Tips for Starting a Business in Indianapolis from Elliot Princell

Are you thinking about starting a business in Indianapolis? Here are three practical tips that will help you get started right and set you up on the path to success.

Are you thinking about starting a business in Indianapolis? Here are three practical tips that will help you get started right and set you up on the path to success.

1. Get Your Mind Right

Assuming you already have a business idea in place, the next step before you officially start your business is to get your mind right. There are several ways you can get your head in the business game, including listening to podcasts, joining entrepreneur groups in the area or on Facebook, and reading books by other entrepreneurs. A great book to start with is The Lean Startup by Eric Ries. To keep your mindset in the right place after you’ve started your business, make reading a part of your daily personal growth routine.

2. Identify Your Target Audience

The next step is starting a business is to identify your target audience. You may think your product or service is for everyone, but that is rarely the case. If you try to sell to everyone, you risk not appealing to anyone. Instead, come up with an avatar of your ideal customer. Once you know who they are, you can start to find those potential customers and build an audience.

3. Start Small

You might be tempted to “go big” and start raising funds to back your business right away. It’s wise, however, to start small and build gradually. Find friends who can help with tasks like taking professional-quality pictures or building a website.

Marketing should start small as well. Too many start-ups focus on having the best marketing when they don’t even have a real company yet. If your product or service works does what it should, word-of-mouth advertising will serve you well at the beginning (and for years to come). Once you know that what you are doing works and you have a feel for what it’s like to build a business, you can move on to bigger and better things.

The life of an entrepreneur is hard but incredibly rewarding. If you decide to go for it, follow these tips and get yourself started right.