July 23, 2010
Start Your Own Business: A Quick Guide to Breaking Free From the Cubicle
Can You Wear the Crown?They say, “Heavy is the head that wears the crown,” and they weren’t kidding around! When you’re “the man” the buck stops with you; there is no one else to blame if things go south. If you’re up to tackling this challenge, you need to put some serious time into planning out what you’re going to do, how you’re going to do it and how to make a business grow. Despite the challenges it presents, being your own boss is extremely rewarding personally and financially. If you’re ready to dip your toes in the pool of entrepreneurship, then check out this quick guide to make sure you have all your bases covered.
Find Your NicheThe very first question you need to ask yourself is, “What service/goods am I going to offer?” What you decide on should not only be lucrative and have a market but should also interest you. When you work in a field that you truly enjoy, it feels a lot less like work. Make a list of things you are good at and that you really enjoying doing. Go ahead, I’ll wait. Take your list and make sure there is a viable market that you can enter. You can do this by Googling the names of the market or terms that are commonly used in it. If paid ads show up in the search engine results, then you know people are making money doing this. You can also check Amazon and your local bookstore for magazines that are devoted to your field of interest. Look at the ads in the magazine and see what people in your market are buying and what they are interested in.
What’s Your Business Model?The next thing to consider is your business model; how are you going to make money doing what you enjoy? There are a thousand of ways to make a buck, here are just some:
- Create a website or publication that makes money through advertising.
- Sell some sort of service.
- Sell a physical or electronic product.
- Consult and show others how to become as great as you are at whatever it is you’re great at.
- Be the middle man in an interaction and take a percentage or fee from one or both parties.
- Sell other people’s products and make a commission per sale, for example internet affiliate marketing.
- A mix of the above.