Let's expand the list of important aspects for your own business successful implementation, outlined in the last article:
1. It is important to have maximum autonomy and independence, for example, the ability to produce a product at home, in garage / basement or small private room will help you thoroughly understand the technology, all the nuances of manufacturing. At the same time, in some cases, of course, it is worth placing production on the side, at least partially. From this follow the next point.
2. You should start manufacturing your products in small batches with minimization of investments and costs, preferably without hiring permanent staff. As a rule, small-scale / outsourced production is expensive, sometimes many times more expensive than large-scale production. It's not scary, the main thing for you at first stage is to release your unique, competitive product, provide sales and promotion channels. And if you have a demand, you can always scale up your business and build your own production facility. Of course, the minimum margin should be at all stages of the project.
3. It is necessary to remember about the Pareto principle, because about 20-30% of efforts give 70-80% of result. Do not scatter your work and efforts in directions that will not bring real, significant benefits to the project now or in foreseeable future. However, this does not mean that it is worth forgetting about the need for proper organization of business processes and business management systems.
4. Be aware of multitasking and critical path scheduling. Many important tasks need to be carried out in parallel in order to meet the shortest possible time from the formation of an idea to its implementation at the level of physical sales.
5. You should focus on empty, unfilled niches with low competition and relatively easy market entry. To find such niches, you should remember what you were looking for on the Internet, but could not find, discuss with your friends their needs. Think about your hobbies, talents, what product would help you or interesting. You can see what products people are looking for in popular search engines (wordstat.yandex.ru, Google Trends) and try to make product in this niche.
6. You should remember that it is really difficult only at beginning, if you find an interesting and promising product, you will gradually be able to debug all processes, understand all nuances, learn a huge number of new skills and broaden your horizons. With each of your progress towards the goal, it will become easier. For example, once you have established sales through Ozon or Wildberries, you can gradually increase the portfolio of goods sold and the actual revenue in future.
In next article we will outline the range of tasks that should be kept in mind when starting. I continue to publish articles about business development incl. in the field of digital and information technologies, and also continue to engage in business consulting. If you are interested in articles on this topic, then subscribe to my Telegram channel: https://t.me/biz_in. If you have a need for business consulting support, then I am waiting for you on my website: https://akonnov.ru/