Okay, so you have an idea for a business you want to start. Now what is the next step you should take?
Although you may be anxious to get started, the best step to take next would be to take some time and brainstorm. You will definitely need to think about things such as:
Your target market is very important. Who are you targeting? Young women ages 16-24? Men 38-50 that enjoy golfing? You have to determine who you think is going to buy your product. For example, when the The KB Agency was started, it was geared towards women ages 24-35 who are interested in starting or growing their own business. Now it may be women or even men that are still interested outside of that scope, and that is perfectly fine. The goal is to maintain the target and hit it. The customers outside of the target scope are an added bonus. But ensure that you are open to broadening your target market in the future as your business continues to grow.
- Target Market
- Issues that could arise
- Can the product or services expand to offer more products and services eventually.
Ask yourself these questions and once they are answered you may be ready to take the next step!