Internal Investments – A Newbie Guide to Building Your Own Business

If you have passion, persistence, patience and a great idea, then you have the building blocks for becoming your own boss! Here are a few of the essentials you need to get your idea up and running, so that hopefully one day you have made a profitable business out of it.

Have the Right Tools

To effectively start up a business, there are some things you will need when laying out your idea so that it can become a viable business plan. Then you need some basic tech to assist everything in coming together. You should first write up a detailed business plan so that you and others can see exactly what your goals are. Then you should set up a base of operations, even if at this point it is just a desk at home with a standard laptop setup and a samsung business phone system from Commander.

Outline and Research Your Target Demographic

Who are the people you would like to ideally sell your goods or services to?

How old are they, where are they from, and how do you intend to meet their needs? Once you have decided on the demographic(s) you are going to be targeting, you need to learn as much about them as possible.

The most common mistake that big business makes is assuming that they know and have exactly what their customers want. You need to be proactive, asking people what they want or need out of the kind of business you run, then working this new information into your business plan

Eye Off the Competition

Find out what else is out there.

If you’re lucky, you may have found a niche in the market that you can work to your full advantage. However, what is more likely is that you will discover a world of competition. This is when you can start to develop the finer points of your start up strategy. You don’t necessarily need a brand new idea, just a way to separate yourself from other similar businesses and how you will reach your audience deeper than others.

Set Realistic Limits and Goals

To be successful, you will need to pour in a lot of resources and there may be very little pay off in the beginning. This means that it is important to set attainable and realistic goals whilst being firm on your budget and stick to your personal morals. Your goals should be as detailed as possible with dates, estimated costs, resources required and a checklist on what needs to be done to make the goal a reality.

Set Up a Website and Begin Advertizing

Once you have gotten all of the planning straight and begun to get the ball rolling, it is time to start letting the public know that your service exists. You should make business cards, set up an official email and site or page online of information.

You can advertise in so many ways, so it’s best to stay versatile.

You could make videos and create other online content, you can have a pamphlet in the newspaper, do shop a dockets, enter your details into the yellow pages, etc. It doesn’t really matter how you do it, as long as it is getting you some attention and exposure.

The final step is to watch your idea become profitable and a sustainable job for yourself and perhaps one day others as well. We wish you luck in your endeavours!

I decided against the 9 - 5 grind so I can travel around the world and share my journey. Love people, music, writing and enjoying life. Share your thoughts.