Back in my youth days, BC – Before Children – I could be spotted at my local pub having a few laughs with friends. Just outside this establishment was a kebab shop. During the day, this kebab shop was pretty empty. I actually don’t remember ever seeing a paying customer there. But at night, they couldn’t keep up with the orders. This business was booming because they found a hungry crowd─quite literally. Before you start your business, take some time to see if there is a hungry crowd for your product or service. Are people currently looking for what you can offer?
That leads onto the second C. When you are doing your research take notice of what the competition is in your local area. If you are a hairdresser and you want to open a home salon, is there one next door already? Ask your friends and family if they know of anyone with a business that is the same as what you want to start. Look at any community Facebook groups or the local paper.
Competition is not a bad thing. I believe that there are enough customers and clients to go around. But you must do your homework.
Once you have an awareness of the
competition, check them out. What are they
doing well, what are their weaknesses? How can you be creative and offer something slightly different? How can you add more value to customers? Think about why would they come to you over someone else?
I am sure you have heard that Pantene slogan, “It won’t happen overnight, but it will happen”. That is the same as any mumprenuer business. It won’t happen overnight, but it will happen… but only if you are committed. Not just committed to the business, but committed to continually learning and growing your skills and abilities; committed to receiving feedback on what needs to be improved or enhanced; committed to your vision, even on the tough days.
So, if you want to build a business, these are the first three things you need to think
commitment - are you committed to the vision and yourself?
Once you have nailed these three areas success is sure to follow.
Crowd
Competition
Commitment