As the title says. Are there other options that aren’t glaringly obvious to me? It seems you either have to pick an idea and run with it or do some research to find the best idea from several choices? Is that oversimplifying entrepreneurship? How did you get started?
Do you just pick something and get started or do you do analysis? How do you know when to stop if doing analysis? If you just pick something, how do you know when to quit if it’s not working?
byu/SouthsideChitown inEntrepreneur
Posted by SouthsideChitown
3 Comments
Yes always do market research. Pick an area you’re genuinely passionate about. Then see if there are problems you can solve in that space. Research how to solve them. Come up with a product or service, do research on your customers. Give yourself a few months, but don’t give yourself a year. Afterall, you have to start eventually. Once you feel confident in yourself, just do it.
As long as you know how to market, in my opinion any buisness can be successful. But note: you must know your product, service, etc good to be able to make it work.
My first buisness was detailing, I was able to run Facebook ads and knew how to set up. From the day I started up to 2 months. I had 4-9 clients per week. Didn’t require much analysis. I gave the buisness to a friend.
The buisness im in now is hardscape and fence, I did this before becoming a buisness owner so I knew the trades, permits, plans, etc. same menthod marketing. It’s my 2nd full year and we’re doing good.
Also don’t stress it, if you don’t see any results, I see so many people switching methods when they see no results for a week. I tend to spend 1-2k on marketing for 2 weeks with no results. But once I close one client it’s covers for what I spent and it’s a high paying.
The only reason people quit is that they don’t have the right information or don’t know what to do next. I’ve haven’t been in that situation but I’ve had times where the bills were high than what I had in savings but the solution was spend on marketing and close my clients to be able to pay those bills on time.
I’ve had to options to sell what I’ve owned like trailers, trucks, etc. but never had to.
Start with your goal in mind. What are you wanting to achieve? Then focus on the specific audience you are trying to target. Next dive into market research.
If you are talking about something specific like SEO, social media content/ads, or something like that, it’s not about when to quit as much as when it’s time for a new approach, such as hiring a consultant or an in-house specialist with a proven record.