— offers people the chance to earn a steady income while also focusing on their pet projects, budding entrepreneurs need to be sure that they are starting a business for the right reasons. Whether it be solving a specific problem that has played a big role in their lives, or simply being able to choose their working hours rather than following a 9 to 5, starting a business is a big risk that requires total commitment. a multitude of social and economic problems that need solving, fast.
Dive right in to communicating with your future customers, too. The sooner you start collecting user feedback, the sooner you'll know if you're heading in the right direction. Talk to existing clients from your side hustle as well as friends, test groups, and online users . Ask them what they would want to see from your company, and what would be a turn off.
Test different hypotheses and rely on data to let you know when you're hitting the mark. Wilk explains that Decorilla launched as an interior design service, but customer behaviors indicated that they wanted a white-glove shopping concierge service. In response, Wilk actively sought out furniture and decor vendors to build a commission-based affiliate model and provide users with higher-end brands.
Wilk was able to make Decorilla cash-flow positive from the get-go by using crowdsourcing platforms and researching how to make tasks less expensive, especially repetitive tasks where there is more freedom to negotiate price. Wilk also recommends reading "The For Subotky, people don't take things as seriously if they are not paying.
Entrepreneur RMKatz
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »