The increase in the count of entrepreneurs is fascinating. Many people according to researchers venture into entrepreneurship because it is more fulfilling and liberating than that of an 8-hours office job. It offers you the luxury of time to stay at home, bond with family members during special events, and most of all, work at your own pace.
If your mindset and skill are more entrepreneurial, then you may start switching your career now. But, before you totally let go of the long-drive hassle, annoying office mates, and demanding bosses, consider the following first before you step out into a new world and start the hustle in the entrepreneurial industry.
Know the trend
As a newbie in the entrepreneurial world, you need to have a bigger picture of what your new world has to offer for you. You need to know the trend in the new industry that you are in, the type of people you are meeting, and the possible clients and services that you may be offering to them.
Start by researching good business ideas that you can build with a little capital on hand or even for free. If researching may take too much of your time, here is a short list of little businesses that you may venture into.
Have you been buying too many clothes for your OOTD lately? Is your closet about to collapse due to many stacked and compiled old outfits? Why not use them as a startup opportunity for business?
Here’s the cue: take out all of the unnecessary stuff from your closet, grab your phone, take photos of your stuff, make a page, post it online and you’ll instantly have an online shop. Don’t forget to tag it as pre-loved and sell it at a lower price.
Putting up a cozy coffee shop
For young entrepreneurs, putting up a coffee shop is a trend. For most, this may suit your budget. If you are not planning to buy a franchise or an old one but still operating a coffee shop, then you can start a little of your own.
You just make sure that you select a good location, have some cozy ambiance in the area, sell quality but cheaper-priced coffee, and have alluring promos for your first few customers. Coffee shops can be a profitable start for your bigger plans.
Copywriting and editing services
Copywriting and editing are two booming services in the online world. You don’t necessarily have a bachelor’s degree to accept orders for copywriting and editing. You simply need to have a good vocabulary and good command in writing together with a fully functioning computer, good internet connection and you can start.
Just make sure to register and post your work on some freelance sites like Upwork and other related sites.
With social media advertising, the need for well-crafted cozy things and materials is increasing. Young entrepreneurs with gifts in artistry and design venture into crafty services. With just a minimum spend for your craft materials and a good location, you can start building your little crafty business without sweat.
There are lots of opportunities beyond the four corners of your office. You just need to do simple research and lots of business reviews. Surely, you can create a business idea that suits your budget, lifestyle, and skills.
Know the market
One of the rules in the business industry is to know your market. Your business must be designed according to their style, preferences, and their needs. It must be crafted according to your clients in order to provide the good service that they opt to have. Knowing your market creates bigger possibilities of selling out.
Social media users
When doing business through social media, its users are your first customers. Check out new trends in clothing if you are into clothing. Consider the food trend if you are advertising your restaurant on social media. Know what they like and conform with what is posh and trendy.
If you are into copywriting, editing, and online research providing services, know what are the likely topics of the students in the academe. Find out what topics students may select as their research and prepare for it. Also, never miss out to widen your readings and enhance your writing skills and build more of your vocabulary. It helps a lot.
On the other hand, if you are into crafts, coffee shops, and online shops, this group prefers lower prices with cute designs and Instagram places and stuff.
Parents/ household members
If you are into crafty services and online advertisements of your shop, make sure to know the preferences of the parents or household members. Often, parents prefer crafts that are easy to put on and some prefer those that they can use with their kids along the decoration process.
Also, in the clothing business, parents (as influenced by the media) would likely prefer matching OOTDs. Stuff for kids may also sell out as well as food delivery and other services that they may avail online without going out.
Workers would usually prefer coffee shops or restaurants that are cozy and cheap. This allows them to relax and feel the reward of their hard days of work. It is their free time to chit-chat with friends or significant others while enjoying the sip of your products.
When it comes to online shops and craft materials, they may prefer casual clothing with a touch of a professional and classy look. It must be anything that they can wear at work and to other places such as parties or dinner after office hours. They may also prefer classy crafts with neutral colors. Lastly, this stuff must be at a reasonable price because most of the workers are practical in terms of monetary aspect.
Leaving a stable job to venture into a small business doesn’t guarantee success. However, if you will look at the trend among successful entrepreneurs, everything was a gamble. Businesses don’t usually offer you riches at a fresh start. But, knowing the trend and the market might make it work.
When you plan to take the role of being a young entrepreneur, be ready to fail but believe that you will succeed a hundredfold. In the instance that you fail, always remember this line from the famous movie, “the great thing about being in the bottom is because there is no other way to go, but to go up!”. So go into adventure and explore your opportunities.
YOU CAN DO IT, YOUNG ENTREPRENEUR!