Advertising
Advertising

7 Things People Starting Their Own Business Should Know

7 Things People Starting Their Own Business Should Know

Gone are the days where the most viable option for most citizens to get an income was to get the regular 9 to 5 job. We live in an era where, through the power of the internet, the possibilities are endless—all it takes is for you to reach out and grab one.

A popular alternative option is entrepreneurship. What’s not to like about starting your own business? You get to be your own boss, plus you get to create, develop, and sustain something that you are passionate about. Starting your own business is no walk in the park, but it is one of the most amazing experiences that would reward you with a great life.

Ready to take on this journey and be part of the entrepreneur movement? Read on to learn the seven things that people who are starting their own business should know.

1. You must evaluate yourself.

Taking note of your expectations from the very start will make the path to building your business easier. You have to evaluate your reason for starting a business, your current skills and capacities, and any other relevant realizations that would aid the backbone of your business. It may seem daunting, but by knowing who you are, what you can offer, and what you expect to happen, you will ultimately determine how to go about things. No matter what happens, your personal aspirations will keep your morale up in the long haul.

Advertising

2. Your business starts with a great idea.

Ideas are the seeds that grow forth to become the great things we now experience in this world. You have to put great thought into coming up with one that fuels your passion because your business will be taking up a lot of your time, money, and energy. It needs to be more than an idea that nourishes you, it must also fulfill the laws of business: supply and demand.

Think about an idea that other people will believe and buy into. As much as possible, make sure that it’s unique so you stand out. Don’t be discouraged that just because there are plenty of cool things around for us to consume, that there might be fewer ideas to jump on. Everything we have now wasn’t present a few years back, and look at all the stuff we’re enjoying now. Your great idea is out there. Get inspired and then develop your plan. Bootstrap it to facilitate the idea into reality, starting with the most basic operations first.

3. Your excitement and stress will overwhelm you during the planning stage.

Now that you’re armed with a great idea, the next important thing to have is your business plan. This will be your roadmap, outlining the things you need to do, the cost of the entire operation, the strategies and tactics you have for execution, and the milestones to chart your business’ progress. Business plans are primarily seen as something to entice investors and banks with. But here’s a tip. More than its necessity for financing, think of your business plan as a means of formalizing your intentions.

For those people who didn’t take any business related course, you might be scared off by creating a business plan. Don’t fret! Everything can always be learned! There are so many resources that you can tap to help you create your business plan—case in point: the Internet.

Advertising

4. You will (more often than not) be forced to learn how to ask for money from everyone.

Businesses don’t magically pop out every time someone has a great idea. Ideas live in your head, but it is financing that brings it to reality. If you aren’t blessed lots of money in your bank account, this is the lesson that you will have to learn and not be shy about: Learn how to ask for money from everyone. There are many that you can approach to help you finance your business. You can file for a business start-up loan with your local bank, look into local investors that would be interested in your business, seek venture capitalists, use crowdfunding to help you raise the money, and the ever reliant approaching of family and friends. Looking for financing is always difficult; you could be rejected for a loan and might not be able to find interested investors.

But think of this as your training ground as a salesperson. To get investors, you have to learn how to sell your product. How will you learn to sell to consumers if you don’t know how to sell your business idea to people who could finance it? With this training, if you get investors to believe in you, then it is highly likely that you will get customers who will too.

5. Your office will be the second home that you will pour your heart and soul to.

When you have the financing to back your business, it is now time to set up shop. In business, just like real estate, this mantra is very important: Location, location, location. Whatever your business is, may it be a service where you would be needing an office, or a product where you would be needing a store, you must know where to place it. You want it to be accessible and appealing to attract more customers.

More than just the location, you also have to work on the atmosphere of your office/store and make sure it ties back to the brand of the business. Needless to say, you’ll be working on the aesthetics, buying supplies, getting necessary items installed, have your business cards printed, hiring your staff, basically building your second home. It will be exhausting, but also exciting at the same time.

Advertising

The beginning is always difficult, but isn’t it unbelievable exciting? We set up the success of our business by its origins, so make sure that in every step of this stage, you give it thorough thought.

6. You have to be creative when building your business’s customer base.

The magic phrase that will get your business its customer base is PR and Marketing. You have to build your brand, and then create a creative strategy to attract customers. It’s best to hire an expert in this field, to make sure that you’re getting a well thought of strategy that your brand will follow in years to come. Nowadays, there are so many creative ways to get your brand’s name and product out there. To be competitive, you need to come up with out of the box ideas on how to market your brand and keep the people coming back to your business.

Have you ever checked into a hotel or dined in a restaurant where you were given great service by people who were happy to assist you and made sure your experience there was pleasant? Treat this as a “never forget” in business: great customer service skills also go hand in hand with the right PR and Marketing. Make customers happy by addressing their needs and you will find yourself retaining and growing your customer base.

7. You will flourish with trial and error.

If you ask any entrepreneur, from the small time internet shop to the big time CEOs of Fortune 500 companies, they will always tell you that the road to building their business was/is never perfect. There is no easy formula to follow that will guarantee your success in business. “You will flourish with trial and error”, as shared by Sagar Babber, CEO of Snyxius, who relocated to Austin to kickstart his web and mobile app development company and now serves clients from over 10 different countries.

Advertising

There’s no harm in creating mistakes because it is with mistakes that we learn best. And when we learn, we are able to find ways on how to make the situation better the next time. So don’t be afraid to stumble and bumble once in a while, because if you take it in stride, these mistakes will be what ultimately lead you to your success.

Starting your own business is undeniably one of the biggest risks that any individual could take. With the right mindset, the right idea, and the right work ethics, any business can thrive. You will be tempted to quit when faced with the frustration, rejection and hardships that happen in the beginning, but the one secret that you should remember is this — don’t stop. Great businesspeople never stop when hit with setbacks. If that happened, then we would never have Apple, Ferrari, Paramount, or your favourite restaurant, favourite salon and all the other things that we enjoy now.

Starting your own business is never easy, but then again, aren’t the difficult things to come by the ones that you enjoy more in the end?

Featured photo credit: Steven Depolo via flic.kr

More by this author

Jonha Revesencio

Jonha Revesencio is a Business Strategist with years of experience developing digital media strategies.

50 Great People To Follow On LinkedIn, No Matter Your Industry Successful People and their Habits 9 Habits that Accelerate the Efficiency of Successful Entrepreneurs 8 Myths About Starting Business Which Prevent Success Natural Remedies for Anxiety and Depression Anxious Buddies, Relax! Try These 6 Herbal Remedies To Regain Your Peace And Calmness Easy Steps to Make Your First Million 10 Steps To Help You Make Your First Million Dollars

Trending in Communication

1 12 Simple Ways to Boost Your Confidence Right Now 2 How to Use the 5 Minute Journal to Invest in Your Happiness 3 What’s the Purpose of Life? A Guide to Live with Meaning 4 Why Happiness is a Choice (And a Smart One to Make) 5 How to Survive a Midlife Crisis (The Definitive Guide for Men)

Read Next

Advertising
Advertising
Advertising

Last Updated on January 16, 2020

12 Simple Ways to Boost Your Confidence Right Now

12 Simple Ways to Boost Your Confidence Right Now

The way you feel about yourself greatly influences how you live and interact with others. If you are confident about yourself, you tend to see yourself positively and actually enjoy spending time with and around people. You don’t feel self-conscious or awkward around others, and that allows you to live your fullest and happiest life.

However, if you’re drowning in a sea of self-doubt, hesitancy and shyness, you often withdraw and isolate yourself from others and avoid interacting and connecting with people. That anxiety you feel in the pit of your stomach when you are around people is holding you back greatly and it is not good for your emotional health and overall well-being. You need to do something about it if you are low in self-confidence or have friends or family members who are not confident.

“Confidence isn’t walking into a room thinking you’re better than everyone, it’s walking in not having to compare yourself to anyone” – Anonymous

Here are simple, practical tips to boost your confidence right now and make you feel and act your best.

1. Stop labeling yourself as awkward, timid or shy.

When you label yourself as awkward, timid or shy, you sub-consciously tell your mind to act accordingly and psychologically feel inclined to live up to those expectations. Instead of labeling and entertaining negative self-talk, visualize and affirm yourself as confident and strong. Close your eyes for a minute and visualize yourself in different situation as you would like to be.

Be your own cheerleader. Experts believe that positive affirmation and good mental practices like picturing yourself winning or achieving a goal can lead to greater feelings of self-assurance and prepare your brain for success.[1] As the saying goes, “seeing is believing.” Picture yourself as confident and soon enough you will begin to manifest behavior that gives evidence to this new ‘fact.’

2. Recognize that the world is not focused on you (unless, of course, you are Kanye West).

That means you don’t have to be excessively sensitive about who you are or what you are doing (or not doing). You are not on the center stage; there is no need for preoccupation with self and perfectionism. As rap music star Rocko sings, “You just do you and I will do me, aight?”

Advertising

Forget about trying to please everyone or being perfect. Trying to be perfect and being a people-pleaser puts too much pressure on you and creates unnecessary anxiety. Besides, people are too preoccupied with their own issues to pay much attention to your every move unless, of course, you are a mega famous, super celebrity like Beyonce or Kanye West.

3. Focus on other people as opposed to yourself.

If you are low on confidence, self-conscious, nervous and shy in social situations, focus your attention on other people and what they are saying or doing instead of focusing on your own awkwardness.

For example, think about what it is that is interesting about the person who’s the centre of the party or the guy or girl you are talking with. Prompt them to talk more about themselves and be genuinely curious and interested in what they say. You will instantly come across as confident and warmhearted.

People generally want to talk about themselves, be heard and understood. They will love it when you’re eager and willing to listen to them and really hear what they have to say.

This habit of focusing more on what you love in others as opposed to what you dislike in yourself will not only help you become more assertive and comfortable in virtually all social situations, but also instantly make you feel great about yourself.

4. Know (and accept) yourself for who you are.

Chinese military general, strategist and philosopher Sun Tzu, author of the internationally acclaimed book The Art of War, said, “Know yourself and you will win all battles.” Even in the battle with lack of confidence, you will need to know yourself to win.

Knowing yourself starts with understanding that people are not all the same, neither are all social situation suitable for everyone. You might not be confident in large gatherings, but you could be bold and confident in one-on-one and small group interactions. We all have our own unique gifts and unique ways of expressing ourselves. Embrace yours!

Advertising

Introverts, for example, have a quiet confidence that is, unfortunately, often confused for shyness. They are naturally low key and prefer to spend time alone. However, this natural disposition affords them certain unique gifts, such as an ability to listen better than most people and notice things that others don’t.

Your uniqueness is where your strength and advantage lies. You won’t be comfortable and confident in all situations all the time. Albert Einstein said,

“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”

5. Crack a smile.

If there is one sure way to instantly boost your confidence, it’s cracking a smile. Christine Clapp, a public speaking expert at The George Washington University, says that flashing those pretty, pearly white teeth will immediately make you appear both confident and composed. But, the effect of smiling is not just external. Studies show that smiling can also help nix feelings of stress and pave the way for a happier and more relaxed you.[2]

Not a bad return for something seemingly so trite, wouldn’t you agree?

6. Break a sweat—with exercise.

Working out is another great way to make yourself feel amazing and confident. Science has shown that exercising increases your endorphins, helps reduce stress, tones your muscles and makes you feel happy and confident.[3]

And hey, all you have to do is take a walk a few times a week and you’ll see the benefits. What seems to matter—as far as your confidence goes—is whether you break a sweat, not how strenuous your session is, which is pretty cool. Start working out now.

Advertising

7. Groom yourself.

This might seem mundane, but it’s amazing how much of a difference a shower and shave can have on your confidence and self-image. And when you spritz on a scent, the boost on confidence and self-esteem is incredible. As it turns out, your favorite fragrance does more than make you smell oh-so-nice.

A study found that a fragrance can inspire confidence in men. Interestingly, the study also found that the more a man likes the fragrance, the more confident he might feel. Another study found that 90% of women feel more confident while wearing a scent than those who go fragrance-free.

8. Dress nicely.

Another one that might seem trite, but it works. If you dress nicely, you’ll instantly feel good about yourself and give your confidence a real boost. That is largely because you’ll feel attractive, presentable and sometimes even successful in nice clothes.

While dressing nicely means something different for everyone, it does not necessarily mean wearing $500 designer outfits. It means wearing clothes that are clean, that you are comfortable in and that are nice-looking and presentable, including casual clothes.

9. Do activities you enjoy.

Whether it is reading a book, playing a musical instrument, riding your bicycle or going fishing, do what you really enjoy and what makes you truly happy often. It will boost your self-esteem, soothe your ego and allow you to identify with your gifts and talents. That will in turn bolster your self-belief and grow your confidence exponentially.

You might not become popular for doing what you love, but you might not even want to be popular at all. Being popular doesn’t make you happy; doing what you love does.

10. Prepare for the possibility of rejection / setback.

Late World No. 1 professional tennis player Arthur Ashe said, “One important key to success is self-confidence. A key to self-confidence is preparation.” You need to prepare for the possibility of rejection and setback.

Advertising

Why?

Everybody suffers rejection and setback at one point or another. You are not exempted. The question on your mind, therefore, should not be if you will be rejected, but how you will handle rejection when it comes.

Prepare yourself adequately in every situation to minimize the risk and effect of rejection and so that your confidence is not broken. For example, learn public speaking and rehearse what you are going to say beforehand if you have landed a public speaking engagement. That way, you are sure of yourself and confident you have what it takes to hack it. If you are rejected, don’t take it personally.

Rejection and setbacks happen to the best of us. Take it as a learning experience. Learn from your mistakes and move on.

11. Face uncomfortable situations square in the face.

Don’t run away from uncomfortable situations. Running away from people or situations because you feel scared, shy or timid only confirms and reinforces your shyness. Instead, face the situation that makes you uneasy square in the face. For example, go ahead and talk to that person you are afraid to approach, or go straight to the front of your yoga class! What’s the worst that can happen?

Prepare and be ready for any eventuality. The more you face your fears, the more you realize you are stronger than you thought and the more confident you get. This simple, yet admittedly courageous, act makes you unstoppable. You get comfortable being uncomfortable and begin to feel like you can take on the world. And that is the hallmark of someone destined for great things.

12. Sit up straight and walk tall—you are awesome!

Yes, sit up straight and believe you are awesome. Don’t slump in your chair or slouch your shoulders. Experts say the right stance can not only keep your self-esteem and mood lifted, but also lead to more confidence in your own thoughts.[4]

The way to sit is to open up your chest and keep your head level so that you look and feel poised and assured. And when you get up, stand tall and walk like you’re on a mission. People who sit up straight and walk tall are more attractive and instantly feel more confident. Try it now: you’ll feel fierce and confident just by sitting up straight and walking tall.

Featured photo credit: Freshh Connection via unsplash.com

Reference

Read Next