In the beginning of your entrepreneurial journey you are young, inexperienced, and have less funds. In this case it makes sense to test the waters before starting and also starting small. It also makes sense getting professional help as that gives you a third party perspective about your business idea.
These are certain ways in which you can start your entrepreneurial journey:
- START SMALL
It is a good idea to start small in the beginning. At this time you are not sure of whether your start-up will be a success or not and it is thus a better idea to cut costs and not overspend. You can start in your garage or basement. Many of the top businesses like Microsoft and Apple were started like this. According to Jignesh Barasara, in the beginning starting small makes sense and also is less risky. So don’t go for a lavish office in the beginning, just go slow and steady.
- DON’T INVEST TOO MUCH TOO EARLY
It is not a good idea to invest too much early. Start first with investing your savings and avoid loans. Do a test run of your business and analyze customer feedback. Don’t waste your hard earned money on advertising and marketing in the beginning. Your focus in the beginning should be minimum investment and maximum returns
- DO A TEST RUN AND EXPERIMENT
Whenever you start a business, take a survey or a feedback about the business you are getting into. This will help you take an educated decision and also help you save on unnecessary expenditure according to JigneshBarasara.
- GET PROFESSIONAL GUIDENCE
It is also a good idea to take professional guidance in the beginning when you are starting your business. This will give you a third party perspective and provide clarity on the potential and power of your business idea.
By getting a perspective on your business idea, starting small and testing the waters you are safeguarding yourself from all 4 sides and then you are sure to taste success in the long run in your dream venture.