“Back to square one…”
This is a phrase I’m sure everyone has heard at least once in their lives, and it’s a dreadful phrase, having to go back to the beginning and start all over again. But don't worry - I’m here to help!
For businesses, there are just so many types of businesses you can start, ranging from selling jewelry and makeup to baby sitting and baking. But no matter what kind of business it may be, you need a starting point.
Welcome to Square One.
1. First things first - What do you want to do?
Decide whether you want to make and/or sell a product or provide some kind of service.
Products to help you brainstorm: jewelry, makeup, clothes, shoes, masks, food, phone cases, etc.
Services to help you brainstorm: baby sitting, dog sitting, cooking, baking, cleaning, running errands, etc.
Have you decided what you want to do yet?
If so, great! Let’s move onto the next question.
If not, keep thinking!
2. How much ‘competition’ do you predict?
In most cases, your business will not be the only line of business in that field to exist. So, you need to realistically think of the probable competition you’ll face.
Recently, there has been an increase of self-started businesses for lip gloss and false lashes after quarantine, and it may be harder to have an impactful reach for those businesses.
However, don’t let this deter you! If you are truly passionate about something, believe that you’ll be able to succeed.
But if you think that a particular product or service has been too overused, try going back to question one and come back with another idea!
3. Who is your target group of consumers?
Children? Teenagers? Young adults? Older adults?
This is an important question to ask yourself, and your answer will change a lot, especially in
terms of how you advertise your business.
(See: Know Your Audience)
4. Will you have a social media account?
The answer to this question should be a solid, definite YES.
We are in the 21st century, surrounded by technology and media, and you should be taking advantage of the latest trends and apps!
Two major apps for businesses include Instagram and TikTok, and you should think about making accounts for both of these platforms to help get your name out there.
For more information and tips on how to create the best business social media profile, keep an eye out for the next post, which will be all about business accounts!
Let’s escape Square One and Square Up!
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