All good businesses start with an idea, a spark of creativity that blossoms into something wonderful. While many of us go into business to make money, that is not the sole purpose behind the pursuit. Many small businesses help improve the lives of others, bring something different or unique to customers, and offer solutions to problems. So where do you start and how do you develop an idea that can become a business? What if you have the idea but don’t know what to do next? If you’re having trouble beginning, I have four great pieces of advice to jump-start your business journey.
1. Find a strong team that supports your business concept
This is the most important foundation under any thriving business. Whether your support system is your family or a group of like-minded entrepreneurs, a strong support team is a must in starting your own business.
Above all you have to believe in what you’re doing, and not look to others for approval. You must believe in yourself and your idea; your dedicated support team is there to back you up.
2. Discover your passion: That may become your business
Focus on recovering something in your life you have loved. Think back to a moment where you truly enjoyed working, pouring your heart and soul into something just for the sheer joy of it. Running your own business means you’ll be spending most of your waking hours working, so the work needs to be something you love doing. Money cannot be the only factor driving you to succeed.
3. Study your industry before starting your business
Once you discover your passion, it’s time to research and study all the ins and outs of it. The best place to start is by working under a mentor, or a teacher you admire. There is no better teacher than life experience; learning from other people’s ventures will give you a great advantage.
For instance, if you want to open a small coffee shop, find a local shop to work in as a barista. Interact with the manager, the other employees, and the customers to soak up the environment. You can learn some valuable tips and life lessons from working for a successful company before starting on your own.
4. Find out how to monetize your idea and turn it into your business
Once you have researched and practiced within your chosen field, it’s time to research ways to monetize your idea. Consult with other business-minded friends, accountants or other successful entrepreneurs for their advice. Is there a market to making money with your idea? Do you have a lot of competition? You want to figure out how much time and financial investment you will be making, before you take that leap.
Starting a business doesn’t have to be overwhelming; it can be as simple as finding an idea you’re passionate about, then following through with some time and care. If you love what you do, it won’t feel like work. Start small, ask lots of questions, and pursue your passions, one day at a time.