There’s a new economy that nobody ever expected would take off, and that’s the democratization of the small business. Thanks to improved business models, digital services, and lean processes, the ability to make a small business has been taken from those in the privileged class and brought to the masses. But the question is, what’s the first thing one should do? What are the first steps to take that can catapult you from the situation you’re in, to the situation you want to be in? Well, along with the democratization of small business came the diffusion of ideas as well. There’s no secret under the sun when it comes to business. There are no new tricks. There are no new schemes. Just different products and new demographics. Here, we’ll explore how to set up a simple business to get your company off the ground.
Have A Product
The first thing you need is a product or service to sell. Without that, you’ve literally gotten no business. Your product is the main driver for money in, so you can manage your money going out. That is cash flow. There has to be a reason for said cash flow and continuing sales. When it comes to a product to sell, the general rule is to, at first, stick with what you know. Take a look at Mark Bell, Founder, and CEO of SlingShot. It’s a tool to help people bench press more by giving an elastic boost at the bottom of the movement. He was a powerlifter for over 20 years. He probably wouldn’t have gone into selling medical equipment. The point is to be the expert in whatever you’re selling.
Find Your Platform
Now you need a platform. A platform is where your marketing and social media fun comes into play. You have to find an avenue to sell to the people that you know would most likely buy your product. But be specific. You may think that selling to everyone gives you an edge by having a larger demographic. But in actuality, that’s just going to spiral you into obscurity. Each targeted demographic has millions of people willing to spend. Find that platform in which your specific market will most likely see the product.
The third part of this small business setup ( (both from a legal registration and company infrastructure standpoint) is to facilitate a money exchange. Programs like Paypal and other e-commerce solutions plans fall into this category. You need the means to accept payment and keep a count of everyone that’s given you money. It doesn’t have to be complicated. In fact, complicated is not great at this stage. Keep it as simple as possible.
A Means To Follow Through
Your last piece of the puzzle is shipping. You can use your local mail service, or ship using big names lie FedEx or UPS Either way, your last piece of the puzzle is your ability to send the product. If you’re a service company, you’ll need a means for your customers to avail of your services. If you’re a plumber, get a van. If you sell T-shirts, get familiar with postage.
In the end, business is all about facilitating an exchange to a customer base that’s looking for that exchange. That’s all it is. You’re not going to sell someone on something that they don’t want. That never works. You just have to be there at the right time, with the right product, and the right price. Good luck!