When I tell people I’ve launched my own children’s clothing brand, so many of them reply with how they’d love to start their own business. I’m no expert but I always encourage someone to follow their dreams!
You might get that little thought in your head that makes you think you’ve got something interesting and unique to bring to the business world. But turning that thought into a reality might seem like a lot of work. What goes into going from a desire to start your own business, to actually opening and operating it? FSB provides this short guide on how you can best turn your business idea into a reality.
What’s your passion?
Think about the kind of things that you’re passionate about doing in your spare time. Or dwell a little on how good you are at your current job. For me, I did a bit of everything in my previous design job. From designing, to spreadsheets. Sending mailers to photography. I did it all. So why not do it all, but for my own brand.
There’s a really good chance that you’ve already got a handful of skills and interests that’ll lend themselves brilliantly to starting your own business. Have a think and make a list of not only what you’re good at, but what you enjoy doing.
For example, maybe you’ve got a creative streak in you and you like to write in your spare time. Consider going into freelance work where you write for your own clients. Or use your skills to improve and edit other people’s writing. You could do what I did and start a blog! That way it’s your own space to write what you like, and give you a space to practice.
Maybe you’ve got a bit of a sweet tooth and you love baking cakes and desserts? If so, you’ve got a great starting point to base your potential business around. Try baking for friends and family, and maybe even your local community.
Whatever it is you end up forming a business around, you should always remember that you made the choice to do so for a reason. You know what you love doing, you know what you’re best at, and you know you can bring something unique and interesting to the table.
Keeping it simple
Turning a passion into a business doesn’t need to be a difficult and unnerving process. You might not even have to leave the house to operate a successful business. What you’ll need to do depends mostly on the kind of business you want to run.
For example, a copywriter wouldn’t need much more than consistent access to a PC, meaning you can get straight to work right away.
Other kinds of businesses might need to build up a little stock first before beginning to sell their services and products. For example, you want to make sure you’ll have enough ingredients and kitchen tools in store for a baking business. Similarly, you’ll want to make sure you have enough working space available, alongside enough stock, if you’re operating something like a home arts and crafts business.
I am lucky to have a cellar in my house and this is where I hold my stock and pack my orders. As I buy my product in bulk, having enough storage space was vital. If we didn’t have a cellar I would have to consider other options which may not be viable.
What happens going forward?
In the early days of your business, it might feel like things are progressing a bit slowly for your liking. Trust me I know! But that’s just the start. As word spreads about your brilliant new business and how good your services and products are, more customers will start coming your way.
Think about starting social media accounts for your brand early on. It’ll help you build up a following and raise awareness of your business. As your business gets bigger and bigger, though, you might be fortunate enough to think about expansion, meaning you can keep scaling up as you become more popular.
Even at the beginning of your business, try and put together some business projections. Keep in mind when you might look at moving to your own unique premise, or taking on additional staff to keep up with demand.
I’m very lucky to have a supportive father in law who has his own business. He’s always there to advise me and help me run my business professionally. He’s constantly telling me to keep records of all my accounts as you never know when you’ll need them. One day I could be looking at taking out a business loan to grow my brand.
Starting a business is no small task, but the rewards of doing so are there for the taking. Things might change months or years down the line, and you’ll be far bigger than you ever expected you would become. Hard work from the start, and a little patience, will help you turn a simple idea into a successful business.
Although growing my business is slow, it’s showing potential and the support I get form my customers is overwhelming.
I’m so proud of what I’ve achieved. If for any reason it doesn’t grow like I want it to, at least I can regret trying, than regret not trying.
* Collaborative post