Not everyone would start a business and not everyone wants to do a 9 to 5. There are those people who love the corporate world and have gone on to build a successful career doing what they know how to do best. The piece if for that person who feels there is more out there beyond the four walls of a beautiful office glued to a desk and waiting till its 5pm. Those who feel they have a shot at life, like nike, just do it!
I felt like that when I started disliking the same job as an investment banker I wished for growing up, waking up was a struggle and going to work was no longer fun, I knew it was time to move on and embrace the unknown, but where do I start from? How do I get out of here?
Quitting your job is not the first thing, keep doing it, but here are short to medium-term strategies to get that business started.
1: Idea engine, find out what you keep complaining about and what others are complaining about, what can you do about? That’s a business idea right there. Do your homework, go online and do a google finding on what people are actually searching for online. Do not assume because you like something others also like it.
2: Flesh that idea, build your knowledge on the business, its niche, the market size, you should be able to ask yourself if people would pay for it.
3: Do I need a 30 – 50pages business plan? The answer is no! the world is business now, no one has time to read your 30 pages business plan these days- a one page business model canvas is what you need to communicate your idea to anyone. This tool also allows you to summarize all about your business even to yourself in one page. Keep it simple!
2: Do I need money to start?; Your idea is the starting point, and then the idea on how to get the money is all you need. Never let the burden of what the business would require stop you. Idea is free to generate, so also is the idea on how to raise the capital you need.
3: Do I need an office space; This is not your problem really, a good idea always attract resources, is your idea bankable? Have you done enough homework that anyone is willing to bank roll you? Start from your garage, start from your room, start with an online presence. Just start from where you are.
4: Do I need to hire? Start with a lean staffing, most startup founders wear many hats at their initial stage of the business. Be everywhere in your business at the early stages and as it grows be ready to move on and trust people you bring in and cautious of not micromanaging. A business is easy to scale when you have put processes in place.
5: When should I start; many thoughts would come in here, what if I fail? Then at least you tried it, what if you succeed? Ensure you have at least 6 to 9months of your recurring personal expenses in savings and separate from whatever you are putting in the business. Keep your 9 to 5 or other hustles until you know this business can now take care of you.
You should also start when you can’t take It anymore, when you know the best time to start was yesterday, when you know you have done your homework, you may not be able to answer all questions until you start. Just start.
You are already a success for starting out in business. If you don’t win, at least you will learn something. Skills you would need as you go into business? Negotiation skills, Leadership, administrative skills, ability to multitask and many to cover in other series. You need a mentor, someone who has gone on that journey before.
Let’s talk about this…