Are you tired of making the commute into a job you just barely tolerate for a pay packet that never really seems to go far enough? We understand. Sometimes in life you have to work in a role that you don’t like – but know this: There are options. Even if you think you don’t know what to do, then answer this. Have you ever looked at something and thought, “I could do that better?” We all have ideas all the time – and with a little polishing, perhaps one of those ideas could be the one that helps you to start your own business. Sound daunting? It doesn’t have to be.
Even if you have a great idea but are stunted by the thought of setting up a business – you have options here too. Gone are the traditional ways of running a business where you had to rent an office and furnish it. Now business owners are looking to new and exciting ways to get their business going. Some of the biggest success stories from Singapore today started out in a non-conventional way, and you can too.
Many businesses are turning virtual and renting a virtual office space. A Virtual Office gives you the professional presence in Singapore CBD to give you a professional edge, and it’s something that we recommend to all new businesses looking to start up the right way. So if you are thinking of starting your own business in Singapore and are ready to take the plunge, then read this to help you get started.
What is your Business Idea?
It’s all well and good to say ‘I have a business idea’ but it’s another thing entirely to turn this into an actual venture that gets off the ground. Having an idea that is clear enough to be saleable is key to the success of your business. If people don’t know what it is that you do and don’t understand your product then it’s not going to be very easy to sell your services or goods. A great idea is to make sure that you know your product’s unique selling point inside and out. When you know this you will have a clear direction about where to go. Take Singapore Muslimah fashion label LULLY SELB who broke onto the fashion scene a few years ago with their clothes aimed at Muslim women. They saw a gap and they filled it big time. This is an example of great targeting.
Research Like Crazy
Again with the business you need to make sure that you know what your customers want and how you can give it to them. Spend a lot of your time figuring out who your customers are, who your competitors are and how you can fill a gap or set yourself apart from your competition. Make sure you get onto social media and figure out what the gap is. Then fill it.
Seek help from someone who has been there before
If you’re keen to start up a business then you should be seeking advice from a mentor who can help to guide you. If you need to know the steps for starting your own business or are just unsure about how to move to the next step then you can jump online and hit up LinkedIn or contact a mentor in your local area to help you out. The SME Centre is also a great resource. The best thing to do is to speak to someone who has done what you want to achieve and then learn from them. That way you skip out on all of the learning curves that they have gone through before you.
Save your Money
You need to make sure that you have planned in advance for the potential teething period between when you start your business and when you are highly successful and flying all over the world in your private jet and going to meetings. Proper budgeting will help you here – so take a look at the business tools available to you
When starting a business in Singapore you need to make sure that you’re dedicated, and that you have the right kind of focus to ensure your success. It will be tough for a few years but then you will enjoy the success that comes from dedicated work.