Products or Services Development Tip 1

They say ideas are a dime a dozen but how do you get that idea that is bound to create a storm in the market place.  Understandably, you want to follow your passion and create a business you can run whilst also having some fun.  Let’s be honest if you follow your passion and your bills never get paid, it is a matter of time before you pack it in.  I am a firm believer of maximising passion to make a living but in the same light you have to ensure there is a demand for what you want to offer.

So what are the things you can do to check if your product or service idea is a viable one?  The following tips can help you develop an idea around your passion:

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What Group of People Engage and Interest You?

This thought might never have occurred to you, but we are all more comfortable with certain groups of people than others. Some love being around mothers, students, football enthusiasts, foodies, professionals, women, men or techy people.   The people you like to hang out with and things that interest you might be an indication of who you can be selling your products or services to.

Facebook Founder

Take for instance the story of Facebook founder Mark Elliot Zuckerberg.  He launched Facebook from his dormitory room. With the help of friends, he took Facebook to other campuses nationwide and soon after moved to Palo Alto, California. By 2007, Facebook had made him a billionaire at the age of 23. By 2010, Facebook had an estimated 500 million users worldwide and reached 1 billion in 2012.  Wikipedia 2013.

That is a simple indication of how the people you hang out with can become your target market.  So get those magnifying glass and look at them closely.

My Mini Story

There are many people with similar stories who built their businesses based on the needs of people around them.  Due to my analytical ability, my family and close friends used to approach me when they are contemplating a business decision – initially I wasn’t sure why.   After many years of writing business plans for free, it dawned on me that I can actually make a living doing this albeit in a professional way.  My first few customers were my family and friends and I am grateful for their trust in me.  Now that my company accommodates people from all walks of life, it is amazing to think that this was something that was always a part of me.

Taking the First Step

So if you want to start a business on a part time, full time or as an additional income to your current career – look closely at the people that interest you.   It could be your work colleagues, your jogging buddy or your lunchtime/church group.  Do not start looking at them on the basis of money but on the basis of meeting their needs.  It is easier to sell to people you know to start off and grow from there.  Study them and start jotting down in a notebook what you think they need that you can provide.

Till Next Time…Don’t Stop the Process of Your Business Start-up.  Keep Moving!

Temi

www.businessfirststeps.co.uk – personalised and practical business set-up and start-up services.

Persistence, Snowflakes and Starting a Business

I was fascinated as I watched the snow fall over the weekend.   I watched it fall way back from my window so I was unaware of the effect it had on the ground.  It was obvious that the snow was light – you know those flakes that you think will never settle.  I thought that the snow will probably clear out in a few hours so we can go out the next day.

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But how wrong was I! Due to the consistency of the snowflakes that kept on falling, it became quite obvious that it was going to be the traffic-stopping, school-closing kind of snow.  I was taken aback when I ventured out and surveyed what had happened. Alas, the whole place was covered in snow…it was breathtakingly beautiful and a snow fight with the kids was imminent.

My Business First Steps

You may wonder why I’m going on about the weather, isn’t this suppose to be a business blog. Well the snow reminded me of when I started out in business.   It was challenging to get any client initially and I was overjoyed if anyone even agreed to work with me for a small fee. Clients came in trickles, sometimes one or two in a few months interval.   I had to constantly remind myself that small steps lead to giant strides and I was learning a lot as I went along.  Today I can gladly say I now get a regular flow of clients every month.   It has taken hard work (even when I don’t feel like it) mixed with consistent and persistent actions to get this far and I am not even near where I want to be yet.

1411773_winter_landscape_with_trees_and_snow lewyzThe journey can be rough when you start out in business, but it doesn’t stay rough forever.   You develop new knowledge, skills and a better coping mechanism to deal with whatever comes your way.

But you will never grow if you do not start or if you keep starting and stopping every time you hit a roadblock.   

A few flakes of snow for a few minutes cannot make much difference, but a few flakes that continue to fall over time can have a snowball effect.

Find Your Starting Block

If you want your passion, idea, concept, community group or social enterprise to make a difference, you need to commit to being consistent and persistent.

Three very important steps to help you get over the first few hurdles of starting a business:

  1. Find your starting line – define your passion, aims and objective.
  2. Get on your marks – put things in place to prepare you for the journey and stay focused.
  3. Then GO!  Push forward in the right gear and with all that you’ve got and never look back. 

Starting and running your own passion-based business is a fulfilling and rewarding option. Whether you want to do it full-time or in addition to your current job or family life, you deserve the chance to give it a go.

I wish you good success.

Temi Koleowo.

Get in touch if you find the business start-up journey rather hazy.  I am passionate about helping people package their passion, ideas or concept into something fulfilling and enjoyable. www.businessfirststeps.co.uk – personalised and practical business start-up coaching, brainstorming, resources and support.

 

Is Honesty Still the Best Policy in Business?

I love the internet and the infinite possibilities it offers people like us who do business online.  But I also know there is a dark side to the internet world where the bad boys reside with their friends – malware, spam and others.  An innocent click can lead you down the wrong path, taking up your time and money to put things right.

As much as the internet is an infinite world where customers may never meet supplier, I think we need to remember the basic moral value called Honesty.  A lot of people are actually internet adverse because they have been burnt a few times. Who’s to blame them?  There will always be those businesses that use scrupulous means to get a few sales. I hope you will never be one of them.

Do you need quick sales? Are you going to join the bad boys or hold on to your integrity?

A lot of businesses online are in it for a quick buck. Customer relationships means nothing to them, if they sell to you once, they believe another naïve person is just a click away.

If you are starting out in business, do not build a business on promises you cannot deliver.  If you can only offer two of your services/product deliveries a month, start with that until you are able to manage your schedule better.  Do not book ten deliveries and end up disappointing nine.  It will be harder to win them back a second time around.

I believe it is better to have one customer over time with good referrals, rather than 100 customers who never come back.  That is what gives business longevity.  I delivered a seminar recently and promised to send the presentation notes to those that were interested. After I sent the notes out, I could not believe the responses. Most of them were just surprised that I delivered what I said I would since there was no exchange of money.

Consider this, even if you do not get to see your clients face to face, still maintain honesty in your dealings with them.  Deliver on your promises and if you can’t, communicate with them and let them know. They will appreciate you for it.

Being a small business is a challenge in the fast paced world of big businesses, franchises etc.  We can’t offer the huge discounts the major chain stores can, but we can offer added value products/services supported with excellent customer service.

You job is to ensure all your products and services have the honesty tag attached to them.

I wish you good success

Temi Koleowo.

Free Two Hours Parking

I know this might sound strange but I always dread parking in those free two-hour parking bays.  Some of them will state free two hours parking limit, no return within three hours.  I question if I return later than two hours whether I will be booked for my tardiness? Does anyone actually set the timer for cars parked in two-hour limit free parking bays?  I really will love to know the answer but not at the expense of a parking fine.

The parking sign got me thinking (as I do) about business start-up and development.  A lot of us park in these bays with the notion of just staying for two hours and we end up staying there for much longer than we anticipated.  Ok, we probably will not get a physical parking ticket for hanging out in our ‘comfort zone’ bay longer than we want.  But life does pay back to those that do take action and those that don’t – in the long-term.  The question is what payment will you prefer?

  • You may be in a job or career with five years’ time limit
  • Your business idea may still be on the ‘two year limit’ back burner
  • You may have even started a business but there is no noticeable growth to show for your efforts.
  • The number of your customers are still the same after so many years.
  • Products or services are still the same range.
  • Someone else has done something similar to that business idea you have been nursing for a while.

My question is “have you exceeded your parking limit” in your current bay.  What happened to the goals you set at the beginning of the year about the things you wanted to do with your idea or your business?

Have you moved from the parking bay, drove around for a while and ‘returned after three hours?

Ok so the first business idea or new product didn’t work out after putting in so much effort, time and resources. I understand the disappointment but please do not return to the same old bay.  Why don’t you explore other parking (business) opportunities instead, for all you know you might get a better spot with little or no restrictions.

I know what it’s like to be charged up momentarily, ready to face the world but feel dejected when challenges crop up forcing you to go back to your old bay.  It is so easy to get caught up with life and what it brings, but to succeed we just have to fight to achieve our goals or we will never get to the right destination.   No successful business owner will tell you that running a business is an easy feat.  To excel and go beyond the thought stage of your idea, business, products or services, we must push beyond the barriers.  We need to set realistic goals and achieve them through consistent and persistent actions.

Find a Better Parking Space

If you have been working on a new product or service for your business, how can you accelerate the process?  Do you need to set realistic goals and deadlines, get help or a mentor, get more resources or gain more knowledge?  Do you need to set time aside, reduce your workload so you can work on your business rather than in your business?

Are you a start-up?  Consider what you need to do to actualise your business idea.  Make a list of the things you need to change and start taking action to make headway with your idea.  What are your roadblocks? Identify the actions that are keeping you in that parking bay and work toward eliminating them.

Be uncomfortable in your ‘comfort zone’ and choose to make conscious efforts to grow – it offers great dividends and rewards in the long run.

Till next time

Temi Koleowo

Business First Steps – personalised and practical business start-up services

Photos courtesy of bigstockphoto and johnridley sxc.hu

Pushing Beyond The ‘If Onlys’

I have had a lot of ‘if only’ moments in my life.   Sometimes those moments stretch into days, then weeks, months and even years.  If only I went to a certain school or a certain college, lived in a certain neighbourhood, had a certain friend or mentor or whoever I needed to influence me to take certain steps in the ‘right direction’.

Then came a time when I had enough of my ‘if only’ moments.  I decided that I had to rid myself of the excuses of not stepping out to do what I wanted to do for so long.  Ok I can’t change the past but I can stop wallowing in self-pity and determine my future.   Even if I had done all those things on my ‘if only’ list, I still have to work hard to make a success of my own life. Who says anything good will come easy, even if we got certain things right from the start.

So in 2009 I decided to bury my ‘if onlys’ and start Business First Steps – doing what I love.  Since I started my business, the ‘if onlys’ are fading into insignificance because God is causing all things to work together for my good, even those things that I thought were accidental.  Yes, I was scared of the unknown when I started but I did it afraid anyway.  A few years down the line and I am still surging forward – sometimes afraid.  In those few years, I have fought some really tough mind battles – the battle to stay or to quit, to fight or to give in to defeat.  Undeniably it takes a lot of courage and other traits to start a business.  It takes even more courage and the ability to win the battles of the mind to keep on doing that business.  If you can stand up to fight and win those battles, then you are surely on the right track to Success Avenue.

So if you want to take a step in the right direction today and start your own business, do what I did in 2009.  Take a moment to consider some of the successful people out there doing what they love every day of their lives. Find out how they started, did they all have an easy start…I don’t think so.   Then think of the small steps you can take to start creating your own pathway to a future with very few ‘if onlys’ in it.

If only you can step out of your comfort zone and act on your plan TODAY, you probably will be writing your own successful start-up story pretty soon.

I really wish you good success.

Temi Koleowo.

Business First Steps… Personalised and Practical Business Start up Services and Support

Social Media Opportunities

Are you a stay-at-home mum or dad looking for something to do?

Are you in between jobs and looking for a new career path or new business?

Why don’t you join in and ride on the Social Media Wave?  There are so many opportunities out there that you can maximise and also make a living too.

Some of those opportunities include:

  • Graphic designer – creating Facebook banners and twitter backgrounds
  • Social Media profile setup
  • Social Media updates
  • Virtual Assistant
  • Editors
  • Copywriters
  • Social media management and more

Your first business step is to find out about your chosen area, there is limitless information online – eBooks, videos, how-to articles etc. Assess your skill set, find out what you can or can’t do.  If you commit to developing yourself in an area within the next few months, you could be getting paid for your own gigs very soon.

Go on, give it a go!!!

Till next time

Temi

www.Businessfirststeps.co.uk

Business Reality Check

Musing about my business tasks today and the following realities of starting and running a business came to mind.  Just what I need to remind myself of my role as a business owner.

The Time Factor

Everyday we are bombarded with the miracle cure for whatever business ailment we may have. Whether it is procrastination, low self-esteem, lack of skills or imagination.  There is something out there prescribed to help you get results in an instant. Starting and growing a business takes a lot of time and effort.  Stop buying into those lies about the next best thing for your business that could make you an instant £100,000 profit with absolutely no effort on your part.  I spent a fair amount of money on some miracle start-up remedies some years back, they got me nowhere. Now I know better – one has to dig deep foundations for a business, so that when it grows it will not topple over.  Shallow foundations and quick solutions do not provide lasting results.

However, there are some great products out there that compliment your efforts – those are the ones worth buying.  They not only help your business but also make the job of running your business a lot easier to manage.

It’s Your Job

You can hire a consultant, an accountant or even cajole your mum to help.  If you want your business to succeed, then you need to do a lot of things yourself.  Even if you eventually employ people, you cannot ignore or shy away from your role as the business owner.    Yes you can copy systems off the internet or go to numerous seminars and get all fired up, you still have to put what you learn to work.  Take ownership of your business idea and push it till it becomes your reality.

The Dark Side

As the main decision maker in your business (if you are not a partnership) you should be ready for the dark and lonely days.  The days when the weight of the business decisions will be on your shoulders alone. When people will look to you for answers and to make decisions that will benefit the business. Create the right atmosphere you will need for those dark days; surround yourself with people who can uplift and motivate you to keep moving forward.

Eat the Humble Pie

There is no doubt in my mind that when you start your business you will be humbled.  Not everyone will think you have a good idea and not everyone will think you are smart. Be ready for criticism, irate customers, competitors who will steal your ideas, oh! be ready for all sorts.  The important point to remember is not to lose the values you hold dear when you face your business struggles.

Commitment

You can’t make a success of any venture if you do not commit to it.  You get out of your business what you put into it.  If you want it to grow then you have to commit to developing your idea on a daily basis. There is no short cut to business growth, be innovative and prepared for opportunities.  Set goals for yourself and commit to achieving them within a given time frame. The more you do this, the better you become and the more tasks you mark off your to-do-list. When you look back in a few years time, you will be amazed how far you have come.

Till next time, I wish you good success

Temi Koleowo.

Get the eBook: Bring your Business Idea to life and start the business of your dreams.

Photo courtesy of Bigstockphoto.