1. Find your passion
- Identify Your Passion: Focus on something you care deeply about or are curious about.
- Assess Your Skills: Evaluate your strengths, weaknesses, and experiences.
- Understand Your Risk Tolerance: Entrepreneurship involves uncertainty; know how much risk you're willing to take.
2. Research and Idea Validation
- Find a Problem to Solve: Great businesses solve real problems or meet specific needs.
- Conduct Market Research: Identify your target audience, market size, and competitors.
- Validate Your Idea: Test your idea with potential customers through surveys, interviews, or small-scale pilots.
3. Develop a Business Plan
- Mission and Vision: Define your goals and what success looks like.
- Business Model: Outline how your business will make money (e.g., product sales, subscriptions, services).
- Marketing Strategy: Plan how you’ll reach your customers (e.g., online ads, social media, partnerships).
- Financial Plan: Include budgets, pricing, and funding needs.
4. Build a Network
- Find a Mentor: Seek advice from experienced entrepreneurs or industry experts.
- Join Communities: Engage with local entrepreneur groups, accelerators, or networking events like your 'Caparica Founders Breakfast.'
- Leverage Social Media: Connect with industry peers and potential customers online.