You are one of the many millions of people who do not like their status quo and they really want to get out of it but procrastination, the fear of the unknown, and some other factors will not let them. You see, starting a new business is not rocket science and anyone can launch a business in 90 days or less. You need the right information and you need to be ready to start, do not hold back “just start”.
Do You Have an Idea?
For some people, ideas flood their minds and they sometimes get overwhelmed, consumed with doubts and “perfectionism”. For other people, they simply do not know what to do, yes, they would like to run a business of their own, but what business?
The ultimate key to this problem is SOLUTION. Whether you have a genius idea or not, it does not matter if the idea does not solve a problem. So first, think of a problem people are facing, when doing this, keep in mind that you need to think of a problem many people are facing, not just few members of the society, but a whole lot. On the other hand, if you happen to have so many ideas, the same approach should be used, think of a problem many people around you are facing – it does not have to be a complex problem, just something simple.
Once you can pen down a problem, the next step is to think of a solution that people who have that problem would be willing to pay for. Again, the solution is important, therefore, see that the solution can be accessible to people who have the “problem”. The solution must be sellable, in the sense that you can market it offline or online depending on the problem. Lastly, your solution must be legit, do not go against the law in your town.
Note: do not let this thinking process weigh you down, do not dwell on it, execute it. If you cannot think of any problem or solution, reach out to experts who will come up with ideas. However, friends and family can do this as well, just ask them. Two weeks is enough for this stage.
Study the Market
At this point, you already know what you want to do but you lack some valuable information about it. There is hardly any business idea that does not already exist in some way. So, go out there, look around you, ask questions. Ask experts, find out the cost of producing your solution, how to get your target audience to become aware of your solution – how to make your solution accessible to your target customers/clients. Find out the laws regulating your kind of idea in the business sector. You need to be on the safe side and not step on any toes. By this, I mean follow the rules set by your government. Learn about your competition, study people/businesses that already offer your solution. Find their flaws, that will help you to avoid them when creating your solution.
Ask your target customers questions concerning the problem they’re facing and if they’d like your proposed solution. This is so that you can know how to serve them well. You would also learn how badly they need your solution, and this will help you determine your pricing.
Find out the best location for the running of your proposed business. If offline, find a suitable location that will enable you to reach your target audience. If online, then research on the process of starting and running a business online – you need a website, you need to maximize social media, get to know your business.
Note: you don’t need to have all the details, get to work with whatever information you have. This should be done in two weeks – four weeks.
Write Your Business Plan
With all the information you have gathered, you can then get down to write a business plan. If you do not know how to, just outsource it to a pro. Do not even dwell on it.
Two weeks is also enough for this. Do not forget to give the pro writer relevant information once you ask him/her to write your business plan – do not be the cause of delay.
In Betweens (Fund and Others)
“What about capital?” Oh, I did not forget about it, it is just not the major problem when it comes to launching a business in 90 days or less, the problem is acting. In any case, money is also important because you need to be able to fund your idea. Your savings will come in handy here, friends and family are your best shot. Do not start looking for an investor, which might take forever. You only need to talk to your friends and family who believe in you over dinner or coffee or anything that works for you. Be convincing, make them believe in the idea, you would be amazed by how much their support can do.
Some family and friends will not support with money, but they can support you by advertising your new business to the world. You can use them to execute some of your ideas, make them run errands and get them to work on the idea.
Note: there is no point dedicating time specially to this, you can do this at the same time you are working on the business plan. More importantly, you do not need millions to start a business, start with whatever you have.
You do not need a big idea to start a business neither do you need big capital, just start!