Author: Christopher Alarcon / Source: Lifehack
It’s Sunday evening and you’re not looking forward to the start of the week. You’re not a pessimist but you can help to feel a sinking notion in your stomach–it’s the feeling of torture of another work week. You’ll attend boring meetings, dispute unimportant ideas, and desperately stare at the clock–hoping to see 5:00 pm.
You’ve dreamed of starting a successful business but you didn’t feel capable. After all, you’re not a computer nerd or have any business experience. So, you’ve kept your head down and crossed this dream of your list.
But, what if you were wrong? What if there was a better way to start a business? Not only that but you’d generate a higher income than your current job.
The good news is that it’s possible, but you need to change your approach. I’ve also been in this dark place–not believing I was worthy of building a successful business. But after 3 years of experimenting, I’m finally seeing some success.
I’ve made countless mistakes and learned which strategies work from other successful entrepreneurs. My hope is that you avoid the long road I took and to learn from my mistakes. More importantly, adopt proven strategies from other successful entrepreneurs and avoid wasting time.
Here’s how to start a successful business–one that you’ll be proud of:
1. Build your business around your lifestyle
“If you fail to plan, you are planning to fail!” – Benjamin Franklin
Don’t fantasize about starting a business so much that you forget why you’d wanted to start one. Sure, you want the freedom to choose which types of projects you’ll work on–but don’t create another job for yourself.
Take for example an entrepreneur who decides to start their own pie business. This person commits and quits her job to work on her business. After a few months, she’s earning a sustainable income. The only problem is that she’s no busier than ever.
She works 60 to 80 hours each week and doesn’t know how long she’ll be able to sustain her business. This is the case for many entrepreneurs who fail to plan. Before brainstorming business ideas, decide why you want to become an entrepreneur.
Do you want to spend more times with your family? Or travel the world? Whatever your reason, be clear on why you’re starting your business.
Once you know your reason, start building your business around your desired lifestyle, not the other way around.
2. Don’t wait for all the green lights to pick your business idea
You’re clear on why you’re starting your business, now what?
Decide what type of business you want to create. Some examples include opening a restaurant or selling online products and services. Brainstorm a few business niches you’d like to explore (i.e. health, finance, and fashion.)
A few years ago, I was clueless about which business idea to choose. After stumbling upon blogging, I failed miserably along the way. My biggest mistake was spending months designing my blog.
The truth is building a blog is one of the most important things you can create for any business. It allows you to deepen the relationship with your customers by providing value. But it’s also time-consuming, making you prone to waste time as I did.
Instead, skip creating a blog and provide valuable content on an existing platform. This will help you determine if your business idea is something you’d like to pursue long-term while getting audience feedback. The best platform to do this is Medium for written content.
But if you love to speak, start a Podcast. You also have the option to create your own Youtube channel if you enjoy being on camera. Your goal is to produce quality content as soon as possible.
Jot down a few ideas and narrow your list down to 1 to 3, then focus on producing quality content. Once you’re confident about your idea, brainstorm how you’ll monetize it.
3. You don’t need business experience to get started
The best part about building a business is that the market doesn’t care about your experience.
If you can solve a problem, the market doesn’t care about a college degree or your business experience. Many entrepreneurs have built successful businesses without the help of their degree.
For example, Richard Branson quit school at age 16. Today he’s the founder of the Virgin group and worth billions. Bill Gates received his degree from Harvard 30+ after dropping out.
I share these examples to show that a college degree doesn’t make or break a successful business.
Instead, start a business on a…
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