Are You Playing Russian Roulette?

You know that you have a service or product that can sell. You feel that the market is out there, you just have to set up a business and all will work out great. This may be true for a small number of entrepreneurs, but you are playing Russian roulette. Diligence is the key when it comes to setting up your new business.

Diligence is a must for any new business prior to start-up to be successful. There are areas with any new business, or even new business idea that must be addressed prior to start up. With diligence in the beginning, you, the entrepreneur, will have a foot up to success. Knowledge is power and this will give you a head start on what you will need to put you at the top of your game.

Following is a sample list of some of the areas that should be addressed in the prior to starting your new endeavor into the world of business. It is wonderful to want to be an entrepreneur, but it can be disastrous if diligence isn’t used prior to starting-up your new company.

Sample List of Areas to Assess Prior to Start-up:

  • Is there a need for your service or product?
  • Who is your target clients or customers?
  • Who is your competition and what do they offer to customers?
  • Can you offer something to give you an edge?
  • Where is the geographical area that would most benefit your business, and is it affordable?

You may have an awesome product or service but if it is not something that is needed or only has a limited need in your geographical area it can be a problem. By being diligent in this parts of your research you may be able to overcome the downside to this problem by being creative in your marketing or finding other means of getting your product or service to the necessary target group to grow your business.

Identifying your target clients or customers is another part of being diligent prior to becoming an entrepreneur. If there is no customer base or only a limited number for what you offer, then you may have to take another route to be successful. This gives you an opportunity to explore what is most need in your area of expertise. It lets you know just what your potential customers are looking for with your business.

When you, the entrepreneur, know who your competition is and what they are offering, it gives you a foot up to success. You will want to think about what you can offer to your customers that is unique. It should be something that relates to your business and has value for the consumer. It doesn’t have to be expensive but it does have to be useful and unique to your business.

A large part of becoming a successful entrepreneur is being in the right place at the right time. For example, if you are a hardware store you wouldn’t want it located in the middle of clothing boutiques and souvenir shops. For one customers looking for hammers aren’t interested in what is the latest clothing design and if they live in the area they will not need or want souvenirs.  This is unless you have something that caters to their needs and wants. Look for areas that people shop and would be looking for items that can be purchased from your store. Some areas may be perfect for your new but is not affordable. Diligence in finding the right spot is a must to success.

As an entrepreneur being diligent in your research of key aspects to your new business is a large part of helping you to be successful. It gives you an understanding of the needs for your services or products in your specific area. The key to success with a start-up business is knowing what you may be up against. Diligence and understanding how to handle different aspects may be difficult, but there is help available to guide and instruct you on your path to success such as a business coach.

For more information on how to get your business running the way it should be, click here.

With thirty-five plus years’ experience in writing multiple types of genera from the technical, educational, social media, press releases, to creative writing and in between has given me a chance to express myself in others in what is important to them. Most of the material is ghostwritten. I have written and published articles for such companies as Posse Social Media. Included in my experience is several ghostwritten books created or edited for publications including e-books, biographies, manuscripts for novels, manuals for companies from administration to the technical aspects. Research is a high priority for anything that I write for clients. It is important to me to give 110% all projects that I agree to do. This in turn produces the best results and clients feel comfortable with the work that I do. I believe in what I write or in general will not write where it does not follow ethical standards for writers. One of my beliefs is to be open to comments and constructive criticism aimed at helping me to produce what is required for any specific job. I feel strongly that there is always something to learn and that can come from a lot of different sources. It is important to keep the mind open to changes and different possibilities as a writer. Educational experience includes but not limited to a degree in Nursing, Business Administration. Minors included the arts, creative writing and sciences. I continually seek further education and experiences to enhance knowledge base to increase positive outcomes in the social media arena and offer clients well rounded articles, books, technical materials to enhance business outcomes. Having worked with many companies to assist in designing their infrastructures to include policies, procedures, marketing and more has helped to round out my career.