Starting a business in Jamaica made Easy – Business 101

Out-on-a-Limb

The journey of a thousand miles begins with the first step. So does a business. Take the first step in improving your income today. So let us begin.

You are stuck in a job or no job with little or no income. Want to improve your earning capacity? Easy let’s start a business. And no you are not allowed to raise any objection no negative thoughts. Hear me out

1. What are you passionate about or enjoy doing?

Choosing something that you care about or enjoy doing ensures that when the going gets tough your passion keeps you going.

2. What am I good at?

 

This is extremely essential. What you are passionate about doesn’t mean you are good at it. I am passionate about food, yet I don’t cook well. See my point?  We are eliminating any reason to procrastinate, so telling you to go learn the skill is a no no. As I am sure you will come up with a lot of excuses why you can’t learn it now.

3 How do other persons’ benefit?

This is crucial. This is what contribute to a successful start-up. Persons will not spend their hard earned money because you seem to be a nice person. Your product or service must provide a solution to their problem. Example TV dinners. It solved the problem of coming home from a hard day’s work to slave over a hot stove.

4.  You don’t have to be unique

 

Don’t worry about making a unique product/service. You don’t have to be unique, you just have to ensure you provide a solution, you provide quality and have above average customer service. Look at the numerous talk shows that exist. Each person has their own fanbase. Look, you don’t want the entire pie, you would just like a slice.

5 Where would you get customers?

Firstly decide who you are making your product/service for (target market). Then create a plan on how to get information to that segment. For example, if your product is motivational key rings,  make a social media page and send out daily inspirational messages to your social media friends.

Start a free blog – this will continue to be my most important piece of advice. Put content on the blog that is will assist your target market and compliment your offering.  For example, you can write an article on how to keep positive in a crisis.

You can start a free blog on Tumblr, WordPress, Blogspot or many other places.

6 Design your process and pricing

Let’s stick with the key ring. Decide how you will get your product to your consumers. Will they be available only locally or will they be available both locally and internationally?

Work out what price you will sell them for, in order for the venture to be profitable. You must be consistent. The price cannot be all over the place.

7 Start small

I know a couple of people (who shall remain unnamed) that always want to start big. They can’t do a single thing because they have to have an office first, a million dollars to hire staff and buy inventory. Or have to go back to college to learn some skill before they can begin. There always is something that they have to do first.

Using the same keyrings example you can start with 12 keyrings.

 

Need help coming up with a business, or need help with pricing? Shoot me an email shawnakay.mills@financialassistantja.com

1 thought on “Starting a business in Jamaica made Easy – Business 101”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s