Don’t make the same mistake in 2017 that you made in 2016. Put your entrepreneurial plan in order. You know that you always wanted to start a business, so start doing the research now. By taking the time to create a plan this year and begin the execution process, you will find that you will be well on your way running a business by this time next year.
The first thing you need to start doing is researching your industry and the external factors that affect your business. Start looking at similar products or services that are out there. Think about how you can make your product or service different and carve a niche market out for yourself. Look at your potential customer base. Who purchases the types of products or services that you want to offer? Where do they live? How can you reach them?
Once you start this process, your “entrepreneurial juices” will start to flow and you will be in the beginning stages of putting your business plan together.
A PESTEL Analysis is a great way to help you understand the macro-environment in which your business will be operating. Download our free PESTEL Analysis tool to help get you started today!