The Business Startup Guide To Become An Entrepreneur

By Tigers Publication

Are You Ready To Start Become an Entrepreneur?

If So, Let's Do That Together, Step by Step!

The Complete Business Startup Guide For Anyone Wanting to Become an Entrepreneur & Start Their Business Startup From Scratch. Finding Great Business Ideas & Setting Up a Business Can Be Hard. Therefore We're Going to Take You All The W

• Language: English
• Publisher: Tigers Publication
• Release date: Dec 16, 2023
• ISBN: 9798869068866

Book preview

Zero to Start the Roadmap

You can apply the procedures and principles you are about to learn to start-ups in a wide range of industries. These actions and ideas when combined provide a roadmap for determining the best course of action from point A to point B—from the outset of the startup process to a sustainable launch. And since our goal is to move from point A to point B, let's begin by addressing the most straightforward and fundamental query that can be thought of. Specifically, what is point A? I respectfully disagree with those who claim that every new business starts with an idea. It all starts with a choice. Like all journey, the start-up journey starts with the decision to get started.

You are at point A, which has the ability to change your life, after you have determined that you want to launch your own company for any reason. At point A, you might have a precise idea for a product and a company, or you might not have any idea at all. Again, we'll see how to advance past the things that can stop us. I say potentially because a significant issue, for many of us, is just to go farther than point A. In actuality, it is irrelevant. You are the greatest asset you have to start with. Among your strengths are your areas of expertise.

Your hobbies and areas of passion. Your ability to generate revenue—the things you can do to get money. Your goals—the things you hope to achieve in life. You'll be able to come up with a business idea that you like developing if you are clear about who you are and consider the demands and possibilities that the market offers. Additionally, it will give your company a head start on the road to success. Secondly, you will need to assemble a team unless you intend to operate as a one-person operation.

Typically, a start-up team comprises of one or two co-founders, yourself, and your mentor. You've already put in a considerable amount of effort on your start-up by the time your team is put together, and now the real job will begin. However, you have not yet reached point B, or the launch point. Not even after you've established and integrated a website. Not even if you're making some early sales and communicating with customers, which you should be doing by now. When your company is ready to take off like a rocket from a launch pad—capable of gaining and maintaining momentum, precisely directed and targeted with all systems go—you will genuinely reach point B, launch.

Iteration is the method by which one gets there. Aspects of the business will be tested and retested until the main unknowns—i.e., those you don't know or are unsure of—are transformed into knowns. The following are the essential details that you must be fully aware of. When you first start out, you might know some of these and not know others: target segment: Who would be interested in purchasing your good or service? Reach: How do you make contact with members of your intended audience? Problem: What need or issue do they have that you plan to solve? Solution: How would you address this issue? Methodology: What is your strategy for turning your target market into paying clients? Price/Cost: How much will your consumer pay, and how much will it cost you to provide the solution? You'll know you're on the right track when all the criteria are established and you have the mechanisms in place to deliver the solution to clients at a profit! After point B, there will be numerous more course revisions and adjustments, so it will be a long ride.

But you will be prepared if you use a good roadmap to go to point B. Let's examine a single person's route from point A to point B. 

The Story of SP 

'Entrepreneurship is risky partly because so few of the so-called entrepreneurs know what they are doing,' noted noted business expert Peter Drucker in the 1980s, attempting to advocate for a more prudent course of action. Regretfully, his statements still ring true today. Going too far down the wrong road straight out of the gate is a common mistake made by those who proceed past point A. Their excitement prevents them from doing enough reality testing until after they have wasted a significant amount of time and money or have simply failed miserably.

Fortunately, my friend Swadeep Pillarisetti (who I will refer to as SP from now on) chose not to go that way. He lacked the funds for it. Due to unforeseen circumstances, SP had to start making money soon. After losing his job, he took one that barely covered half of his family's monthly needs. To make things worse, he was let go from that one as well. That proved to be the breaking point for the camel. ..In this instance, the camel refers to his deeply ingrained conviction that he must toil away his life serving others.

SP made the decision to go it alone. In an attempt to supplement his income, he had joined a network marketing company, but he hadn't paid it any attention as he had been employed full-time up until his termination. In a network marketing business, sales representatives are paid for both their own sales and the sales of the other salespeople they refer to the organization. This is a direct selling technique. The term down line refers to this newly recruited sales force for the participant.

It would take way too long to grow that side gig to the point where he was managing it and making a good living. And thus a pretty desperate quest for alternatives started. First of all, SP did have certain abilities that were hardly used in the position he had recently lost. He was an accomplished mathematician with a degree from a prestigious university. He adored teaching as well.

Furthermore, SP had the good judgment to identify mentors—individuals in his life to whom he could confide for guidance. He was advised to visit a website that connected him to parents of youngsters in need of math tutoring by one of his mentors. In a matter of days, he was earning real money while instructing two students. It was okay that the website operators were taking a good chunk of his pay as their cut. A beautiful thing had just occurred.

By discovering that some pupils in his community had parents who were prepared to pay a high hourly rate for math tutoring, he had established a market niche. And he'd acknowledged that he enjoyed instructing math. Even better, he and his teaching strategies were well-liked by the pupils. Then SP realized, Aha! Moment: Rather of paying the middlemen, perhaps I can locate the pupils on my own and keep the entire sum. Why not attempt several approaches to reach those students and their parents? He launched a massive advertising effort using some of his newfound money, utilizing Craigslist, newspapers, videos, the Internet, and word-of-mouth. He began receiving an increasing number of students directly.

SP received firsthand feedback on who needed assistance with what as he was teaching. He continued to hone his offerings, creating specialized one-on-one classes in subjects like calculus and ACT Math. He was learning how to price his tuition and developing a far more targeted understanding of his target segments. He achieved a six-figure annual salary in less than a year while working at a job he loved, with room to grow in the future! Let's review SP's implementation of the Zero to Launch roadmap. He recognized early on his own advantages.

His strengths were arithmetic and teaching, his passion was producing money (which in this case was just the above two coming together), and his purpose was to urgently earn enough money to sustain his family. Some people possessing the same Strength, Passion, and Money-Making Ability might return to college to obtain a teaching credential before seeking employment as math teachers at educational institutions. That slower and