If you’re an entrepreneurial wannabe, here are some ideas to get you started.
So you want to be an entrepreneur? You don’t like bosses or you’re newly retired but too restless to just sit at home waiting for your kids to visit, or you need the extra cash.
The only problem is you have no idea which business to pursue.
A few key considerations to take into account before you get started:
1. Costs of production
If the cost to make or sell your item exceeds the money you will ever make from it, then don’t do it, try something else. You have to make a decent enough margin to cover the cost of renting a stall at the flea market or cost to hire a seamstress or cost of training. If your margins are tiny then you’re going to have to sell a heck of a lot to make any money.
2. Sales
The hardest part about being an entrepreneur is the sales, where are you going to find customers. Optimise your network of contacts buy making sure your neighbours and friends know about your services. Offer them discounts and just get them in the door for the first time to try it out. A glass of red or white wine won’t hurt either.
3. Marketing
Create a Facebook page with photos of the items you’re selling, once you’ve sold a few you can justify the expense of a proper WordPress site, if it’s well designed it will rank in Google and bring in most of your clients from there. Attend networking events and use social media to make sure there’s a constant stream of valuable contact and communication with your customers.
4. Business plan
Take the time to write out a one or two page business plan to make sure you’ve thought everything through properly, it will be worth the time and might save you a lot of time and money.
Don’t give up, being an entrepreneur is tough but it is always better than working for a boss. Good luck!
Raj Isaac Abraham
Entrepreneur
https://www.facebook.com/Raj-Isaac-Abraham-765159050257036/
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