Turning Your Serenity Into A Business

Determination, motivation and know-how.

You use it to tackle everyday tasks and challenges, often to problem-solve in someone else’s workplace. How about applying your best qualities and creating your own workplace?

As the economy is starting to heal, the time is ripe once again for entrepreneurs with the dedication needed to run a small business. Many niches in several industries offer an opportunity for the small business owner to take part of the market.

Identify Your Business Opportunity

We all have a passion for something. Everyone has a skill or two that they perform better than most. Taking a little time to soul-search and decide where your interests lie is the key to choosing what type of business you would be successful at.

Are you savvy with computers? Start a website on a topic you know a lot about. Market the heck out of it through search engine optimization and let related companies place pay-per-click ads on your site.

Have that one skill or service that’s better than most? Get into consulting, and teach people how to do what it is you do, or be willing to do it for them. Network, network, network.

Good at graphics? Layout? Writing? Many companies outsource their projects to freelancers. A bang-up portfolio, word-of-mouth and a couple of pro-bono assignments to start out with are the key.

Are you personable and persuasive? Find that people love to be around you? Sales may just be your thing. There are many industries that offer franchise opportunities, like Avon and Mary Kay. It’s a chance to be your own boss.

Know The Market

Once you do decide what business to start, the next step is research. Lots of it. You need to know whether you are entering a dying industry or an emerging field. Take notes on how much your future industry made in the last five to ten years. Are there any trends in those numbers? What do financial experts and industry leaders say about that? The Wall Street Journal is a fantastic resource for this, both online and archived at your local library.

Know your competition. See what they do and why it works for them. See what they are NOT doing, and see if it will work for you. Find their gaps and weak points. Use them to identify your own.

Starting a small business is not the high road to getting rich quick. It does take fierce determination, pride in your work and the stamina to be your own bandleader for long haul ahead. Next time, we’ll discuss what start-up items, capital and licensure is needed before you go out on your own.