In this article you will learn how to kickstart a business when you are pressed for time. Let me kickstart by asking this question. Are you nearing 40 and feeling the pressure? It’s normal to get anxious as you approach this milestone, with its extra responsibilities and the fear that starting your own business might be out of reach. But your forties can also be a time of exciting discovery and growth. By now, you probably have a good idea of what you want from your career—and what you don’t. So why not turn this period into an opportunity to reinvent yourself?
This guide will walk you through the essential steps of starting a business, even when time is a luxury you don’t have. From identifying your ideal customers to pricing your products and building your brand, here’s your roadmap to making your entrepreneurial dreams a reality.
1. Find Your “Why” to Kickstart a Business
Before you dive into the nuts and bolts of starting your business, you need to understand why you’re doing it. Take Glenda Shawley’s story as an example. In 1992, Glenda was doing well as a freelancer, juggling tasks from resume writing to teaching. But she hadn’t officially started her own business because she hadn’t nailed down her core motivation. She wanted to support her family financially and have more than just family activities in her life, but these reasons weren’t compelling enough for her potential customers.
Your “why” needs to resonate not just with you, but also with your customers. Consider a physiotherapist whose mission is to help clients live pain-free lives. This why attracts customers who share the same goal. In contrast, if your only motivation is money, it won’t inspire potential customers or make your business stand out.
To find your “why,” reflect on what you’re passionate about or what your unique strengths are. Sometimes, getting input from friends and family can be helpful—they often see your core qualities more clearly than you do.
2. Master the Basics of Business
With your “why” in place, it’s tempting to rush into launching your business. But understanding some basic principles can save you from common mistakes.
One classic error is trying to appeal to everyone. It’s a recipe for creating a bland, generic product. Instead, focus on a specific audience who will be enthusiastic about what you offer. Another mistake is assuming that people will buy what they need. In reality, consumers buy what they want. Your challenge is to make your products or services desirable, not just necessary.
Lastly, don’t rely solely on loyal customers, especially if your business doesn’t lend itself to repeat purchases. If you’re selling something people buy often, like food or beauty products, great! If not, like in the case of a wedding planner, you’ll need to constantly attract new customers.
3. Identify Your Ideal Customer to Kickstart a Business
Who is your ideal customer? Knowing this can make or break your business. Focus on a niche that’s both narrow and deep. For example, instead of targeting all mothers, consider mothers with babies under three months. This allows you to tailor your marketing and communication to a specific group, making your product more appealing.
Research your local market before diving in. If you’re thinking of opening a high-end women’s clothing store, check if there are enough potential customers in your area. Use demographic data to inform your decision and ensure there’s a market for your product.
Test your offering in a low-risk way before going all in. Try selling at a local market or a pop-up shop to gauge interest and adjust your strategy as needed.
4. Build a Consistent Brand to Kickstart a Business
Your brand is more than just your logo or store design. Think of it as an iceberg: the visible part is your branding, but the larger, hidden part includes your customer service, online reviews, and communication style.
For example, if your slogan is “Feel safer with us,” your actions should back this up. If your delivery drivers are reckless, it undermines your brand. In today’s social media-driven world, a single negative review can reach thousands, so consistency is key.
Decide on your core values—whether it’s affordable luxury or family-friendly reliability—and make sure every aspect of your business reflects these values.
5. Get Your Pricing Strategy Right | Kickstart a Business
You need to make a profit, and that starts with an effective pricing strategy. One approach is cost-plus pricing, where you add a set percentage to your product’s cost. This can vary greatly by industry. For high-end fashion, you might need a large markup to cover the cost of unsold stock at the end of the season.
Competition pricing involves setting your prices lower than your competitors’. This can attract customers but be cautious of thin profit margins. Alternatively, value-driven pricing justifies higher prices by offering something extra, like a free head massage with every haircut. This works best when the added value is low-cost for you but desirable for customers.
6. Focus on Your Customers | Kickstart a Business
Your business should revolve around your customers, not you. Think about their journey from the moment they become aware of your business. Identify a problem they have and position your product as the solution.
For example, if you offer an ironing service, target busy, stressed-out parents who haven’t thought of outsourcing their ironing. Use language that resonates with them and describe how your service can alleviate their stress. This customer-centric approach will set you apart from competitors.
7. Know When to Get Help | Kickstart a Business
Starting a business in your forties has its perks—you’re wiser and more confident. But it can also be tiring. Recognize when you need help. Outsource time-consuming tasks to experts. For instance, if a greeting card designer spends too much time pitching to shops, hiring a sales rep could free up time for designing new cards.
When hiring, don’t rely solely on traditional interviews. Tailor your process to the role. For customer-facing positions, conduct phone interviews. For administrative roles, include practical tasks in the recruitment process.
Final Thoughts | Kickstart a Business
Starting a business at any age requires a clear purpose, a sound financial strategy, and a deep understanding of your customers. By leveraging your life experience and seeking help when needed, you can turn your entrepreneurial dream into a reality, even if time is scarce.
Actionable Advice: Start Slow, Grow Steadily
Before you plan a grand launch for your business, consider starting quietly and letting word of mouth build your reputation. You may not be ready to handle an influx of customers right away. Instead, refine your processes and build a strong foundation before going all out. This approach ensures that your first customers have a great experience and become your best promoters.
Remember, the key to a successful business isn’t how fast you start but how well you grow. Happy entrepreneuring!