you want to do; know your strength to grow it and be clear on the market need.
Source from: Forbes