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10 Ways to Kickstart Your Business Idea in 2016

10 Ways to Kickstart Your Business Idea in 2016

It’s never been a better time to start a business. Access to online environments and innovations such as smart devices and cloud technology mean that many entrepreneurs can set up on a shoestring and get things going without needing excessive start-up budgets. Add into the mix the wide availability of cloud-funding platforms and cheap marketing through social media and it’s easy to see the many opportunities that people don’t want to miss out on.

Here are just some ways to get your business idea off the ground if you have the entrepreneurial spirit this year.

1. Find the Right Support

You may have all the personal and physical tools in place, but you’re nowhere without friends. There’s no better time to start networking, building business associate relationships, and getting sound advice from people in your local area and online. The great news for startups is there’s plenty of guidance from other entrepreneurs who are happy to help out for free.

Take the opportunity to make solid, long-term contacts and research all areas of running a business. A good place to start is the Government’s own business portal.

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2. Organize Your Funds

While it can be cheap to set up a business nowadays, especially if you have the right idea, it’s a good thing to check what you can currently bring to the table. This should include any debts you have, which may need to be addressed first, and the amount of collateral you can use, if needed, to apply for a loan. If you are finding it difficult to make ends meet, you may well have more problems down the line when you start your business.

3. Come Up with the Right Idea

What may seem like a good idea over a couple of drinks in the local bar might not seem so bright in the cold light of day. Coming up with a good idea is imperative if you want to have any chance of success.

This includes researching how others are running businesses in a similar industry or niche. It also means being honest with yourself.

For a very successful business, the question of scalability is always an issue. In other words, when you come to grow, how easy and cheap is it going to be to carry that out? If you run a restaurant business, that might involve giving out franchises or spending money on new premises.

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Check out this article from The Guardian on how to find the right business idea.

4. Plan the Business

This is the crucial stage of any startup and the step that many entrepreneurs get wrong. It involves setting out clear stages and strategies, from getting financed, setting up websites, marketing, brand development, and deciding whether you need to have staff employed and where you are going to find them. As far as staff are concerned, there are plenty of options to hire freelancers who can do the initial jobs for you, though you may have to do some hard searching to find the right ones.

You also need to plan for a long-term future and not just look at the immediate setup of your business. There may be a lot to do but it’s important that you have your direction set for some time to come. Your plan should include how you are going to build capital and secure your business future.

You’ll need a strong business plan, especially if you are going to be heading to the bank for a loan or looking at crowdfunding. Check out this article from Start Up Donut for some sound advice.

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5. Check Yourself Online

If you have been working for a number of years, no doubt you have a persona online and you need to have a quick search to make sure it doesn’t have any negatives associated with it. Another thing to check, if you don’t want egg on your face, is the name of your new company and whether someone else has got there before you.

6. Register Your Business

One thing you are going to need to do is register your business. This used to be a complicated process, but with online sites such as www.companyformations247.co.uk, everything is reduced to simplicity and you can register everything within 3 hours. You need to do this in the UK if you have a limited company, and it includes registering with Companies House as well as designating directorial roles within your business.

7. Raise Money

Getting the finances together for a business idea is much more viable nowadays. You can use your home or other properties as collateral for a bank loan or choose to sell property and self-fund. Increasingly, many entrepreneurs are turning to crowdfunding to get their business ideas off the ground. If you have good presentation skills and a solid business plan, and can communicate how strong your idea is, then this a great way to get capital. You generally pitch your idea online and people from all over the world can help fund it in exchange for something you offer, for instance a free product or share of the company.

8. Develop Your Brand Online

If you are going to run a business nowadays, you need to develop your online brand and that means marketing. You should have looked into this in detail in the planning stage of your business idea, as it’s the key to success or failure.

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You need to build brand awareness, find a following, engage with customers, and use all the free and paid resources out there that help make your business thrive. This may include doing a lot of it yourself at first, but you can also engage with online marketing companies to help you choose the right options.

9. Test, Evaluate, Tweak, Test

While you had strong ideas for how your business would begin to develop, the chances are that things will not go completely according to plan. Even the most experienced entrepreneurs encounter hitches along the way. This is where you need to put in more hard yards. It’s a question of testing everything, evaluating it, tweaking, and then testing again to guide you in the right direction.

10. Plan for Growth

Once your business is up and running and you are satisfied with its progress, it’s time to take a look at that plan again and check whether you under or overestimated growth in the future. Now that you have a bit more experience in the real world, there will no doubt be new ideas that have to be incorporated to guarantee more success. You might need to think about getting other experts on board, or you could be looking to expand into profitable new markets.

There’s no doubt that running a new business requires a lot of good thought, strong planning, and putting in the effort, not to mention often working long hours. With some 50% of startups failing within the first five years, it may seem that you are swimming against the tide in the effort to succeed. If you have done the planning, come up with a great plan, and have the enthusiasm and energy to carry it forward, you stand a better chance of success than other ventures.

Featured photo credit: 10 Ways to Kickstart Your Business Idea in 2016 via google.com

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Last Updated on January 13, 2020

Is It Time for a Career Change? (And How to Make the Change)

Is It Time for a Career Change? (And How to Make the Change)

Are you challenged at work? Do you regret career decisions? Are you happy? If the answer to the questions leads to a negative feeling, it is time to determine next steps.

Many people settle for a career that no longer brings satisfaction. Most will respond by stating, “I am surviving” if a colleague asks them “How’s work?”

Settling for a job to pay bills and maintain a lifestyle is stagnation. You can re-direct the journey of a career with confidence by taking control of future decisions. After all, you deserve to be live a happy life that will offer a work-life balance.

Let’s look at the reasons why you need a career change and how to choose a career for a more fulfilling life.

How to Know if You Need a Career Change?

The challenges of dissatisfaction in a career can have a negative impact on our mental health. As a result, our mental health can lead to the obvious appearance of stress, aging, weight gain and internal health issues.

You deserve a career that will fulfill the inner desire of true happiness. Here are common factors that it is time for you to change your career.

Physical Signs

Are you aging since you started your job? Do you have anxiety? What about work-related injuries?

It feels amazing to receive a pay cheque, but you deserve to work in an environment that brings out the best of you. If the work environment is hazardous, speak to your boss about alternative options.

In the case that colleagues or your boss take advantage of your kindness, feeling the anxiety of fear of losing your job because of a high-stress environment may not be right for you.

Mental Signs

One out of five Americans has mental health issues, according to Mental Health America.[1] In most cases, it is related to stress.

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I remember working at a job in a work environment where harassment was acceptable. I had to walk on eggshells to avoid crossing the line with colleagues. My friends started to notice the difference in that I seemed out of character. It was then that I knew that changing a career to freelancing was the right decision.

Here is a list of mental signs of workplace unhappiness:

  • The tension in your neck
  • Difficulties with sleeping
  • Unable to concentrate
  • High anxiety
  • Depression

If you start to feel your self-esteem is diminishing, it is time to consider if working in a high-stress industry is for you. The truth is, this negative energy will be transferred to people in your life like friends and family.

Are You Sure You’re Not Changing for the Wrong Reason?

Most people that feel they need a career are frustrated with their situation at work. Do you really understand your current situation at work?

The reason it is important to think about the work situation is some people decide to change career for factors that are insignificant. Factors that can potentially change if the person works in a different department or new organization.

Here is a list of unimportant factors to think about before you decide to make the transition:

Desire for an Increase of Salary

The desire for a higher income can persuade some to believe they are in the wrong career. The issue with this is more money requires more time in the office or taking on several positions at a time.

At times, pursuing a high-income role can be the complete opposite of what one is expected. It is what happens when a colleague leaves a company to a new one and returns several years later.

Overnight Decision

Let’s face it. We make overnight decisions when stressed out or disappointed with situations at work. The problem with a quick decision is the negative and positive points is overlooked.

Rejected for a Promotion

I have heard stories of managers that applied ten times for a position throughout a 5-year period. Yes, it sounds to be a lengthy process, but at times, a promotion requires time. Avoid changing a career if you do not see the results of a promotion currently.

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Bored at Work

Think deeply about this point. If you work a job that is repetitive, it is normal to feel bored. You can spice it up by changing the appearance of your desk, socializing with new employees in a different department, joining a leadership committee at work or coming to work with enthusiasm. Sometimes, all it takes is you to change jobs into a fun situation.

A career change can take time, networking, education and the job search process can be a journey. Here is a list of things to consider before making a final decision:

  • How long have you worked in your career?
  • What is the problem at work? Do you work well with the team?
  • Do you receive recognition?
  • Can you consider working in a new department?

If after reviewing your work situation and none of the above recommendations can help, then it’s time to make a career change.

How a Career Change Will Change Your Life

I have a friend that works in the medical industry. She was once a nurse working directly with patients in one of the top hospitals in her area. After five years, she started to internalize the issues with her patients to the point where she felt depressed after work hours. It impacted her relationship with her family and she almost lost herself.

One day, she decided to wake up and take control of her destiny. She started applying for new medical jobs in the office. It meant working on medical documentation of patients which is not an ideal career based on what society expects a medical professional to perform. But she started to feel happier.

It is a classic example of a person that was negatively impacted by issues at work, stayed in the same industry but changed careers.

A career change can fulfill a lifelong dream, increase one’s self-esteem or revive the excitement for one’s work.

You know a career change can be the right decision to make if you experience one or all of these:

  • Working in a negative workplace: Don’t be discouraged. A negative workplace can be changed by working at a new organization.
  • Working with a difficult boss: The challenges of working with a difficult boss can be stressful. All it takes is communication. You can address the issue directly with a manager professionally and respectfully.
  • Feeling lost about what you do: Most people stay at their jobs and settle for mediocrity because of the fear of failure or the unknown. The rise to success often comes with working a tedious role or stepping outside of one’s comfort zone. If you fear the idea of being involved in activities that are new, remember that life is short. Mediocrity will only continue to make you feel as if life is passing you by.

How to Make a Career Change Successfully

The ultimate key to success is to go through a career transition step by step to avoid making the wrong decision.

1. Write a Career Plan

A career plan has a dead line for action steps that includes taking new courses, learning a new language, networking or improving issues at work.[2] A career plan should be kept in your wallet because it will motivate you to keep pursuing the role.

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You can learn how to set your career plan here.

2. Weigh Your Options

If you have a degree in Accounting, write down five positions in this industry of interest. The good news is diplomas and degrees can be used to a variety of roles to choose.

You don’t have to stick to what society holds a top job. In the end, choosing the right role that will make you happy is priceless.

3. Be Real About the Pros and Cons

It is time to be honest about strengths, weaknesses, opportunities and threats in the job market that are impacting the current situation.

A SWOT Analysis of a career can include:[3]

  • Economic factors
  • Direct competition: Is this role in high demand?
  • Location: Do you need to move? If the goal is to work in tech and living in Cincinnati is not realistic, consider moving to San Francisco.
  • Achievements: To stand out from the competition achievements like awards, committee involvement, freelance work or volunteering is a recipe for success.
  • Education: Do you need to go back to school? Education can be expensive. However, online courses, webinars or self-study is an option.

    A career blueprint is the first step to creating realistic goals. A person without goals will be disappointed without a clear direction of what to do next.

    4. Find a Mentor or Career Coach

    A mentor or a career coach that works in the desired position can share the pros and cons of working in the role. Here is a list of questions to ask a mentor:

    • What is required to be successful in the role?
    • What certification or educational development is needed?
    • What are the challenges of the role?
    • Is there potential for career advancement?

    A chat at a coffee shop with a mentor can change your mind about the desire for a career change.

    Find out how to pick a good mentor for yourself in this article: How to Find a Mentor That Will Help You Succeed

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    5. Research Salary

    Some people decide to change careers for a role that pays less or perks like benefits to make up for the difference in previous to potential salary.

    It can reveal the cities throughout the country that offer a higher salary for those that have an interest in relocating for work.

    6. Be Realistic

    If your goal is to move up into an executive position, it is time to be honest about where you are in your career.

    For example, if boardroom meetings, high-level discussions about financials or attending weekly networking events are boring, an executive role may not be right for you. If you are an introvert and working with people every day is nerve wrecking, you need to reconsider a job in sales.

    Ask yourself if you can work in this role for the next five years of your life. If other benefits that come with the role are enticing, other roles are fit that will make you happy.

    7. Volunteer First

    A person that wants to become a manager should take on volunteer opportunities to experience the reality of the position.

    Becoming a committee member to pursue a presidential opportunity can provide a perspective on leadership, maintaining a budget and public speaking.

    Volunteer in a role until you are certain that it is the right opportunity.

    8. Prepare Your Career Tools

    I recommend asking a boss, colleague or mentor for career tools. If you prefer professional assistance, you can seek out resume writing assistance. Here is a list of things to consider when preparing career tools:

    • Online search: Search your name online to see what shows up. I recommend searching images that are on Facebook, Twitter, Snapchat or other sites on a personal account. The last thing you want to realize is the job search is unsuccessful because there is unprofessional content you posted online.
    • Be LinkedIn ready: Recruiters conduct a LinkedIn search to see if the work experience is the same on a resume. Remember to change the wording on LinkedIn from the resume, or it will appear there was no effort put into creating the profile.
    • Portfolio: A portfolio of work is recommended for people that work in the arts, writing, graphic design and other fields. I recommend a portfolio online and one that is available in hand when attending job interviews or networking meetups.
    • Cover letter: A good cover writer will always impress your potential employers. Here’s how to write a killer cover letter that stands out from others.

    Bottom Line

    It takes time to move towards a new career. Pay attention to the physical and mental signs to maintain your health. You deserve to work in happiness and come home stress-free. If you avoid the common mistakes people make, you will find a job and discover the role in a career field that is the best fit with your skillsets.

    Master these action steps and changing career paths will be on your terms to make the best decision for your future.

    More About Career Change

    Featured photo credit: Pexels via pexels.com

    Reference

    [1] Mental Health America: The State of Mental Health in America
    [2] MIT Global Education & Career Development: Make a Career Plan
    [3] Creately: Personal SWOT Analysis to Assess and Improve Yourself

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