insideKENT Magazine Issue 81 - December 2018 | Page 166

BUSINESS
LAUNCH IN THE NEW YEAR
IF YOU ARE ALREADY THINKING OF HOW TO MAKE 2019 A BIGGER, BETTER, MORE BOUNTIFUL
YEAR THAN 2018 WAS, YOU MIGHT HAVE CONSIDERED STARTING YOUR OWN BUSINESS.
BEING A BUSINESS OWNER AND BECOMING SELF-EMPLOYED HAS PLENTY OF BENEFITS
INCLUDING MORE FREEDOM AND ULTIMATE SAY IN WHAT GOES, BUT UNLESS YOU PLAN
AHEAD, IT WILL BE MUCH HARDER THAN IT REALLY NEEDS TO BE. SO, IF YOU’RE LAUNCHING
YOUR NEW BUSINESS IN THE NEW YEAR, HERE ARE SOME TIPS ON HOW TO GET STARTED.
DECIDE ON YOUR IDEA
Before you can do anything, you need to have
an idea of what your business is going to do.
Are you going to sell a product or will it be a
service? What sector are you intending to
place yourself in? What knowledge do you
need to gain before you can be an expert in
your chosen niche?
For some, coming up with the idea for their
business is the easiest part; they know what
they are good at and they know they want to
sell that skill. For others, it can be the hardest
part. There are so many options, so many
different ideas, and each one could potentially
work. Make sure you know exactly what your
business is all about before you take it any
further because if you keep changing your
mind, you won’t get far.
Remember that it is worth spending time to
come up with the perfect business idea that
works for you and fits in with your vision,
your goals and your lifestyle. It may take many
months for you to hit upon the perfect plan,
and that’s okay – it will make everything that
comes next so much easier if you are sure
about what you are doing.
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If you’re having problems deciding what to
do, you can ask yourself some questions. The
first is: what needs to be fixed (that is, what
problems do you have in your life that need
a solution, and what could that solution be?)?
The second is: what’s coming next (what new
technology is on the horizon, and can you be
one of the first to provide it?)? Finally, you can
ask: can it be done better (find something that
is already being offered, but make it a better
product or a more efficient service, for
example)? Discovering the answers to any of
these questions will give you a business idea
to move forward with.
RESEARCH
Once you have your idea, that’s only the
beginning – you need to do as much research
as possible to determine whether it really is
going to be a business you can grow. Take a
look at your competitors and see exactly what
they are selling and for what price. How are
they marketing their goods? Can you do
something similar, or do you want to do
something entirely different in order to stand
out? If there are no competitors to research,
is there a reason for that? It might be that no
one has yet come up with the same ideas as
you, but it could also be that there is simply
no demand – working out which it is will save
you a lot of time and money.
As well as looking at the current market, you
should also speak to potential customers. This
will give you a better idea of how well your
idea will be received, and how much demand
there is for it. You can ask questions about
pricing and marketing, and generally get a
good idea of who you need to be targeting
that marketing to.
TAKE FEEDBACK ONBOARD
Feedback in the early stages is probably the
most important part of starting a business.
Not everyone is going to like your business
idea, and it is these people who might be able
to offer the best help. The important thing to
bear in mind is not to be offended – find out
what it is that they don’t like and use that to
make your business better. If you think about
it, lots of people telling you your idea is
wonderful but offering no real advice is a
pleasant enough thing, but it won’t help you
succeed in the future.