10 Steps on Your Way to Additional Business

Nowadays we all live in a world of unlimited possibilities. Even if you are a student or a worker who has to devote much time to certain activities, that is not the reason for you to avoid trying yourself in something else. For instance, you can create mobile apps and small startups, or try designing things, or go in for any other creativity. Why not? In our times, many people look for additional income sources and then quit universities or regular office jobs and concentrate on their pleasant hobby which is able to earn them good money.

Student Business Steps

There are three reasons why people do not want to try something new:

  1. Lack of Self-Confidence;
  2. The feel of having not enough resources and time;
  3. Not enough motivation.

There are many different methods for you to get rid of such thoughts. One of them is about careful and thorough planning. Here are 10 steps that can help you create your side business.

Take Responsibility (Obligation)

That is the main point, because everything starts and usually ends with it. Do not think in “I should…” format. That is not an obligation. You need to decide clearly: next months will be devoted to that activity, and to start right today.

Analyze what you spend your time for at the moment. How do your days pass? What should you refuse? Most probably, those are social media, videogames, and other entertainments. You need to free at least a few hours in your schedule.

Create a List of your Strengths and Interests

What skills do you lack?

Personal Student Strengths

You probably have all the abilities required for starting your business, but if you don’t, it is time to make some decisions: you either think about outsourcing or find materials that can help you turn your weaknesses into strengths.

Nevertheless, you should understand that the lack of skills is not the reason to delay your start. Start at any case and look for ways that do not require specific abilities. That costs much in any business.

Check Your Business Idea

If there exists a startup killer #1, that is the businessman’s lack of will to investigate the market in order to answer a single question: does the market need my goods and services? Many creative and talented people think they know and can do everything. But business and market laws are always here, nobody cancelled them.

Before you start to create your business, ask yourself another question as a client: “Why should I spend my money for that?”.

Create a Competitive Advantage

A competitive advantage appears when you present your service or goods offering more than your competitors. There is no sense to start a business if you can’t set cheaper prices or offer your clients better quality of goods or services.

You need to take all details into account here. But you can’t be sure for everything to work even in that case. That is why another important skill you need for a business is flexibility: the ability to get adjusted to new circumstances, and the ability to develop your thinking as well.

Set Detailed, Measurable and Realistic Goals

You don’t want to start that long road without being conscious about your destination point for sure. So, set up goals for a day, week, month and year ahead. This will help you keep in mind both your close and far future.

Create a Roadmap for a Product or Service Launch

A roadmap looks quite simple: from point A to point B, then to point C. This doesn’t mean you have to keep up to that plan strictly, because during the creative process and gaining new experience you can find new info. But it is necessary to have such kind of a visual plan.

Each point on that map stands for a certain problem you need to solve. Think how you plan to solve all troubles beforehand and then move from point to point gradually.

Weaknesses are for Outsourcing

This is how you increase your concentration level. Nowadays, there are hundreds of websites for freelancers. And if you feel you’ve reached serious levels, you can focus on more important moments. Understand what you can do best of all, and delegate the rest for other people.

Look for a Constructive Feedback Actively

You will provide people with services or offer them your goods, so find out their opinion about your business. Make friends within business people and ask them questions, too.

Do Not Erase Borders between Your Studying (Or Job) and Your Business

If to combine both activities, you won’t be able to succeed in any of them. Study well; complete your studying tasks as you can. And only after you finish your studying day, you can focus on a business. It is not time to quit your studies yet.

Reach the Critical Point before You Quit Studies or Job

Here it is time to move forward. What is that critical point in that case? That means, you stored a sum of money which is enough for you to live for at least 6 months in case if your business suffers some failures. This means as well that your business incomes are bigger than your part or full-time job salary. When this becomes true, you can think about quitting the university or job, and to devote 100% of your energy for your business.

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