A silver lining? I think so!
If you’ve been affected by the restrictions imposed because of the pandemic (and who hasn’t?), you could be looking at a golden opportunity!
Just think for a moment. They say that every cloud has a silver lining. In this case, it’s your chance to break out of the mould and start your own business. By the time the all clear is given – which could still be quite a while away, who knows? – you could have set the wheels in motion to build a separate income stream that will eventually allow you to quit your job altogether.
It won’t happen overnight, and it will take some effort on your part, but we can help you start and grow a business of your own, which you can run from your own home, at your own pace, and where YOU are the boss!
You’ll be asking yourself: How do I do that? I’ll give you four essentials you’ll need to know.
- How to find business opportunities
FIRST, you need to choose a niche, by which I mean select a market sector centred on a specific topic. It could be stamp collecting, or home dressmaking, golf, fly fishing or car maintenance.
It might be something you have already experience in – which is good because you can talk knowledgeably about it – but it doesn’t have to be. It needs to be something a large number of people would be interested in.
I’ll take classic Mercedes-Benz sports cars as an example. I had a 1979 450 SLC a few years back, and I joined the Mercedes Benz Owners Club – online, of course.
- How to build an audience
SECOND, you need to build an audience of folks who share an interest in your chosen niche. So you go looking for people who own or would like to own a classic Mercedes. You can start finding these people by using social media, but there are other ways we can tell you about.
As you grow your group/audience, ask them what they are looking for. In our example, you’re going to find a lot of them will be asking for good mechanics local to them. Some will be looking for suppliers of spare parts, others may be interested in classic car shows/events they could get involved with.
You get the idea.
- How to build a website
THIRD, (and I nearly made this top of the list) you’re going to need a website. There’s no getting away from it.
Even if the idea fills you with terror, don’t worry. We have two courses (Beginner and Advanced) in building a website with WordPress, which is probably the most popular web builder ever. It’s easy to use and very cheap.
This is important, because your website is going to become your shop window.
- How to set up a supply chain
FOURTH, you need to set up a supply chain. I know that sounds daunting, but it really isn’t. All it means is you need to find firms who can supply the products your customers are looking for. A bit of internet searching will soon get you on the right track.
Again, we can show you how, if necessary.
Once you have found a selection of companies who can supply your audience with the things they want, you need to cut a deal on the profit split. It’s up to you how you negotiate this, but I start from the basic premise that they have products and you have people, so nominally it’s 50/50.
However, the suppliers are always on the lookout for more buyers, and if you can put loads of potential customers in front of them, you should be able to get better than 50%. The bigger your group is, the more leverage you have.
An important point here is to cut your deal such that the product supplier also takes care of the fulfilment. That means they send the product to the customer, not you!
[Just for your edification, I get 80% on my sales, and the fulfilment is done for me.]
So that’s it, really. While you are obliged to work from home for a period of time, take advantage of the opportunity. How long would you spend commuting to and from, normally? You can use that time to get your own business started. An hour or two per day is plenty.
And the time will come when you no longer need that salaried job!
Choose a niche, build a crowd with a common interest, find one or more supplier(s), set up a website and introduce your suppliers’ products to your people. It’s simply a matter of connecting people with stuff they want or need. They get a product that has value for them, you get paid, and everyone’s happy.
As I said earlier, it won’t happen overnight. But if you put in the grunt work – as I did with my business – IT WILL HAPPEN.
We have all the tools you need to make it happen for YOU!
Simply visit us at https://regispublishing.co.uk
See you all again next week!