Plans are only good intentions unless they immediately degenerate into hard work.
No matter how great and outstanding your plan is, it is not going to be worth anything if you don’t execute it on time. How do you know an idea is even marketable unless you bring it out there in the first place?
Reinvent the way you make a living Part-2
You haveto pull the trigger on your plan, and it’s better done sooner than later.
There’s nothing wrong with planning, but you can spend a lifetime making a plan that never turns into action. In the battle between planning and action, action wins. As you are well aware, creating a business is about actively providing value for others, and value relates to helping people and fulfilling emotional needs. It goes without saying that you can not help people by only planning to help them.
It is only through action you’ll be able to discover what people truly want, and gear your idea towards fulfilling their needs. You don’t need to make excessive analysis and create a complex plan. Once you’re sure you want to start a microbusiness, get started quickly and see what happens. wins. Here’s how to go about it.
1. Select a marketable idea and determine who your customer is.
A marketable idea doesn’t have to be a huge, exceptional idea; it just has to provide a solution to a problem or be useful enough that other people are ready to pay for it. When selecting your idea, endeavor to focus on usefulness instead of innovation.
Don’t think only about innovation. Search for innovation usefulness.
2. Keep costs low as much as you can.
Most micro businesses cost less than ₹5000 to set up; most of the time, all you need is a website, Wi-Fi connection, and one or two pieces of simple equipment. The vast majority of the “solopreneurs”
For instance, an Indian entrepreneur Trishneet Arora started his career with only a computer and an Internet connection and now he is a millionare and now his company’s networth is more than ₹2000 crores. Another one, P C Mustafa, who runs a successful Idli Dosa Batter company, started from a small kitchen and now his company’s annual revenue is more than ₹100 crore(1Billion).
3. Get the first sale as soon as possible.
The first time you make a sale in a new business, no matter the amount, it’s a very big deal. That initial feedback is very potent, as it gives you cues on what actions you need to take next. After an initial success, you will be able to reorganize your thoughts and decide what needs to be done next.
So, when you’re starting out, the question you need to ask is this: How can I get my first sale? Forget about competition from other businessesfornow; the greatest problem you face at this stage is the reluctance to start.
4. Make sure you market your product before manufacturing.
It is wise to be sure if people want what you have to offer before you put a lot of work into making it. One way to go about this is through surveys, but if you’re adventurous, you can also just put something out there, see what the response is, and then figure out how to make it.
Make sure there is enough demand for your product or service before spending your whole life working on it.
That’s why it’s so important to get started as quickly as possible and why the first sale can be so empowering.
Conclusively, in a microbusiness built on low costs and quick action, you don’t need to do a lot of formal planning. Mostly, all you need is a product or service, a group of customers, and a way to get paid.
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