The explosion of the gig economy and technology have put entrepreneurial business ownership within reach for everyone. It’s allowed people of all ages – even children – and from any background to become successful business owners.

It has made it possible for people stuck in dreaded, dead-end jobs to take charge of their own destinies and follow their dreams. The common thread among such individuals is having a good idea, something they know deep down can be transformed into a successful venture given the determination and vision needed to make it happen.

Apple co-founder Steve Jobs once said, “People with passion can change the world,” and it is certainly passion that has motivated innovators including Mark Zuckerberg and Elon Musk. With the right idea and focus to make it happen, a driven entrepreneur can certainly change his world.

Translating an idea

Perhaps the most important part of the process is to translate your idea for others, who need to understand why your idea is compelling and why it will make a difference for them. People, especially prospective customers, need to understand the overarching purpose behind your plans and long-term intentions. You’ll need to communicate your idea in a way that consumers in all demographic groups can understand. A bulleted document listing the benefits and options of your service or product won’t necessarily resonate with everyone. For younger demographic groups including millennials or Gen-Z, who relate much better based on instinct and emotion, it’s especially important to relate your story on a personal level.

Neverending Research

You can’t know too much about your target market and competitors. There’s always something valuable to be learned from someone who does things differently. Pay attention to their mistakes as well as their successes. Doing so gives you a yardstick to measure yourself against and provide invaluable insight. And when you research, make sure to take a “hands on” approach so you get a firsthand feel for what you’ll need to do to succeed and how to avoid mistakes. Consultants can provide plenty of information, but they can’t impart the gut-level instinct that can be gained by learning through personal observation and asking questions.

Promote your idea

You’ll need to effectively promote your venture to audiences through multiple channels. Public relations is an effective and cost-effective means of promoting your brand because it uses information and data to show quantitatively how a business idea can benefit others. Public relations skirts the hollow hyperbole and expense of advertising. You’ll promote your business with a marketing “toolkit” that includes a carefully crafted message, logo and color scheme that grabs the attention of people online and in person.

Once your business has been launched, it’s time to enact an ongoing marketing program that touts your successes and news in an objective voice, relying on data and facts. Online content, encouraging the publication of case studies and social media outreach are some key approaches to take your new business “viral.” Be prepared to adjust your message and outreach tactics based on changes in your business and your clientele.

Hot prospects

There are many niche business ideas and products, such as smartwatches, wireless earphones, and designer phone cases, that show high-impact potential and are well-worth pursuing. A new laser hair removal product is showing signs of being quite popular, especially among women seeking a reliable and affordable means of grooming. Denim looks poised to make a strong comeback in the clothing market, and shapewear, which is worn below clothing and has a slimming effect, is popular among overweight individuals and women who have given birth. Men’s watches and anti-snoring products are also trending upward.

Vent your passion and use your business acumen to communicate a great idea and transform it into a successful venture. There are many tools to help you promote a business model and for reaching the niche market you want to target.

Courtesy of Pixabay.com.    

 

1 COMMENT