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Starting Your Own Business

Nov 2, 2007
Starting your own business can be exciting, rewarding and incredibly profitable but most aspiring entrepreneurs fail because they chase the wrong target. Starting a business is a common dream. Especially here in the United States, planning the launch of your own business has become a national pastime. This article encourages you to take action but gives you some important pointers before you head too far astray.

First things first. Everyone who wants to open a business is spending their time thinking of the next great new idea. They're trying to brainstorm what everyone needs but no one is currently providing. It's true. Some people have incredible ideas and introduce something no one ever thought of before, profiting handsomely in the process. But attempting to come up with the next great idea is a risky business and the vast majority of so-called great ideas go down in flames.

The easiest way to get into business is to do what everybody else is already doing but do it better. The fact that everybody is already doing it proves the market exists - a major risk averted. You also know exactly what your competition is doing because they're all around you. Don't try to discover the next great idea. Pick something that's already woven into the fabric of our economy and find a way of improving on it.

Secondly, aspiring entrepreneurs spend far too much time thinking through the logistics but logistics are almost never the problem. Yes, they can represent a problem later on and as the business grows but logistics are a distant second place in the early stages of launching a new business. Your biggest problem is marketing and sales. If you have a business idea, you should be spending 90% of your time on generating revenue. Believe me; once you have revenue, you'll find a way to deliver the product. The hard part is getting the revenue. Marketing is your number one priority.

Thirdly, don't be too upset if someone else beats you to the punch when it comes to business. The trailblazers are the ones assuming all the risk. And if successful, they're also the ones building a market for you to simply walk into. Let them carry the burden and spend your time improving on their mistakes and riding the wave they're creating.

A client who is interested in the Law of Attraction was complaining that Rhonda Byrne beat her to the market with her wildly successful The Secret book. I totally disagree. My client should be thankful. Rhonda Byrne created a tidal wave of public interest. All my client needs to do is get onboard and ride the wave. If Rhonda Byrne hadn't reached that critical mass and generated so much interest, my client would still be walking into an unknown market.

Starting your own business involves a lot of financial and emotional risk. It's one of the hardest things I've ever done. So don't look for even more risk. No. Find a market that's already proven and then deliver the product better than anyone else. That will minimize risk and give you an opportunity to realize your dream.

Tactical Execution has made a business out of helping other people start businesses. There is a huge amount of free content on the website and I hope you take advantage of the resources available there. Being an entrepreneur is exciting. Don't let another year go by before you start making your dream a reality. Start today.
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