There's no question that the COVID-19 pandemic has been especially hard on the U.S. economy, and you might be thinking this is a crazy time to start a business. But the truth is starting a business is never easy, no matter how much the economy is thriving. Plus, there are some unique opportunities right now for entrepreneurs, not the least of which are the historical availability of financial assistance and labor. Maybe you've been dreaming of becoming an entrepreneur for a while, have recently suffered a career setback, or are simply looking to change the trajectory of your career. Whatever the case, now could be the perfect opportunity to move forward with your life goals. If you have a passion for a particular product or service, you're already one step ahead of many aspiring entrepreneurs. Now, you just have to figure out how to turn that passion into a flourishing business. SMBGU is all about helping small businesses find success, which is we've provided some quick tips for how you can get off to a solid start:
Get A Side Hustle Going
From moonlighting to full-time — that's the story of countless successful entrepreneurs. If you have yet to do so, start putting your passion into practice, even if it's just for a couple of hours in the evening. For example, if you love woodworking, you can craft your products after you get
home from work and sell them on a platform like Etsy. This will allow you to hone your skills and possibly make a little money that you can put into your business venture.
Seek education
There's always room to grow and learn. Take whatever steps you can to learn as much about your industry as possible. Teach yourself by reading career development books, attending industry events, and speaking with industry experts. Also, consider pursuing a degree that can help you turn your passion into a business. For instance, you can get an online computer science degree and boost your knowledge and skills in data structures, AI, logic, computer theory, and more. There is a high demand for these fields, and studying online will provide you with the flexibility necessary to work as you go to school.
Define Your Offering
Even if you already have a product or service you want your business to offer, you need to make sure it is well-defined. This means determining how it is different than others on the market and how it is meeting an unmet need for consumers. After an honest evaluation of your product/service, if it doesn't seem to stand out among the competition, you will need to tailor it
until it does.
Take Baby Steps
Running a business is complex, but don't be intimidated. Lay a solid foundation by starting small. For example, create one product, and sell it out of your home or online through an inexpensive platform like Etsy or Amazon. Or, offer one service to someone in your network. Keeping it down to a single offering will enable you to get the feedback necessary to refine your product or service so that it's ready for production. By starting small, it will also be more realistic for you to bootstrap your business. This means that you pay for much of the costs yourself rather than obtaining funding that you will have to pay back later. If you want to do something you're passionate about every day of your life, then starting a business could be the answer. And despite the obstacles brought about by the pandemic, this is as good a time as any to pursue your dream. Consider these tips for a solid start, and remember to believe in yourself in the process.
Article Submitted by Marcus Lansky
of Founder of Abilitator.biz
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