Are you looking to start your own business?

You had a great career, it was wonderful but now, you want to start a business.

The truth is, we all want too but most of us have no idea where to start…well start here:

1. Assess what you like & what interests you.

First, do what you enjoy, do what you love and do something that inspires you. For how ever long you’ve worked, maybe you loved your work, maybe you hated it but, regardless this next step is for you & your ambitions. Think about who you want to help, focus on who can benefit from your talents.  When you answer these questions you’ll know who will be your customer, client or visitor.

2. Research the market for the future.

Find out where the market is headed for the next decade. Ask yourself: Is the market growing? Does it show promise? Does it offer a segment that will be competitive? (You want competition because that means it’s a viable niche) Also, does it offer a group where if you get 1% of the population as your customer, you can be profitable?  These questions are great places to start when you’re focused on starting a business.

3. Network: Meet people in the industry to get a feel for it.

This is the fun. You get to meet new people, learn new things & find out exactly what type of people are in your future industry. These will be competitors, collaborators, potential partners & possible employees. These connections will give you guidance when you have questions about why & how things are done.

4. Update your skills, education & experience.

Finally once you’ve decided what’s next, it’s time to get all the qualifications. There is a minimum amount of education you need for pretty much everything these days. It’s best to establish the knowledge first, then move forward as you build a business.

These are a few things to consider as your thinking about building a new business for yourself.  If you are interested in more resources as a new entrepreneur check out 20 Questions to Ask Yourself Before Starting a Business

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