Many wide-eyed college graduates will look to start a business in their lifetime. With over half of them taking the plunge into the business world. Last year alone, around 700,000 people started new businesses in the United States alone.
The entrepreneurial spirit has seemed to have been captured by the youth of today. Because of this cultural mantra that seems to be sweeping the world, I am going to give you a few tips to help you start a business when you know nothing about business. So, you can make your dream a reality.
Be Committed to Personal Growth and Self-Improvement
Start reading books about entrepreneurship. Read about conferences and attend some if you get the chance. Reach out to local business leaders and ask for their insight on how they got started and what you can learn from their experience to get you started yourself. In short, develop a genuine love for learning about the piece of business that grabs your attention. Do not be afraid to really dig into their numbers as well. Be as committed to detail-orientated research as you can. Conferences are great for networking and inspiration but you need to crunch the numbers as well.
Harbour a Bias Towards Action
Learning through books and talking to people is a fantastic place to start. But the best way to learn is to forge your own path by trying things out. Act and learn through experience. Failing is totally fine, especially in the beginning, it is actually encouraged. So, pick up that phone, send that email, go to that interesting conference. Do what you have to do to make the right connections and get something moving in a direction.
Share Your Ideas
If you ask someone to sign a non-disclosure agreement, or if you pass on the opportunity to receive useful feedback because you are scared someone will steal your brilliant idea, you telling everyone you meet that you are naïve. When starting out, the more feedback you get the better.
This means that you must be open to sharing your ideas at every opportunity because you never know when you will get that nugget of wisdom that helps you make your business a success. Do not forget that the game is not to create something entirely new – the most successful businesses are often defined by their execution over their ideas. Look at Apple for instance, they are a classic example of execution over originality.
Keep the Customer at the Top of Your Mind
As you think about various business opportunities, always try to put yourself in the shoes of your ideal customer. What specific value could they gain from your product or service? What need are you meeting? Leave the office and go immerse yourself in the life of a customer. This will help inform your business decisions.
Enlist the Support of Others
You cannot do this alone. Find people who will help you. Businesses are made up of a massive range of individuals. So, do not be afraid to bounce ideas off a friend or anyone who you value the opinion of. Your network is larger than you probably think it is. While sifting through your network you might stumble upon a great co-founder too that can make up for some of your knowledge and skill gaps.
To summarize, starting a business, while popular is a massive undertaking. You have to be always ready to react to the changes in the market, constantly striving for growth so you can keep up with changing consumer preferences. Do not be afraid to network with anyone and everyone, share your ideas and your passion and you might be able to inspire others to join your cause.