In the UK, in the first quarter of 2012 just over 84,000
people set up their own businesses and are operating on a self-employed
basis. This means that for the first
time in the UK, there are 4.2 million people registered as self-employed. In London alone, there are 600,000 people
registered as self-employed out of a population of 7.75 million people.
Ranging from your gallant handyman to your studious
professional manager, there has been a resurgence of the concept of running
your own business. Whilst the typical
trades person business has still remained at 30% of those registered as
self-employed, the increase in more administration and professional roles has
increased immensely and are actually growing and employing more people.
What’s driving this growth? Well one thing is certain and
that’s the state of the economy. There are 2 camps. One camp says “there are no jobs out there”
and so they remain unemployed. Another
camp says, “Wow, there are some great opportunities created by the current
state of the economy and I’m going to take advantage of them”. Those with an Entrepreneurial
zeal therefore do the following:
1.
Look for a gap in the market – doesn’t have to
be a gaping gap
2.
Come up with solutions to the gap whilst
ensuring there is a demand for the service or product
3.
See where they can add real value by being
innovative or creative
4.
Stick to what they know and are qualified to do
– or can train and up-skill themselves
5.
See all opportunities as a sales opportunities
6.
Get help to make sure they can run it as a
business
7.
Get help to make sure they stand out from the
crowd
The two things that really drive small start up businesses forward is getting help to stand out from the
crowd and getting help to run it like a proper business. Not many people do that, so observe the
masses and do the opposite says Earl Nightingale. Don’t be shy
to pay for help – Business Advice.
As an Example, you may want to start a fashion line. The advice would be to do the following:
1.
Be clear on your mission
2.
Identify your target market and assess demand
3.
Come up with you clear range of designs
4.
Be clear on what your unique selling proposition
is
5.
Decide on if you want to sell to individuals
i.e. B2C or other businesses i.e. B2B
6.
Work on your pricing model
7.
Be clear on how you want to run the operation –
from suppliers to consumers
8.
Consider what your marketing strategy is going
to be. This will largely depend on your target market
9.
Put a marketing plan together. Do you want to do
exhibitions, have a shop front, do it all online, lifestyle and fashion
magazines, social media, etc.
10 Put a financial plan together showing how you
are going to fund the business.
In a stealth manner, you would have put together a clear
practical business plan for your fashion business without even knowing it. Get
help to do these things if you can’t do them yourself
With the right Information, Advice and Guidance support, you
can start your own business.
There is nothing wrong with starting your own business. Its not rocket science. You don't have to give up your full time job to start with - that's if you have one.
Remi Okeshola
MD – RBSS Consulting Ltd
Providing Real Business Solutions and Services
