In recent months, there has been an overwhelming trend of creators on social media full of hope and promise on starting up your very own side venture or business idea by the end of the week. Whilst I am all in favour of empowering personal growth, Their offers of a fast track training program to get the money quickly rolling in does make me question the longevity of some businesses set up on the back of this promise.
In my experience when it comes to setting up a business and working for yourself, there are no short cuts or get rich quick schemes and if there are then I have yet to find them. The resounding promises coming from every corner of social media are pretty unrealistic and I wonder how many people with so much potential give up soon after starting because they find that it isn’t quite as easy as promised so ultimately feel that they are doing something wrong.
If you want a business that will last the test of time, here’s my take on why there can be no substitute for hard work and creating a solid foundation to build upon.
Whether it’s a side hustle or your main gig setting up your own business is a marathon, not a sprint. In order to succeed you need to ignore all of the other contestants and keep your eye on the prize, forget what everyone else is doing, stay in your own lane and concentrate on you.
- To begin with, be clear on the type of service or product type that you want to offer and make sure its viable, just because a certain niche is currently trending it doesn’t mean that its the right niche for you.
- Try to base your business around something that you enjoy or have a good understanding of. You don’t have to be an expert because we all learn and develop new skills as we grow and become more confident but if you want to establish yourself as one of the go-to people in your industry then you have to have a good starting point to build upon.
- Know your audience. Market research is vital, by knowing your target audience you can put a marketing strategy together and direct it toward them in the right way. If you are offering products and services in fashion and beauty industry then there’s little point in advertising in auto-trader! I know it sounds extreme but work on that principle. Its important to make decisions based on your customers needs rather than your wants, Threads may be the trending platform for you but is it for them?
- Lastly and most importantly, Organisation and structure is key. If you start by throwing all of your ducks in the river without a plan you’ll most likely never get them back in order. It can be extremely overwhelming when setting up a new venture but by racing ahead and missing vital steps you will soon find yourself running out of steam, be sure to concentrate on the important factors first and to avoid making costly mistakes always remember the golden rule, Think twice, act once!