Do you wake up every morning looking for ways to escape the rat race and start your own business? Is this just a dream or would you like it to be reality? What are the steps to start your own business? In this amazing digital age we are fortunate enough to be part of there has never been a better time to start your own business. With more and more people shopping online even people with little or no experience the possibilities are unreal for almost any like-minded individual. With technology like AI (artificial intelligence) with the intelligent use of ChatGPT moving forward at an alarming rate the doors of opportunity are wide open.
However whilst the dream is invigorating let’s not get carried away from the fact that you are starting a business. What I would like to share with you in this post is not only to answer the question of what are the steps to start your own business but also to unravel and dig deep into the pros and cons. I am also would like to outline and share why so many businesses fail in the first three years so you can avoid the mistakes and succeed where others have failed.
Why is a Website Important For a Small Business Owner?
Starting a business is an exciting journey to undertake but there are important steps that are essential in order to succeed. The primary strategy is to be in control of a professional secure website. Why? In order to move forward your goal is to create a brand and an online identity that people can trust.
However, that does bring up the first challenge that you must overcome in order to move forward. Creating a professional secure website is much easier than one might think. You don’t need any technical skills for example HTML or Java programming skills if you can copy and paste and click a mouse you can have a WordPress website online in less than five minutes.
The first mistake that most budding entrepreneurs make is to hire a website designer to create it for them. Why? The cost involved can vary from £500/£5,000 or dollars whatever the case may be. It very much depends on how many pages or posts you would like on your website. However, that is not the end of the story Most WD charge as much as £50 or dollars per update of your website over time this can really dig a massive hole in your marketing budget. WordPress websites or any other websites need to be updated at regular intervals in order to get Google rankings
Idea Generation
If you already made your mind up about what your business plan is then you can skip this step. However, if you haven’t then the next step is to brainstorm business ideas. Start by asking yourself what you feel passionate about and what are your skillsets. It is always smart to look at market trends. A great place to start is Google Trends you could start with high-street shopping here What are people looking for? When people shop online they are looking for a solution to a problem and it’s your task to find a solution to their problems by providing a product or a service.
What is The Secret To Keyword Research?
For budding entrepreneurs, this is another huge mistake they grossly underestimate. I am pretty sure you must understand that when people search online for a product or a service they use keywords. For example, the keyword for this post is “What are the steps to starting your own business” so obviously this is a person like yourself who is interested in starting a business.
The secret is… You need to know how many people are searching for that particular keyword per month. How competitive it is? What are the possibilities of getting on the first page of Google? Keyword research is a very in-depth subject Unfortunately I am only able to touch the tip of the iceberg in this post but the good news is there is an awesome keyword tool that can cut your research time quite significantly check out here
There are endless choices of keyword tools some are free some are really expensive This is all part of the challenge of starting your own business do your due diligence and start your research for yourself. The only thing I can add to that is I have pretty much tried most of them over the years and I have found this the most user-friendly and effective.
If you have questions with regard to Keyword research please use the comment section below more than happy to help you out
How to Develop a Positive Mental Attitude
Now that you have arrived at the business you would like to explore there is a very important question you need to ask yourself that most budding entrepreneurs skip over. Imagine you are a millionaire and money is NOT an issue would you still want to start your own business? If the answer is no then you need to rethink your business choice.
Although potential financial rewards are important it should NOT be your main focus. Why? Starting a business is not without challenges you have to enjoy the journey If NOT then what is the point? Think for a moment… Do you think that Jeff Bozes thinks about money when he starts his day? Do you think that Mark Zuckerberg was focused on financial gain at the start of his business career?
My point is to study the most successful business people as your mentors. Invest in self-help books and spend half an hour a day reading about the most successful entrepreneurs. One of my favorite books is “The Chimp Paradox” by Steve Peters the mind management program for confidence, success. and happiness this is groundbreaking. How to stop overthinking the 7-step plan to control and eliminate negative thoughts both available on Amazon.
Self-Employed Advantages.
Speaking from my own experience I have always been self-employed which in my personal opinion the advantages far outweigh being employed. Having said that there are pros and cons as always.
The pros
- You are in complete control of your schedule and totally flexible.
- Unlimited income potential You have the opportunity to create multiple streams of income
- You have the opportunity to pursue your passion and create your dream lifestyle.
- Self-employed people pay less income tax you are able to claim business expenses etc. Which can add up to a significant amount of money.
- Job security You are the boss take holidays when it suits you not having to beg for time off.
The Cons
- There is always an element of risk involved in starting a business
- Working alone is not for everyone some people get lonely and miss their work colleagues.
- You are responsible for submitting your tax returns to the inland revenue each and every year.
- In most cases, you probably have to hire an accountant
Conclusion
Thank you for taking time out of your busy day to read this post and thank you for asking the question “What are the steps to starting your own business”.
I hope you found this content informative, and helpful. I am always looking for feedback questions or comments there is a comment section below where I am more than happy to help you out.
Although most people are going through tough times with inflation rising at record levels. People are even losing their jobs because of AI Sadly some people won’t survive. On the flip side of the coin, there will be others who can visualize the future of artificial intelligence and an exciting path to create a sustainable income in their own business. I hope you are one of them. These are people who are as fascinated by AI as I am and looking forward to a bright future.
Disclaimer
If you click on any of the links in this post as an affiliate I do make a small commission this is how I manage to stay ahead of the game and the cost of living crises. Affiliate marketing is another amazing opportunity that is moving forward at a rapid pace there are endless companies that have an affiliate program so that people can create a second income online. To find out more about how this can help you click here for further education
Are you ready to build an online business and take advantage of AI? Then Empower yourself with top-tier training, cutting-edge technology, AI tools, and a vibrant community to turn your online business dream into reality. Unlock your potential here today
Kindest Regards Alan 
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