I don’t want a job - I want to start my own business!

By Jane Lovas on March 11, 2010

Guest Blogger Jane Lovas' weekly series called “What I Wish Someone Had Told Me About Life and Career” runs each Thursday

I know some of you read last week’s blog about getting a job, and you were saying “No way, I don’t want a job. I want to start my own business!” Or maybe you’re still in school and think starting your own business in college would be a good way to make some extra money.

If that’s what you’re thinking, why not go ahead start your own business? But wait – what business are you going to start? And who are you going to sell to?

Starting a business can be exciting and scary at the same time, and the more prepared you are the less scary it will be. Take some time and answer these questions before you get started:

1. What are you going to sell? What problem are you trying to solve? Can you describe it in 15 words or less? (if it takes you a whole paragraph, you’re probably not clear on what you have to offer.) Once you’re clear you can expand on the description.

2. Who are you going to sell it to? Who is your ideal client? The more specific you can be, the easier it will be to find them. Everyone is not an ideal client. Again, can you describe who they are in 15 words or less?

3. Will they want it? It doesn’t really matter if they need it. It is “wants” that make people buy, not just needs. (Do you need Starbucks coffee? Or do you want it?)

4. How will you market it? You have to get the word out somehow: word of mouth, a Web site, social media, mailings or cold calling?

5. How will you fund it? This is a big one! Will you have inventory you have to pay for or other startup costs? Think business cards, Web site, networking functions and finance or legal fees.

Answering these questions will give you the beginnings of a business plan which will help you see what you need to do to launch your business. Also talk to your success team (check out Who’s Got Your Back) to see what thoughts and suggestions they have.

If you’re still in school, this is the perfect time to get out there and test the waters. Have fun- I’d love to hear what type of business you’re thinking about starting.

Have a great week!

"Lemonade Stand" courtesy maubrowncow via Flickr Creative Commons

Jane Lovas is a career specialist who is the creator of the life changing 12 week tele-seminar “Creating the Life of Your Dreams”. She is also our guest blogger, whose column will run every Thursday. If you would like to contact Jane, you can reach her here, here or here.