“How to start a business: discover the secrets and techniques of entrepreneurship.” – This is one of many articles you’ll find online says Paul Haarman. There are so many different blog posts, websites, books, and videos all giving their own advice on how to launch your entrepreneurial career. Although there are lots of tips about starting your business for free or little cost, very few people write about how to do it with $100 dollars… I’m going to change that today! By the time you finish reading this article you should have everything you need to know in order to get started!
A year ago at age 17 I had an idea for an invention. I wanted other teenagers like I have access to fun things they can do while on their mobile phones. I had a vision for an app, but I had no idea how to start or how much it would cost. After one month of being completely broke with only $100 dollars in my bank account. I finally had the money to get started on my new project!
This article is about my first steps and how I accomplished this. The whole process took me less than two months!
I’m going to give you all the information starting with…
Step One: Get your idea down on paper. Where do you begin?
It can be overwhelming at first, but don’t worry! All entrepreneurs have to start somewhere. Just pick up a pen and write everything down that comes to mind regarding your new project or business idea. You’ll want to focus on what exactly your business will be selling, how it will work, why people would buy from you rather than your competition, who is your target audience, and anything else that comes to mind.
This step might seem simple enough but many people fail here simply because they don’t put their thoughts down on paper. You can always come back to your ideas later, but when you start out it’s important to get yourself focusing and organizing right from the start!
Step Two: The Market Research: Is this idea a good fit for the market?
Once you have your business idea down in writing and you know what type of product or service it will be; we’ll go ahead and research the market we’re going to sell in explains Paul Haarman. This is where we figure out if our product is a good fit for the current marketplace. Who is our competitors, how much people are selling the same thing for, etc. There are many ways of doing this, but I personally went over to Amazon.com and started looking for products that were similar to mine.
You can also do this with Google by typing in a search phrase and sorting the results by “Paid” or “Free”. I was able to learn a lot of valuable information simply from my competitors: Who they are, how much it costs them, what they’re doing wrong and right… and so on. This step is important because it will help us determine if we should move forward or not! Sometimes you’ll find that your idea isn’t worth pursuing anymore when you discover something like high competition levels with no profit in sight!
The next step is to try and come up with ways you could stand out from all of your competitor’s products. What make your product more interesting than everything else? What can you do that’s better than the rest? This is where your creativity and individualism will come into play says Paul Haarman.
Step Three: Get it all down on paper. Develop a business plan!
Hopefully by now you have a great idea in mind and know whether or not your idea is going to make you money, but how are you going to go about making this a reality? What steps need to be taken before launch day? Where should we start with what we already know?
In order for us to create our business plan we’ll want to list out everything from beginning to end as much as possible. We want the reader of this document (who could be yourself) understand exactly what needs done. Who’s responsible for doing it, and when it needs to be by. Don’t worry about being too detail at this point, you’ll go back and add more information later on.
The best thing to remember here is that, if you don’t know what you’re doing… Neither does anybody else says Paul Haarman. The only way to get experience and knowledge is to take action! Don’t be afraid, just take the first step. You’ll soon find yourself moving ahead with your newfound motivation.