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15 Signs You Are Ready To Start Your Own Business

15 Signs You Are Ready To Start Your Own Business

A family, a home and a steady job. 40 hours of work a week, a pay cheque, and your evenings and weekends off, which you could either dedicate to your better half, your kids or to your hobbies. Or if that doesn’t suit you, you could always hang out with your work buddies instead.

Life’s good, or okay at least. Or is it? While a huge majority of the human race might be complacent with this sort of bourgeoisie lifestyle, not all of us are cut out for it. And the very fact that you’re still reading this article is proof enough for me that you have no intention of identifying as a bourgeoisie.

Oh, I like you! Now of course there are a lot of technical requirements to starting a business. Coming up with an idea, creating a business plan, finding an investment, hiring employees, and the likes.

But before you get into all that, you need to make sure you’re actually ready for the whole being your boss thing. So here are 15 signs that you are ready to start your own business.

1. You are sufficiently motivated

“The starting point of all achievement is desire. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” One of my favorite quotes from Napoleon Hill’s timeless classic “Think and Grow Rich”.

This one’s pretty straight forward. To be ready to start your own business and succeed at it, you would have to really want it first. Do you?

2. You have a confident personality

“No one can make you feel inferior without your consent.” From the book “This is My Story” by Eleanor Roosevelt. We live in a cruel world. Bear that there will always be people trying to hinder or belittle you and your progress.

Now of course, there isn’t a thing in the world that should matter less than the opinions of those poor souls. But the bitter truth is, to most people it does.

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To stand apart, to succeed, you will need to sport a confident personality; to always be sure about what you’re doing or where you’re headed. Are you?

3. You are tenacious

“Patience and tenacity are worth more than twice their weight of cleverness.” Thomas Huxley. Not all successful people possess genius talent. It would be a fair bet to say that a vast majority of them were no different from you and I when they started.

And they failed too. Often. But while most people tend to get demoralized at the first sight of failure, what they did was get right back up and try again. And again. And again. Until they succeeded. Can you?

4. You are passionate about what you are doing

“Don’t aim for success if you want it; just do what you love and believe in, and it will come naturally.” A timeless advice from David Frost. Work is hard. Always has been and always will be.

Trick is to choose a line of business you’re so passionate about, that you will actually enjoy working hard. Look at every person in history who started a business and succeeded at it. They’ve always been exceptionally passionate about their work. Are you?

5. You enjoy learning

“I am not afraid of storms for I am learning how to sail my ship.” From the American novelist Louisa May Alcott. Like the world in its entirety, the business world is one big mystery. And people who actually believe they know it all might very well know nothing at all.

To successfully “sail your ship” you need to continuously feed yourself with knowledge and ideas. For which you must genuinely enjoy learning. Do you?

6. You have good people skills

“There is only one way to get anybody to do anything. And that is by making the other person want to do it.” Dale Carnegie, legendary self-improvement and interpersonal skills guru.

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People constitute the world and influence how it runs. So it’s a no brainer that they ought to be at the essence of any business venture. Might be your investors, or your customers.

To succeed at business, you need to be excellent at understanding other people’s intents, and effectively communicating your ideas to them. Are you?

7. You are a visionary

“The visionary starts with a clean sheet of paper, and re-imagines the world.” From the author of the popular book “Outliers”, Malcolm Gladwell.

Visionaries make lasting business people. What sets them apart from the casual folks is that they can see to the end. And accordingly, they know what needs to be avoided and what needs to be done to succeed.

If you want to own a business and be successful one at it, you must be know where it’s headed. Do you?

8. You have a good business team

“Alone we can do so little; together we can do so much.” Helen Keller. No successful venture in history was ever started alone. Behind every successful “self-made” person you hear about, are seldom heard of people that actually run the engines of the business.

The idea is not to be as independent as you can. That’s simply not how it works. What you need is to have is a team of loyal, dedicated and talented people that not only can, but actually enjoy laying the bricks to your castle. Do you?

9. You are creative

“The painter has the universe in his mind and hands.” Leonardo da Vinci. Creativity is the ability to create new things and find unique solutions to existing problems. Sounds like a pre-requisite to any aspiring business person.

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To stand out in your line of business and succeed, you will have to bring something different to the table. Can you?

10. You despise authority

“If ever you feel like an animal among men, be a lion.” Criss Jami, in “Diotima, Battery, Electric Personality”. It is a rule of thumb. People who have a predisposition to starting a venture and succeeding at it have at the least a healthy disregard for authority.

The very fact that you want to start a business and be your own boss is proof enough that you have no intentions of directly working under someone else. You like to think for yourself. Don’t you?

11. You can take risks

“A ship in harbor is safe, but that is not what ships are built for.” John A Shedd. In a world surrounded by uncertainty, fluctuating market for instance, the one who embraces this uncertainty isn’t always safe from its claws. And this very fact scares a vast majority of your competition away from the game.

But you must know that security and success don’t always come hand in hand, especially not as long as you’re still chasing the latter. You’re not in the game for security. You’re here to risk it all and win. Aren’t you?

12. You know your limits

“Oh, I’m not just going too far, I’ve arrived.” Jose Saramago, in “Seeing”. Know when to stop. Even if the years don’t make you smarter, they always make you wiser. And at some point you just realize you can’t have anymore.

That’s when the wise one knows s/he doesn’t need anymore. Successful people can calculate success as well as they can dream of it. Can you?

13. You are organized

“For every minute spent organizing, an hour is earned.” Benjamin Franklin. Unlike the common folks, business people don’t like to waste more time preparing for a work than on the actual work.

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For a business to succeed, you have to organize few things beforehand. Finding a retail partner or having your own website, as per the business needs, is a pretty good sign that you’re ready to dive into the world of business.

When that’s inevitable, they learn from the new experience and make sure it never happens again. They have everything they need whenever and wherever they want it. Simply put, to be in control you need to be organized. Are you?

14. You are a leader

“Leadership is the capacity to translate vision into reality.” Warren Bennis. Often, it’s believed good leaders are born. Actually, good leaders are made, they’re product of experience, training and necessity, amongst others.

And you know a good leader when you see one. Given a vision and all the necessary tools and crew at his/her disposal, a good leader knows how and when to lead. Do you?

15. You know your game

No famous quotation for this one. Simply cause it’s a no brainer. Before you can play a game, you need to know the game. Always know that there are people out there who are already doing what you plan on doing. Many of them professionals. And they’re all your competition.

If you’re planning on entering a particular line of business, you need to make sure you know sufficiently enough if not as much as the people already in that business first. Only then you can act smart. And then, you dribble your ideas to goal. So do you know your game?

Featured photo credit: Business People via Flickr.com via farm6.staticflickr.com

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Nabin Paudyal

Co-Founder, Siplikan Media Group

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Last Updated on September 29, 2020

How to Start an Online Business That Will Grow and Succeed

How to Start an Online Business That Will Grow and Succeed

Unsurprisingly enough, all businesses are online today. Considering the advances in the smartphone industry as well as the increasingly accessible internet facility, it was only a matter of time before businesses took advantage of the online environment.

This increasing popularity makes for a promising future for a lot of young entrepreneurs. And knowing how to start an online business will open up a world of possibilities for you that was not possible 10 years ago.

So, keeping the potential for exponential growth in mind, let’s dive into the article below, and explore the steps of starting an online business that will bring you success.

1. Becoming the Master of ‘ONE’ Trade

Most successful online businesses are the master of one trade. And that’s why beginning with a niche is always a good idea.

A niche market is a focused segment within a larger market. Imagine a men’s shoes market and then, imagine handcrafted brown Italian leather shoes for men. While the previous one is a bigger market, the latter one is simply a more focused segment within that market.

Knowing the niche helps a lot to start an online business and if you are feeling a bit lost, here are some self-queries that will act as a perfect guide:

What Speaks to Your Heart?

This first way of discovering the niche is perfect for those who want to do what they love. Working in a market that you love will ensure that constant excitement and drive to do better, eventually leading to ultimate prosperity.

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Decisions Based on Knowledge

The second way is perfect for those who have a lot of untapped knowledge about a specific industry. Utilizing the insights on a specific industry is a great way to find a niche. This way, you’ll already know all the ins and outs of the industry and can easily get ahead of all the competitors.

Undiscovered Potential

Lastly, conducting research into various industries and finding an untapped segment is another amazing way of finding the right niche. This practice will require you to come up with a new and unique solution for uncatered audiences.

2. When Is Your Idea Valid?

All the great ideas for starting an online business needs to be valid. And once you have found the niche, this validation process is what comes next.

Proving the soundness of the idea is not at all hard. A detailed industry examination is all you need initially to understand the value of the concept and recalibrate it to turn into a great online business.

Market research is a systematic unraveling of the target market. This research will include all the information on the product/service you are about to sell, the target audience, and how the competitors are operating in this crowded market.

This in-depth research will give you the initial idea of how the products can make an impact in the outside world. And once the small online business ideas are validated, it will be time to move on and craft a plan and start working on establishing the business.

3. Crafting the Map to Success

Having a proper plan for an online business is like having a map when you travel to an unknown city. This is a document that includes all the factual information on the business and crucial business data.

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To help you out, here’s a list of all the information online business plans must include:

  • An idea of objective – The best online business plans always have a clear outline of the business goals and intentions. Having this clear outline will increase the efficiency of business functions later on. The target demographic, business model—all kinds of information needs to be a part of this document.
  • Taking stock of available resources – A startup needs to utilize all the resources it has, and that’s why the plan needs to have an in-depth outline of the financial resources in use as well as the employees and their expertise. With a better idea of all the resources in hand, starting an online business will be an easier process.

4. The Virtual Storefront: A Process of Development

The steps of how to start an online business are incomplete without the website creation process. With the right website approach, you can easily succeed in increasing business revenue.

What does that perfect business website look like? Let’s follow these steps to create an effective business website.

Choose Your Approach

There are numerous ways of making a website and for a positive outcome, you need to choose the perfect approach. Depending on the business model, initial finances, and end goals, there are two kinds of approaches for the online storefront:

  • Third-party approach – Third-party platforms will connect you with the customers out there. For small online business ideas, Creating an account or site with these platforms will be beneficial because these platforms come with a large array of services as well as a big enough existing consumer base ready to utilize.
  • Creating a new website –  A business-specific website will help you eliminate the third party go-between and connect directly with the buyers. With this approach, you get more control over the business and how it is presented to the consumers out there and the revenue you make. Any of the above-mentioned approaches can be beneficial for easy online business startups. However, to achieve some specific business goals, having a customized website will be more beneficial for you.

Design Can Bring You Maximum Success!

For those who have decided to create their own site, the design is of paramount importance. With a great design, you will be able to engage and interact with the visitors better and encourage them to make a purchase.

The design, however, is not just a matter of aesthetics. A website’s design encompasses all aspects of it, from the visual effects to the content that’s used on the site.

To create a truly amazing design that reflects new online business concepts here are a few matters to consider:

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  • Keep it responsive – Many markets are simply skipping over the desktop phase and launching the business for mobile users around the world.[1] Considering this popularity of the mobile internet market, the business website has to be responsive. This approach will help you to reach a bigger audience and conduct business on a larger scale.
  • Users want a fast experience – Using high-quality images on the site does improve the visuals, but make sure all those images are compressed. Having a faster website will enhance the user experience on the site. Besides compressing all the media content on the site, you can also utilize an asynchronous loading technique that loads all the contents simultaneously, reducing friction. With a faster site, it will become easier to implement the online business startup ideas into reality.
  • Define the brand – The design stage determines a lot of things for the business website and one of those things is the business image. To make an impact on the world with the business, you have to create a perfect image and for that, a brand guide is necessary. The brand guide is a document that includes all the information and guidelines on various visual elements on the site that makes up the business personality. Based on the kind of image you want to create, all the elements will be outlined in this documentation.

Where the Website Becomes Reality

Since we know how website design helps to launch a successful online business, it is time to move onto development. Online business development is where the idea becomes a reality. And to make this reality perfect, you need to make sure that the development and deployment process goes well.

A high performing site always includes all the right features that enhance the user experience as well as helps you to convert more traffic. And for the best results, ensure the use of only the latest tech stack during development.

Here are some development issues you have to pay attention to while building the business website:

  • The right partner makes all the difference – For small startups who are wondering how to start an online business, finding the right development partner is going to make all the difference. However, before making a decision, there are a few things you should contemplate. The team that you are about to hire should have experience in catering to your industry, as well as an extensive portfolio and good reviews. Additionally, it will be perfect if the agency or freelancer also provides a 360-degree service, from development to maintenance.
  • How to assure the quality of the site? – Testing the site is an integral part of the answer to the question of “how to start an online business?”. An experienced partner will be able to help you the most with this. From security testing to split testing, this stage in development will help in understanding how well the site functions and what needs to change. And once the changes are made and the test results come clean, it will be time to launch the website.

5. Some Tricks to Increase Online Sales

Selling online is not easy, but not hard either. In a physical store, you can use campaigns, go door to door with pamphlets, and such. However, successful online businesses have their own style of campaigns that helps them to sell more without any problems.

So, what are these tricks?

Utilize the Magic of SEO

With an increase in quality traffic, the sales ratio will go up too. And to drive quality traffic on the website, you need to utilize the SEO tricks, and probably hire an SEO expert.

When starting an online business site, ensure all the content on the site is optimized to rank for the right queries by target consumers. With a higher rank on the SERP, the traffic will increase on the site.

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With the increase in quality traffic, it will become easier for you to convert visitors. The visitor data will help you to adjust the site performance. In brief, utilizing SEO will open the doors to a lot of possibilities for your small online business ideas.[2]

Entice With Free Value

Consumers today have lots of options to choose from. And keeping all that in mind, it will be wise to create a business plan for an online startup that provides free value to the users before asking them to buy something.

Consumers want to buy from someone who knows what they are doing, especially in the case of a curated service or goods provider. And that’s why to turn the profitable online business ideas even more effective, you need to start offering free value on the site, with free products and content.

Having a blog is also another way of displaying your expertise. With specialized content on the industry, you can easily grab the attention of the audience. And once assured of your knowledge on the matter, consumers will feel a lot safer about making a purchase.

A Killer Customer Service Is Everything

Your small online business idea needs a better service option. Using AI-based interactive features to implement better support for the global consumer base will prove to be extremely beneficial. With a 24/7 automated support channel, customers will be satisfied with your business and come back more often.

It’s an Easy Process: All You Have to Do Is to Start

And there it is, the simple five-step process of starting an online business that is bound to succeed. If you look closely, you’ll notice that there are not a lot of differences between creating a physical business and an online one. The main differences are only in the consumer and competitive landscape.

While a physical store faces and caters to local competitors and consumers, the online business has to deal with the same on a global basis. So, focusing well on the global market landscape while crafting the plan will help you succeed.

More Tips on How to Start an Online Business

Featured photo credit: Austin Distel via unsplash.com

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