12 Minute read
Step-by-Step Guide to Start and Grow a Successful Business
Mar 27, 2021
So you decided to start you're own business/side hustle to earn some money on the side and potentially grow it into something life-changing.
How to start a business from scratch?
How to grow a business? and
How to actually make money with my business?
Those are the questions we will cover in this guide, and if you passed some of the steps we cover in the guide, you can skip to a section here:
Starting from scratch
If you are not yet sure of what your business should be, and what you should focus on, check out our "12 Business Ideas for New Entrepreneurs article" where we give tons of business ideas that can help you decide on what your path should be.
But if you already have an idea of what you want to do, before you go any further, there are a few things you need in order to set yourself up to have a profitable business that actually makes you money:
- A good, useful product/service that solves an issue others have, or makes it more fun and entertaining.
- Love/Passion for the business or half-passion (which we'll explain later on in the article)
- Some free time (2-5hrs a day would be ideal as a start)
Without all of those factors combined, your chance of success is lower than 0.01%.
Most businesses today fail, and that's the hard reality of the game, and if you don't have a good product, time, passion, and patience, you're chances of success become extremely slim, and you stand at a huge disadvantage versus your competition.
So focusing on getting those factors in line before anything else is crucial for the success of your business.
How to make a good product?
To make a good product, you first need to have a goal in mind:
"What problem is this product going to solve?".
So, if you see that there's a problem that people wish to solve and you see a solution, that can be a great way to make a useful product that will help others and make you money.
If you've ever watched the show called "Shark Tank" you'll know that investors fight over good, high-quality, innovative, and competitive companies that have the potential to take over and dominate the market.
Most of those products came from simple solutions to the problems others are facing, and if people can relate to it, they will buy it.
Tip: Follow and keep up-to-date with the latest trends and the product ideas will come to you.
A great way to follow trends and stay up-to-date with things that are relevant is Exploding Topics. Check them out here 🚀
Another big part of making a successful and profitable business is time.
Time is the most precious thing we all have. No one wants to be wasting their time on things that have no value to them or the people they love, so being productive and using the time you have effectively makes all the difference when starting and growing a business.
How to organize your time towards success?
Organizing is hard.
How many times have you told yourself "Tomorrow I'm going to take 2 hours out of my day and be productive (Study, Fold those clothes you've been avoiding for days, go to the gym, etc.)"?
You do it for a day, maybe 2 days, a week, and then you feel yourself slowly dropping back to where you were before.
The truth of the matter is that we all have those moments.
Organizing your life is hard work, but sticking to your plans and goals is what separates winners from losers.
A great way to organize your daily routine and workflow is through a planner.
A planner can help you focus on things that actually matter and allow you to get your business to the next level.
For that purpose we suggest checking out Any.do
Once you managed to organize your time, try to make 2-5hrs for your business every day. Sticking to the schedule will allow you to never burn out your energy and stay consistent.