Starting Business – 3 Powerful Tips For Starting Business

Starting Business? Read this or Stay broke

Do you know you can easily start your own business with minimal risk to your capital?

Do you know the majority of start up businesses started as a side business?

Fortune magazine published an article that highlighted how a whole new generation of entrepreneurs has changed the face of business delivering services to its customers.

What I noticed as a common thread of these founders CEO is that they all started their business as a side business.

For example, Brian Chesky and Joe Gebbier moved to San Francisco with a dream to start a company. However, there was a problem: they had no business startup idea. In fact, they lacked money for rent. There was a design conference in San Francisco at the time of their challenge. The conference had run out of hotel rooms for delegates.

The two friends came up the idea of renting out airbeds in their apartment to delegates so they could raise money for rent.Three people signed up to the idea, giving birth to the founding of Airbnb.

Thanks to AirBnB, over 40 million people have been able to find lodging and accommodation.

This is just the beginning of a new trend in entrepreneurship. Every day many budding entrepreneurs all over the globe are venturing out to start their own businesses with great success.

Just like Brian Chesky found Airbnb on the back of an idea…you too can start your own side business.

Now If, you are one that-cringe at the idea of starting a business-because you think it’s risky, this article will show you how to start a business without losing you all your life savings

How do you start a business without risking all your fortune? The answer is easy.

You see, in order to have a good chance of  a successful  business you must do three things.

The first thing you should do is….

Identify a product that people want and will pay for

This is important because you cannot sell to people what they don’t desire.

You see some of the reasons many small businesses fail are because they fail to know who are their ideal prospects.
Your ideal prospect is a person who is looking for your product and is willing to pay money for the use value of what you are selling.

The mistake, most small businesses, make stems from not knowing their ideal prospects. And because they don’t know who their customers are their product flop sales.

The key to success starting a business is to look for a product or service that people want and will like to buy.

You don’t have to reinvent a wheel to start a successful business. You can take an evergreen product with a proven market and offer a better product than what your competitors are offering to that market.

You could also be a trailblazer that make your customers think and experience using a product that they already use.

For example, Airbnb, started on the idea of booking accommodation differently. You see the need for the accommodation is as old as the hill.

Brian Chesky founder of Airbnb just showed people that you could find lodging in a city without breaking the bank. And have fun doing so.

Airbnb has an evergreen product. What it has done is to offer a proven market a different way of enjoying the experience of the service.

So, if you are thinking of starting a business that someone has already started that is good because it has a proven market.

You already have a head start from other entrepreneurs. What you need is to bring your own unique style to serve the market

The next thing you want to do is…

Find a way to supply the product or service

Why? Because you must fulfill the promise of what your product offers to your customers.

If you can find a way to supply your product, then you’ll be able to fulfill your promise and boost your credibility with your customers.

Thanks to globalization, you can now create products using suppliers all over the world. You can now have an idea for creating a product, and it prepared and ready for your market. You can seek out suppliers that will supply you the merchandise cheaply enough to make a profit.

Even if, you decide to create a product from scratch, you can still outsource most of the components of the product cheaply.

Once you’ve have the goods you need to …

Find a way to sell it to the people that want it

In order to reach your customers, you must find the best channels for bringing your products so they can eyeball them.

Nowadays there are multiple channels that you can reach your prospect: television, internet, social media, newspapers and magazines

The trick to reaching your customers is to test as many channels as possible.

The rule is to Test… test… test

When you test the channels you can reach your customer then you’ll be able to separate fact from fiction.

Why do you need to find a way to sell your product? You need to sell your products or else you’ll go broke.

The truth is if you have done your homework of identifying a product that people want, then selling it should be easy.

You can easily set up a website and market your product. With the Internet, you have unlimited opportunity to reach your customers. You can also use social media to find your ideal prospects and then sell to them.

The benefit of social media is that when your customers enjoy your product… you’ll get attention through word of mouth referrals.

On the flipside, you may get negative attention and damage your credibility if you deliver inferior goods

The foundation of Starting a business should be to find a product people want and will pay for.

The next thing you should do after you have laid the foundation is to you find a way to create your product cheaply. You can easily sell your product once you identify the right channel to reach your ideal prospect