1. Find an excellent business idea

This is the most fun part, which consists in proposing many different ideas to arrive at a concept that can be successful in the reference market

However, the development of ideas does not happen spontaneously. As Entrepreneur explains, it is a creative process that requires time and open-mindedness. The brain makes connections based on the information it receives, so we recommend that you talk to lots of people, visit new places, and observe what’s around you when you’re out and about.

When you get the idea for a start-up, write it down, even if it sounds silly. As many successful entrepreneurs say, good business ideas are often achieved after discarding many bad ones.

After developing a series of ideas for startup activities, start doing research and developing them, testing the best ones to understand if they are feasible.

Prove your business passions

For many people, starting a business represents the chance to turn a passion into profit and earn from something they love to do. If you are in this situation, you will already have some useful information such as, for example, the cost of materials or sales opportunities. Furthermore, thanks to your enthusiasm, you probably already know the sector of reference well enough.

You just have to check if it is possible to transform your personal passion into a business with long-term commercial potential. Will you be able to grow your business over time and make it profitable enough to leave your current job?

Keep an eye on the competition

Look closely at your competitors, big and small, to verify that your idea is different enough from what they do to be successful and to offer something unique. Analyze their prices, business models, marketing and customer support. Read the reviews: is there something that they don’t offer but that customers would like and that could be an opportunity for you?

Analyze the target market

You need to know what kind of things potential customers will buy and how much they are willing to pay for what you offer. To do this, you can use market research tools such as surveys and discussion groups to gather opinions and information that will help you filter your ideas and approach. To create a survey you can use the models contained in free tools such as SurveyMonkey.

2. Explore the obstacles and learn to get around them

Every small business is different, but a common element is the need to overcome certain obstacles, more or less large, in the initial phase. Here are some typical challenges that small business owners face and strategies for overcoming them.

Ownership of the company

If multiple people are involved, you will need to decide who the owners of the business will be and whether the ownership will be shared equally. Consider who will do most of the work and the contribution that each one will bring. Establish basic rules on everyone’s contribution and what happens if a member decides to withdraw.

Systems and software

One of the obstacles when starting a small business is knowing how to develop the right infrastructure. Being able to rely on software and processes that simplify the work instead of making it more complicated can be crucial for the commercial success of the company. The project management tools, the accounting software, even if it is a simple spreadsheet, and the email system you choose will significantly affect productivity.