THE BABY BOOMER WAY TO START YOUR OWN BUSINESS!

By:  Ex Econ Dev Chair

Wanting to start your own business? Well, you’re vital, strong of mind and will and you’re not ready to retire, even though you are already receiving your pension for years of dedicated work; or maybe you’re simply tired of your current gig and you’re wanting to start your own business.

There is no better time than the present to make your thoughts and dreams come to true. 

The key is to know your customer.  Focus on who wants, needs or could benefit from your service or product.  Secondarily, you must be passionate about your venture.  No one is going to want to work as hard as you will want to, so in order to set the pace and enthusiasm, you must believe and want this deeply.

How to start…

Be realistic.  Is there a customer, better still, are there many customers?  You must stay afloat so you’ll need customers who find value in your product or service.

Know who your customers are.  What demographic would find your product or service of interest.  Keep in mind that your product or service must somehow add something to their lives, give them some kind of balance within their lives, whether work or pleasure, it must be somehow genuinely beneficial and easy to do or use.

Understand that not everyone will know how to use your product, or how it will benefit them, so prepare yourself to explain it through pictorials and videos.

Your customers want to like your product, if they find it beneficial, you will have uptake, that is as long as you know where and how to reach your customers.

So be honest with yourself about your product or service.  Ask yourself, “is there a market for my idea and is how large is my market.” Realise that your market can be little or big or not at all.  Discover your customers first then know where they interact.  You will then be able to listen to their chatter to know where their interests lie.

Keep in mind that just because you think your product or service is a million dollar idea, doesn’t mean it genuinely is.

Also, know your competitors, but don’t be afraid of them, go beyond them, keep them in your rear-view mirror, but believe in yourself and your concept.

Now, sallyforth and start your own business.