Starting a new business can be a daunting task, especially if you're an employee with limited time and resources. However, with careful planning and a bit of hard work, it is possible to start a business that begins making money within 90 days. Here are some tips to get you started: 1. Identify a viable business idea: This is the most overlooked step for new business owners and unfortunately, the biggest reason most entrepreneurs lose a lot of money and have a nasty experience when starting out in business is that they never bothered to research on the market, the customer niche, the product or the solution.
The first step to starting a successful business is to identify a product or service that people want or need. This could be a product that solves a problem, fulfills a desire, or offers something unique. You can do market research by talking to potential customers and asking for their feedback on your idea.
2. Create a business plan: We all know what a business plan is: that document that outlines your goals, target market, marketing and sales strategies, and financial projections. If you do not have a business plan, you are planning to fail. A business plan can help you stay focused and on track as you start your business. But most importantly, it will help to hold you accountable to realistic financial targets for the year. 3. Build a website: A website is essential for any business, as it allows you to reach a wider audience and showcase your products or services. You can create a website using a website builder or hire a web developer to create a custom site. The main thing is just to ensure you have a credible and professional 'place' your potential customers can go to to learn more about your services.
Remember: visibility = credibility = profitability.
4. Start marketing your business: Once you have a website, landing page, Linktree profile or a place where you can be found or accessed, you can begin marketing your business through social media, email marketing, and other online channels. Have a dedicated Whatsapp Business line where they can reach you and a Google page with all your e-material on display. Basically, make it easier for those looking for you. You can also reach out to potential customers through networking events and local advertising.
5. Focus on customer satisfaction: One of the keys to success in any business is happy customers. Some would even argue, they are the MOST important key to business success. Make sure you're meeting the needs and expectations of your customers by offering excellent products or services and responding to any questions or concerns they may have. Get their feedback before, during and after offering your products or services. Make adjustments to your business based on the popular feedback given by your ideal clients and use this to refine your business and make it stand out from the competition. By following these steps, you can start a new business that begins making money in 90 days. It may take some hard work and dedication, but with the right mindset and a solid plan, you can achieve success as an entrepreneur. But don't just read this article, get inspired and stop there.
Don't let 2023 be another year of missed business opportunities.
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About the Writer
Jan Okonji is an entrepreneur, speaker, coach, and Founder of the Pan-African accelerator BGS – Business Growth Solutions.
He is passionate about helping employees transition safely into entrepreneurship whilst turning their great ideas into profitable businesses and has helped entrepreneurs collectively grow their revenue to over $ 10 Million in the course of running BGS.