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How to Start a Business as a Single Person

We have studied hard in the past (I hope you did),and we got some knowledge as to how discipline as a core value should be included in our daily lives.

The mindset of starting your own business isn’t part of any lesson unless you take up a Business Course. It gives an idea to every person that being employee is just being as good as a businessman.  Well, in the real life, it’s not.

Many Advantages and Benefits of a Business

There are lot of benefits and advantages of starting your own business not only for your personal finance but also for your character. I mentioned earlier the word, “discipline” as this refers to a wide range of topic which involves your personal activities – how do you manage your life.

To start your own business, you must have an idea on what type of business you will run. The prevailing wisdom in this part is what you know or actually your passion. You passion determines your professionalism and it affects how you see things in a business.

What aspect in your life are you passionate with? Even if you think you’ll face many challenges when you keep your passion to motivate you in business, everything will be worth it. Given that it’s not only your motivation to continue with the business but also pushes you to learn about the ins and outs of your chosen industry.

Find and Identify Your Passion

The moment you identify your passion, all things will go well. Even if you lack in capital to start your business, you can still gain customers or clients with just a simple ad or blog online.

Use social media as your tool to look for potential customers who will be interested with what you are offering to them (product or service). The best way to contact them is through email. Given that it is easy to send a personalized message, and email whatever service provide they do have, is easy to access through mobile phones or other gadgets.

Be Ready For The Barriers They Will Come

The pretty challenge for one-man business or sole entrepreneur is that most of the time, they don’t have other sources of income. They just only depend on their start-up business. This is a difficult situation for many, given that when the business fails, they don’t have money to use aside from their savings.

Another barrier but is a requirement though is the venue or location of your business. You should target a location where you think your customers are passing by and can be easily seen by your targets (customers/competitors). If the venue is beside your competitors, create a strategy on how you gain competitive advantage over them.

At first, you don’t have enough budgets to market or promote your business. Knowing this, you should find ways (cheaper) that will make your business known for others (customers, people within your community).

Create corporate social accounts like Facebook page, Twitter and Linkedin. Use them as your own advantage to generate leads through outreach and/or relationship building. Know your customers’ satisfactions and expectations. Make something unique that you think they’ll be interested to know more about you and your service.

Be Involved and Make Connections – Network

Be involved in communities (forums and blogs) in order for you to get insights on the trends/news that your customers would love to read, share and know about. Answer common questions related to your industry/business. Don’t promote your business by spamming comments and ads all over the web.

Make connections with people (industry leaders) whom you can gain popularity and absorb followers and customers as well. Partnerships and associations are best built through outreach and rapport.

As you get started your own business, you’ll encounter problems such as negative comments/feedbacks from unsatisfied customers. Reply immediately or give an answer to their common questions. Never ignore comments about your brand. Otherwise, it will affect your business negatively.

When you start to earn money in your business, you must save a portion of it for future purposes (investments, plant/brand expansion). The more you do it, the likelihood of achieving your financial goals is higher.

If you’re an entrepreneur, what are you steps back then starting out your own business? How do you manage your money and time to fulfill your business goals?