Okay, not a professional marketer, but I am a marketing graduate. What I will say is that, if you’re starting a business, then I would base that business on a task that I’m already very talented at. This way, it’ll be easier selling to people because people will think that your product looks nice. Plus, chances are, you’re really talented at something because you’re passionate about it. Building a business on a hobby that you love and enjoy can help a heck of a lot with staying motivated because it won’t feel like busy work. For example,
-If you’re great at creating code for apps, then you could build a business on that.
-If you’re great at teaching people unique skills like dancing or yoga, then you could build a business on that. -If you’re great at creating dolls, then you could build a business on that.
-If you’re great at baking cookies, then I would build a business on that.
-If you’re great at drawing and painting, then you could build a business on that. So on and so forth. You get what I mean, I’m sure.
As far as trying to find a gap in the market, that’s a tough one. A lot of businesses are already meeting consumers’ needs. It’s often easier to create a business where there’s already competition because that means there’s a lot of money being made. You’ll need to figure out a target audience that you wanna sell to (their age, income level, etc). Then, you need to come up with a marketing plan that shows that target audience why your product/service is superior to what’s already available (healthier, cooler, faster, tastier, more fun, more environmentally sustainable, etc). To start with, you’ll probably want to come up with a test product/service to invest a little money in, so that you don’t break the bank on a product that nobody wants.
There’re endless marketing channels out there. Local events, social media, blog website, other websites, TV spots, etc. You just need to figure out how to get your business featured on them. The way you market your product and get consumers excited about it is arguably more important than the product itself. You don’t need to spend tons of money on marketing. You just need to find a way to market your business in a way that will appeal to your target audience.
If you don’t have much money for a marketing budget, then you’ll need to get creative. That’s where guerrilla marketing comes in: marketing your business in a unique way. Slapping a bunch of ads in a newspaper will just donate money to the newspaper. Devising inexpensive ways to market your business that’ll appeal to your target audience will go much farther, on the other hand.
And, of course, you need to work on your business everyday to help it grow. You might need some outside help with sales and marketing, product development, etc because, quite frankly, running a business can take up a lot of time. You must be committed to it all the time. You need to be a confident problem-solver who’ll overcome any challenge that you run into, such as getting customers, maintaining cash flow, etc.
I don’t blame you. The 8-5 life is soul-sucking. With that said, it’s generally safer to work for a company while you build your business. Of course, if you have enough savings to pay bills for at least 1 year (business success can take time, sometimes), then that’ll be alright, too. As long as you have a way to get you through the slow times as your business grows, that’s what matters. This is a long post, but it’s meant to discuss the kind of work that goes into launching and growing a business. It ain’t easy, but it’s absolutely possible to become a major success if you plan it well and put effort into it. Good luck!
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