So in the midst of the pandemic, many people have decided to start a business. People now have a strong desire to work for themselves. They do not want to be in the mercy of someone else for their income.
The dilemma that many future entrepreneurs have is, “What type of business should I start?” You see that you have talents or a passion in multiple fields, but are confused on how to choose what business to open first. Good thing we are here to help!!!
You have to ask yourself 4 questions to help determine what you should do.
Who are you?
What problem do you want to solve?
Who else is stealing your idea?
How do you create your own lane?
The first question you have to ask yourself is Your Name? Before you can determine what business you would like to start, you need to know who you are, your capabilities, and your interests. You have to ask yourself the following questions
Instead of trying to determine what skill you are going to use for your business, it is better to determine what problem you are trying to solve. The purpose of a business is to solve a problem. For example, a bank is trying to solve the problem of people needing a place to store their money safely.
When you are trying to figure out the problem, ask yourself the following questions:
I obviously don’t mean literally, but you need to know what companies are doing something similar to what you are doing. You need to figure out who are the top contenders in your industry, than ask yourself these questions:
After you have determined who you are, what problem you want to solve, and analyze the competition… it is time to determine how to create your own lane in this industry. It is always important to be inspired by what has been created before, but you should always create your own lane.
You might be asking, “How do I create my own lane in a large industry?” What makes each entrepreneur different are the skills and experiences they each bring. Each person can bring a unique spin to a common service. When we decided to start our business and wanted to assist creatives, we initially just thought of just booking appointments and writing a blog. We then realized that we were limiting our skills to what other marketing consultants did. We realized we have skills in graphic design and web design, and we also are experienced in organizing workshops. So we decided to use those unique skills and create a unique business.
It is important to not just do things because this is the way it has always been done. Internet conversations were initially meant to only happen in chat rooms and emails. Then someone said lets do something different, and started creating social media platforms.
Concerts and performances were always meant to be in a stadium live and artist believed that was the only way. Insert the Pandemic. Now artists had to find ways to perform for their audience. Now online concerts are the norm.
In conclusion…
Take some time to determine if it makes sense to open a business. Don’t hold yourself back because of indecision. I was told the best way to start a business is to start it.
Mark is a multi-talented community activist, spoken word artist, graphic artist, teacher, and dancer from Westbury, NY.
The Bonafide Lyrics & Marketing, LLC is a Marketing Consulting Company focused on marketing artists, and other small business owners that are following a passion. The founders and owners understand that creatives are in need of an agency that will assist them in marketing to their fanbase without compromising their art. As artist in our own field, The BLM, LLC understands the importance of staying true to your art. We are here to work with you to create an effective business and marketing strategy made specifically for you. We utilize our knowledge of graphic design, SEO standards, analytics, and the current market, to help you achieve your goals.
