Before starting a business both online and offline you have to take into account 4 things:
1. Define your niche
There are 2 approaches when choosing a market niche or theme to develop a business:
- Internal focus. It is the one that is based on the skills, knowledge and passions of the entrepreneur. External focus. It is the one that is based on demand, "if there is a lack of cakes, I mount a pastry shop."
The correct approach is one that combines the two approaches. If your business is based on demand, you will have to learn about it or hire people who have skills, knowledge and passion about the topic to be developed. And if your business is based on your own skills, knowledge and passions, you will have to find a niche where you can develop.
To develop these two approaches we must focus on two fundamental works that are the following two points:
2. Study the market
Within a market study there are 3 key points:
- Analyze the demand. If there are no people with money to spend and who searches the internet for what you offer, then there is no business. Who they are, "how many there are", what they need, how they look for it… you will have to analyze all the possibilities. Analyze the offer. Surely you are not the only one offering that product or that service in your market niche, analyzing who is offering the same, how it is offering it and what its deficiencies are to your advantage when defining your niche and your offer. Analyze trends. It is about studying if the demand in your niche is temporary, that it only occurs in certain times or if it lasts over time.
3. Satisfy the demand
This is where you define your offer, here you define what your selling weapons are and how you are going to develop marketing strategies that bring your product or service to your customer. Here it is important that you work several things to create the difference that makes people buy from you instead of your competitor:
- PUV (unique sale proposal). A PUV is a short summary that precisely defines what you offer, represent or do and that positions you as something different in the minds of your clients or potential clients. Brand and positioning. Based on your PUV, your brand (personal or company) will represent your position in the market. It is simply to capture in a brand (slogan, logo, content, etc.) how you want others to see your business. Offering specialized content and services will make you enter through the door that says "Welcome" to your client's house. The fact that they see you as someone willing to share their knowledge is something that will give confidence and credibility to your brand and ultimately to your business.
4. Think and act like an entrepreneur
If you start a business no matter how small you need to do things and act like an entrepreneur. If you start a business and continue to act as an employee, you may not be very successful.
The goal of the entrepreneur is to assemble something that works without the need for his work or presence, which is known as creating an asset. For that you will have to be willing to work hard at first and "be open" to failure. Being an entrepreneur is taking that risk and that job.
