The best thing that will happen to anyone is to have their own business whether full time or part-time. In one of my eBook I wrote about “the smart move approach”, it is very possible and easy to become an entrepreneur or a business owner by approaching it the smart way. From my experience, I found out that it is better and easier to start your dream business early as a youth than to spend all your strength and energy working for someone.
I have seen scenarios when someone has been talking about quitting her job for the past eleven years yet she didn’t leave. I have a family friend that has been talking about starting a business for the past 10 years yet he is still on his paid job. This is very common.
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One major problem I noticed among those who want to quit their job to start their own business is deciding on what exactly to do that will sustain them and their family from the start. The simple truth is that it is not possible to start a new business and start making profit immediately even if you establish a grocery store, you still need to attract customers to your store.
For those who desire to start their own business, below are some steps to follow;
Start with a Smart Move Approach (SMA): This means starting your own business while you’re already working for your boss especially when your line of business is different from what your boss is into. Make sure you do your research about the business, identify your customers, incorporate the business name you want to use then build a website to ease your marketing effort. Use your spare time to promote your business, make use of social media for publicity. Once these steps have been taken, you’re getting ready to to become your own boss. Finally, before quitting your paid job try to establish few reliable customers that will keep you going when you quit . This idea is perfect for those who are in a job and have ideal business to start with. Delay could very dangerous.
Identify a problem: Can you identify a problem? If yes, then it is possible to find solution. What people are looking for these days is solution not product. You can identify a problem through the help of social media, forum and by visiting some freelancers’ website, attending seminars etc. You can post a question like “what are the things people are finding difficult to do these days” on a forum and on your facebook wall and see what people really need most.
You can also identify problems from attending seminars to find out the topic that attract people most, or ideas can just flows into your head and that is it! You can find out the reason why people are not buying a particular product in the market; it could be as a result of outrageous price or poor quality or the packaging. This can be an opportunity to make a difference. This step is suitable for anyone with intention to become an entrepreneur but with no idea yet, or with too many ideas and not knowing which one to chose.
Learn a skill: The third step to easily quit your job and start your dream business is to learn a skill that have a high demand. This idea is perfect for both working class and non working class person. Find out the skills people around you or around the world are looking for and develop your skill to offer solutions. Such skills could be SEO, Web design, App Development, Copyrighting, ICT etc.
From the second step you can identify a need and learn how to serve that needs better than those already in that sector.
Hire a professional: It may be possible that you do not have sufficient information concerning your dream business. For instance, you’re a banker and you have no time for research about the business you want to do or do not even know what to do.
Let’s assume that your dream business is food processing and exportation, the best thing to do is to hire a consultant who will do all the necessary documentation and marketing for you while you pay him an agreed amount. As soon as he finishes with the documentation, negotiate with the processing company on behalf of you and probably secure international buyers who are already patronizing you, you can put up your resignation letter without hesitating to face your business, but be sure you have already market for your products.
Go for franchise: Search for companies with international reputation and apply for franchise. They will grant you the license or right to use their trademark or trade-name as well as certain businesses systems and processes, to produce and market a good or service according to certain specifications. The franchisee (you) usually pays a one-time franchise fee plus a percentage of sales revenue as royalty. There are many benefit accrued to this method such as;
(1) Immediate name recognition.
(2) Tried and tested products.
(3) Standard building design and décor.
(4) Detailed techniques in running. and promoting the business.
(5) Training of employees and
(6) Help in promoting and upgrading of the products.
The truth is that your friends and family are really your low hanging fruit for any business you start. If you’re looking for clients, users, whatever; friends and family can be your early adopter based.
The steps listed here are only ways to startup your dream business… before you quit your job make sure you do your diligent research.