Where to start when wanting to start a business for beginners.
Starting a business can be an exciting yet intimidating adventure. You may find yourself thinking, “I want to start an online business but have no ideas” or “I want to start my own business but don’t know what to sell.”
Rest assured, you are not the only one thinking this way. When I first started my entrepreneurial journey, I had no idea how I wanted to do it too. This is why I decided to write this blog post for those of you who need help in navigating the initial steps of starting a business from scratch.
Every business is different, so it is crucial to find one that resonates with you and WORK FOR YOU. This way, you can sustain it in the long run.
This post is all about where you can start when wanting to start a business.
The SKEPT Exercise
To help you get started, we need to find your branding pillars using the SKEPT exercise. So, grab a piece of paper and a pen.
Draw one horizontal line and four vertical lines, making a grid with five columns. Label the headers S, K, E, P, T.
SKEPT stands for Skills, Knowledge, Experience, Passion, and Talents.
Let’s break these down:
- Skills: What you can already do and execute.
- Knowledge: The information you possess. You don’t necessarily need to know how to execute it, but you have a good understanding of it.
- Experience: Your work experience.
- Passion: What you are passionate about. Think about your hobbies and what you enjoy doing in your free time.
- Talents: What people around you say you are good at, even if you don’t think they are your talents. If people keep telling you you are good at something, it probably is a talent.
Step-by-Step Guide to the SKEPT Exercise
Step 1: List Everything
List down everything you can think of for each category. Don’t hold back—write down as many things as you can.
Step 2: Filter Your List
Go through every bullet point and cancel out the ones that are not relevant. For each bullet point, ask yourself these two questions:
- Can this help a lot of people?
- Can I make a lot of money from this?
If your answer is NO to both of these, cancel it out.
Step 3: Find Your Pillars
With the remaining bullet points, start to group them into 4 to 6 categories. These will be your branding pillars.
For example, my own pillars are:
- Business, Marketing, Analysis
- Arts, Creativity
- Positivity, Courage, Freedom
- Family, Pets
- Travel, Lifestyle
This is how SKEPT works—you choose one of your pillars to start your first business. Once that is self-sufficient, you choose another pillar and start your next business. This method enables you to build multiple income streams and businesses that work for you.
Your Branding Pillars
Remember, all our pillars will look different because of our unique backgrounds and experiences. Your branding pillars will also change over time as you learn and grow within your business.
Once you have chosen a pillar, it is time to carry out your business plan.
For more detailed guidance on creating a product menu and scaling your business, be sure to check out my free ebook, “5 secrets to growing a profitable online business”
How to Start a Business From Scratch
Now that you have identified your pillars, let’s move on to practical steps for starting your business:
- Market Research: Understand your market. Who are your competitors? What are the current trends? How can you position yourself uniquely?
- Business Plan: Outline your business model, target audience, marketing strategy, and financial plan.
- Branding: Develop your brand identity, including your business name, logo, and tagline.
- Online Presence: Create social media profiles to establish your online presence.
- Marketing Strategy: Plan how you will reach your audience and promote your business. This could include social media marketing, content marketing, email marketing, and paid advertising.
Overcoming Common Challenges
You might be thinking, “I want to start a business from home” or “I want to start a business but I’m not good at anything.” Here are a few tips to help you overcome these common challenges:
- Leverage Your Network: Use your personal and professional network to gain insights, advice, and potential business opportunities.
- Continuous Learning: Invest in yourself by learning new skills and gaining knowledge related to your business.
- Start Small: Begin with a small, manageable project. This will help you build confidence and gain practical experience.
- Seek Support: Join entrepreneurial communities or seek mentorship from experienced business owners.
Starting a business for beginners can seem overwhelming, but with the right approach and mindset, it is entirely achievable. By using the SKEPT exercise, you can identify your strengths and passions, and choose a business that aligns with them.
If you are still wondering, “How do I choose the right business to start?” or “Where do I start if I want to start a business?” remember that the most important step is to TAKE ACTION. Start with your first pillar, build a solid foundation, and gradually expand to other areas.
For a comprehensive blueprint on how to start and grow your business, don’t forget to download my free ebook.
This article introduces to beginners where to start when wanting to start a business.
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