Hi,
To build a business, start with these 4 essential steps:
1. Identify Your Niche. Pinpoint a specific market segment or need that your business will cater to. What problem do you believe your niche addresses, and why do you think your solution stands out?
2. Define your value proposition. Once your niche is clear, craft a unique value proposition that distinguishes your business from competitors. What distinct benefits or solutions does your product or service offer to potential customers or clients?
3. Validate your idea. In the graduate school we call feasibility study. Conduct a feasibility study, which could be as simple as surveys or interviews, to gauge the viability of your concept. What insights have you gathered from these efforts, and how do they influence the feasibility and viability of your idea?
4. Create a business model. Develop a comprehensive business model, possibly using a business model canvas. You can learn more about this tool here: [https://www.investopedia.com/terms/b/businessmodel.asp]. This model will outline how your business creates, delivers, and captures value.
Once you've completed these steps or if you need further guidance, feel free to reach out. I'm here to help you navigate the process and achieve your entrepreneurial goals.
