Corporate slavery isn’t exactly fun, and it’s definitely not what most people imagined their careers would be like when they were younger. You often find yourself sucked into a vortex of routine, deadlines, assignments, and meetings. You start forgetting what really counts in life, and more importantly how to have fun.
This is why many young people have started opting for quitting their corporate jobs and creating their own startups, and there’s no doubt that entrepreneurship is on the rise in the world. But sadly only a few of those who venture into the world of private business succeed, and plenty do not. How is it then that you can create a million dollar business?
Find something unique that you enjoy
Truth is there are thousands of different ideas floating around everywhere, and people start new companies all the time. The trick is in finding something unique that you thoroughly love and enjoy, and try to make a successful business out of that. Good ideas are hard to come by, but they are out there.
Still, if you don’t enjoy what you do, then chances are you’re not going to be very successful, regardless of how good the idea actually is. This is why the idea being unique is as important as you enjoying it. Maybe you like collecting baseball cards, something that might seem like a trivial hobby. But if you take that idea and try to scale it, why not create an application that connects card collectors all over the world so they could trade and exchange cards?
Get a team
You can’t hope to possibly make it out there on your own. Entrepreneurship is challenging and requires you gathering a team of equally motivated and capable human beings to help you along your journey. Celebrity Mediterranean Cruises started out as a small cruise line and gradually grew to become one of the biggest luxury cruise providers all over the world, and this of course, can never be done without having a solid team of management and employees in place. All it takes is someone willing to share along your success story, but once that happens, the sky’s the limit.
Get financial support
Now this might be the tricky part at first. Getting someone to help finance your business is not an easy step, but it’s an essential one nonetheless. Most small business owners use their personal savings to jump start the business, but that could only last so long. Your only option would be getting external sources help fund your business till it grows enough. Now, sources to do so would vary, from crowdfunding to asking for loans, but the best of them has got to be accelerators.
With the booming of entrepreneurship over the past few years, accelerators have started emerging. They are basically companies with finances capable of helping an emerging company, and in exchange they get a percentage in the company. You need to target those ASAP and you’ll need to have a clear scalable plan for the future of your business. How else are you going to sell them the idea that your business is going to be the next unicorn?
Don’t give up
As mentioned earlier, many people start businesses in the hopes of them growing to be multimillion dollar ones, but that happens less often than you’d think. What separates those who make it and those who don’t is the fact that the former never give up. Fact is you’re going to face a lot of awful times growing your business, and most days at first it’d feel like you’re not going to even get back the money you invested. You might not find emotional support from friends and family too. But at the end of the day if you want to make it big, you’re going to have to take it all in and keep going till you achieve your dreams.