Eagerly, after repeatedly thinking about it, you are about to take the plunge. Unemployment, under-skilled jobs, life on hold : enough of it!
You have a business idea, it’s time to test its viability. Your expertise is quite sufficient to offer your services as a solo-preneur. So many motivating reasons to get into action: what a fine resolution!
Does your product or service idea fit the needs of a market?
Question yourself upstream about the number of potentially interested and recurring clients you may get.
If your offer is for expats, see how far you can also propose it to a local clientele. Today you are settled in this country but have you thought about the transposition and the portability of your business? If you possess the soul of a globetrotter or that your partner can lead you to an other part of the world from one day to another, it’s worth thinking about it now.
Take the time to polish your market research
Start early saving personal funds
In time, your banker or funder will appreciate this effort that demonstrates you believe in your business. Also, you can provide for the initial start-up costs as well as the working capital needs outlined in your business plan.
Analyze the usefulness of all expenses. The excitement of creation often makes commit the mistake to spend on material where not immediately needed. Only rent premises when necessary for your image or if the comings and goings of clients could become a nuisance. Otherwise, consider sharing: co-working is an excellent opportunity to share and find partners or associates.
Welcome the competition as a chance to do otherwise
Let your personality, your methods and your tools make the difference. The temptation is often great to copy those we think the business is going well. If practicing competitive intelligence is crucial, this should serve to work on a new positioning: take the risk of “thinking an doing outside the box”.
Besides, are you sure of the level of competition? Do your so-called competitors address the same market? Do they use the same approach? What if your potential competitors could become your best partners?
Understand the challenges of intercultural and rules of this country
However, do not get too hung up on this; first, spend time on your market research and tie up your product or service offer. Specialized expat professionals can help you there.
Take a break and relax
Taking an even short disconnected vacation will allows you to enjoy alone, with family or friends, new sources of inspiration to recover, think about it !