Did you have a great idea but don’t know how to start a business from scratch? This is one of the most common questions among entrepreneurs. Have you ever wanted to build your success but didn’t know where to begin or what to do?
This is not uncommon: unfortunately, many innovative people give up on their projects because they lack the necessary skills or the knowledge required to put their plans into action.
We created this exclusive content to ensure you don’t become part of that statistic and to help you discover how to kickstart your idea. Keep reading!
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What is entrepreneurship?
Entrepreneurship is nothing more than the development of skills to create a project that turns an idea into action, whether it’s scientific, technical, or business-related.
The entrepreneur, business person, or enterpriser, is a person who has the drive to take ideas from paper, getting hands-on to learn everything necessary to realize it.
How to be an entrepreneur from scratch?
Being an entrepreneur is not an easy task. It demands focus, drive, and will to learn. But, with some practical tips and courage, it is possible to turn any good idea into a successful endeavor. Here are the main 11.
1. Feel the market
The first step to a successful business is to know the market it will be a part of. You need to map what challenges and opportunities to expect from now on.
An amazing tip is to do a SWOT analysis periodically, both at the beginning of your planning phase and during the business restructuring and optimization processes in the future.
The SWOT analysis will help you identify points of interest such as:
- Strengths of your business;
- Weaknesses of your business;
- Opportunities for your business in the market;
- Threats that can hinder your path to success.
All this information will help you design a business plan much more efficiently, so you can find the best alternatives and approaches to kickstart a company.
2. Set a goal
Before starting your business, you need to define its goals. Semester goals are a good path many entrepreneurs follow, as they give you a decent time frame to plan, execute, and measure.
Before that, though, it is better to determine what the general objective of your business is. A successful business is structured based on short, medium, and long terms that correlate.
That way, you will know exactly what steps you need to take to get where you plan, with much more precision and chances of success!
3. Know your audience
This is where many entrepreneurs end up sinning. You need to know your audience and know exactly who their personas are, what their objections are, and their main needs.
Unfortunately, it is not uncommon to find an entrepreneur who has no real knowledge of their audience. Many are still guided by the “target audience” and end up having a very generalized definition of who these people are and how they behave.
When you research your buyer personas, you have a more accurate vision of who those people are and how your business can help them. You start raising the following points:
- who is your ideal customer;
- what are their goals;
- what are their needs;
- what are the buying obstacles for different profiles;
- what are their everyday challenges;
- what are the best selling points to approach each of those profiles;
- how your products and/or services can help your ideal customers in the face of their desires and needs.
4. Create content
Once you know your audience and their objectives, and have your goals set, it’s time to produce content.
At this point, it is interesting that you consider the needs and objections of your personas and, based on that, write content that answers the questions that these people present.
This content will help you educate your market and improve your SEO ranking, turning your company into a reference on which your audience relies.
5. Develop a mailing list
Even though some people say that e-mail is dead, that’s not true: e-mail marketing has become an excellent online strategy alternative for talking to consumers and creating lasting relationships.
To do this, you need to build a consistent address list: offer exclusive content, and capture qualified leads. Then you will be able to work on this e-mail base, focusing on converting them into customers.
Once customers are converted, you can take advantage of this strategy to nurture a loyal relationship with them, boosting repurchases and, in turn, your business’s profits.
6. Invest in good products and service
Having good products and services is not an option: today, with increased competition and new purchasing opportunities, it is essential that you invest in continuous improvements to the solutions you offer to the public.
To do this, keep investing in market research and customer satisfaction surveys to develop your products further and deliver customers exactly what they need.
7. Attend business events
Fairs, conferences, and talks about your market are an excellent way to meet relevant people and even find new business opportunities.
Networking is crucial and needs to be developed as soon as possible. More than meeting potential new clients, you will also meet potential partners, who will increase your opportunities for success.
8. Benchmark your competitors
By benchmarking the competition, you will be able to uncover the challenges you will face, as well as the opportunities you will have to grow and consolidate.
Start by mapping both direct and indirect competitors, evaluating their weaknesses and strengths, their market strategies, and performance data.
This way, you will know how your brand and product can be positioned to get your market share.
9. Identify what makes you unique
If you want to be an entrepreneur driven by innovation, you can’t start as just another business in the market. You have to find your unique approach to affect clients in a way they want to keep buying from you. Here are some ways of differentiating your brand:
- quality and excellence of the product or service;
- lower price or a better cost-benefit;
- a cohesive and attractive mix of products;
- better customer service for building loyalty;
- unique after-sales strategies assuring the importance of the customer to the brand;
- digital brand awareness and content for added value.
10. Don’t wait until tomorrow
After all those steps, it’s time to start taking action. Another very common mistake is waiting for things to be perfect before starting to work on your ideas.
An entrepreneur needs to learn to persevere with the idea even if everything is not going well yet.
A very common saying in this area is “Better done than perfect”. This means it’s better to do it now, where you are and with what you have than to wait for things to align perfectly. They never do, not without real-life practice.
Over time, with practical data and experience, you will be able to optimize and make adjustments.
Take note of some business examples to get inspired
Do you want to get your entrepreneurship career but don’t know which activity to start from? Take a look at some examples of having a business right at home.
Food
Starting a business in the food market is a nice option for those who have talent and drive. Following some rules and standards, you can cook from home, have a shop, or offer services for events.
If you like bakeries, you can learn a lot from the internet and experiment with unique recipes that will always have demand, such as:
- cakes and cupcakes;
- muffins;
- brownies;
- cookies;
- bagels;
- donuts;
- cheesecake;
- pies;
- breads.
If you want to focus on cuisine, you can be a personal chef, have a small restaurant, a buffet, or offer pre-made food for customers who value non-processed, healthy meals.
Pet shop
Pets such as dogs and cats are only growing in popularity in the last few years. Especially after the pandemic, which makes a lot of people value physical interactions.
You can have a pet shop in your own house with grooming services and a daycare. Start with your neighborhood, investing in a calm and adequate place for pets to stay safe and happy.
Make a list of tools and processes a pet shop needs and invest in reaching an optimal operational level before starting to promote it.
Online sales
The internet will be your office, so choose a product or service that you identify with, so you can sell it. Check whether you will have to set up an online store or whether there is a suitable marketplace for your business.
Study a lot about e-commerce and its marketing strategies to obtain good sales, including SEO, Content Marketing, and Social Media.
Now that you know how to start a business from scratch and what to do to achieve your goals, it’s time to plan and execute!
Want to know more about how to set up an e-commerce and start your business from home? Take a look at our exclusive e-commerce guide!
