As powerful women and Girl bosses in the making, we need to get our groove on by creating the kind of lives we want to live, plus the standard that we want to attain/maintain. A lot of young women in different parts of the world are thinking about starting their own businesses especially after dealing with a lot of obstacles while growing up, such as rising prices, high unemployment rate, etc.
Starting your own business will help you in building your confidence, exploring entrepreneurial networks and improving your standard of living.
Suggested Read: Zainab Sarumi On Building An Eyewear & Shoe Business.
Here are some tips could help while going to starting your own business:
Know what you want
Look into yourself and do a deep search about your skills, experiences, and characteristics. Discover or rediscover something new inside yourself. Take the time to think about your future, what you would like to achieve and how you can work on it. If you make the decision about starting your own business, try to know which kind of business you could work on. Know your product, competitors and the tools which could help in establishing your own business!
Have an Idea
Choose an idea to work on as your own business or project. It might be a product you’ve always wanted to make or something you feel people need.
Select your target audience
For starting a new business, you need to understand more about your targeted audience, what their needs are, their background, purchasing power and what they are searching for.
Know your market
Help yourself in getting more information about the market which is supposed to be your potential niche. Know about your competitors, their prices, etc.
Identify your product’s price
Research, test and fix the price which is supposed to be suitable for your targeted audience while purchasing.
Create a SWOT analysis
SWOT analysis is going to help you while working on your project. It’s going to help in understanding more about your project’s “Strengths, Weakness, Opportunities, and Threats”.
Suggested Read – Isoken Ogiemwonyi on combining being a creative director with running a business.
Select your product’s selling place
Are you going to be selling online, offline or combining both? You need to select the place which is supposed to be available while your potential customers need to purchase your product/service. Choose a suitable, comfortable and easy place to reach.
Create a Team
You need to have a team that’ll work with you on the same idea/project. It will help in saving time and efforts. Every person is different, which is going to help in having an opportunity for generating creativity and creating something awesome!
Have a competitive advantage
Simply ask yourself: “Why should the potential customers buy my product/service and not from anyone else?”. Having a competitive advantage could be in the quality of the product or the customer service, etc.
Have a business plan
Having a business plan will help you while setting up your own business. It could include different stuff, such as Feasibility Study, Marketing Plan, etc.
Always remember to do your best for achieving your goals. Work hard and make your dreams come true! Invest your time and efforts in creating something different and unique!
Follow this article up with Fast Company’s 2018 version/list of the ‘Most Creative People in Business’
She looks forward to being an added value to (For Creative Girls) by helping in raising awareness of its work around the world!
