BEFORE You Start Your New Business: Things To Consider
More and more people are finding themselves either needing to find new ways to make money. Perhaps due to economic and/or work changes they're experiencing due to the pandemic or simply because they want to pick up a new side gig or maybe an entirely new career.
After all, change is rampant right now. Many folks who were happy with the ways things have been, may be facing these changes and pondering the idea of starting their own business. If you can relate to any of this, first of all let me wish you the very best of success in whatever you choose. How exciting!
It's always wise to stop before delving into life-changing decision and take a look at the reality of what you're planning. If you're considering starting a new business, even as a side hustle, here's a few tips from a customer experience expert, Marc Gordon. You may have seen him in the media, as he speaks regularly on these subjects at conferences and events. Marcgordon.ca is a great place to learn more about his work.
So what does he suggest?
Ask yourself a few questions as you're getting started about the important decisions you'll need to make, such as:
What type of product or service will you offer?
Is it something you can do from home or will you need to rent a location?
Do you know how to market on a budget?
How will you manage the daily activities necessary within your current schedule?
Gordon assures it's not imperative to know the answers immediately. The point is to get us to thinking about them. The questions always lead to better questions, first.
He also offers some wisdom about the questions above, thankfully. Like, when it comes to the product or service you'll offer, is it something you already are passionate about? Is it a service you're already good at? Although you don't have to LOVE it, it will make your transition much easier if it's something at which you already excel.
Also, make sure whatever you'd offer solves a real problem in an already somewhat saturated market. Will it help folks save money or be happier? Will it teach them something new? Figuring out what problem your biz will solve is hugely helpful.
Obviously many of us having gotten used to working from home more often, so the answer to this question may be simpler than it was before. If you can set up your new project from home and save yourself a commute, well, that saves you time and money already. Most services can be run from your home anyway, thanks to the interwebz. ;)
You can set up an alternative location with your client if it's something like massage therapy or house painting, etc. If it's a product you're offering, well there's already online platforms to help you with that--whether it's a video series or even something you create.
Thankfully marketing is something my colleagues here at Townsquare will happily help you explore--both broadcast media and digital opportunities are vast and can be quite affordable. Send me an email at firstname.lastname@example.org and I'll chat with you and get you in touch with a consultant. They can help you navigate the new marketing world, including social media and web presence.
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