How to start a business without a plan!
It’s common wisdom that when wanting to start a business and become your own boss, you first need a big idea. That sounds pretty obvious and simple, right? But what if you feel the drive to establish your own commercial endeavor without first knowing precisely the product(s) and/or service you wish to provide!? A surprisingly large amount of people have actually taken this route, wanting to be their own boss and run their own company before deciding what kind of company it will be.
There are approximately 5.5 million startups and small businesses in the United Kingdom and trust us when we say that more than a few of them started from very humble beginnings with the owners not even sure themselves what they wanted to do but persevered nonetheless and went on to success.
If you’re a budding entrepreneur who just hasn’t had that “eureka!” moment of a big idea, don’t worry about it. In this article, we will outline a few options you might wish to consider in your first steps toward setting up on your own. Every entrepreneur’s story is different and unique so don’t be discouraged if yours is very specific to your own circumstances. The world of business is so vast and opportunities so unlimited, if you have the drive, the work ethic, and the mindset, then that will hopefully facilitate the vision, and once you get that, there’s no stopping you.
So buckle up and let’s dive in…
1. Franchise
Becoming a franchisee is a productive and relatively risk-free introduction to business. It’s a proven business model with a proven company, and the brand recognition is already there to begin with.
Being a franchisee allows you to operate under a brand name – like McDonalds or Starbucks, for example – adopting their imagery and products. Working under the umbrella of a well-known market brand presents immediate advantages, not least of which is the fact that you’ll have very-defined marketing and advertising strategies already in place.
You’ll also receive constant support from the franchisor, whether it be for specialist equipment, training new staff, or payroll processes. As a franchisee, you’re not out there alone in the business arena and both banks and lenders are traditionally more amenable to startups aligning with established brand names.
2. Cleaning Business
People always need something of theirs cleaned, be it clothes, home, or business. It’s one of those commercial areas that will never be lacking for custom and will always have a demand for.
There has been an exponential rise in independent cleaners being formed, and some of them have prospered substantially in the process. There’s no real huge initial investment in starting a cleaning business other than basic equipment and many highly successful cleaning firms have started small and worked their way up the growth ladder.
While you’ll want to hire staff for cleaning operations, it’s best you do it yourself in the first months to cut costs and get yourself established. Much of the equipment you need may already be in the premises you’re cleaning and you’ll find that most of the costs incurred in a cleaning business are for advertising.
3. From Hobby to Profession
One of the most direct routes to finding a niche for yourself in the entrepreneurial world is turning your hobby into your job. Many, many people have done this to great success.
The old saying that if you “do what you love, you’ll never work a day in your life” holds true in the context of this article. Turning your pastime into full-time is easier than you think. Are you an animal lover? How about setting up a dog walking or pet minding business. Avid home cook? Start a baking or food delivery service. Qualified teacher? Go freelance. The possibilities are endless.
Turning a passion into a profession also gives you maximum flexibility in work schedule, another distinct advantage.
4. Online
Probably the biggest growth area in self-employment right now. The prevalence and proliferation of the digital realm into our lives has become all-pervasive of late. One of the advantages of that is the opening of the world into one big global market stall.
Such websites as eBay and Shopify are literally one-stop shops for new entrepreneurs to establish themselves. Whatever you’re selling, there’s likely a market out there for it and money to be made from it. The only thing limiting you in this endeavor is your own imagination.
And establishing an online business comes with minimal investment risk as no physical premises are required nor expensive regulation or licenses required. Although it may take time for you to develop a sufficient customer base online so don’t go in expecting bountiful returns immediately. Patience may well be required.
We hope this article will prove a useful guide to you becoming an entrepreneur and has given you good ideas to get started with. Good luck!
