You have a Passion for Martial Arts and you want to combine that with being an Entrepreneur?
Do you have any experience being an Entrepreneur?
There’s a big difference between being an Entrepreneur compared to being an employee. Entrepreneurs have a lot more responsibilities and pressure compared to employees but they also have a lot more rewards, both financially and energetically, than being an employee. As an Entrepreneur you get all the risks and also all the rewards that come with the risks but, you also have all the downside that may come with the risks. The point is that you must be prepared to excel at being an Entrepreneur.
Do you have the experience you need in the field of Martial Arts to be an entrepreneur in that field? If not, either hire that experience on your team or go get that experience yourself by being someone’s employee in the Martial Arts field. Having the right experience will help you acquire quickly the do’s and the don’ts of the industry. It is much easier to learn from someone and avoid costly mistakes than it is to go in a field that you do not know and make costly mistakes.
Once you have either acquired the experience you need by hiring someone or have acquired the experience yourself, make a business plan. You must know where you want to go and how you plan to get there in order to get anywhere! So, start with a business plan. You should use a software such as www.businessplanpro.com to help you do this step efficiently with as many details as possible. To be an effective entrepreneur, you must have a start, middle and finish line that you want to follow and a business plan will be your guide to help you get on the right track and stay on the right track.
It is also important to do market research for your entrepreneurial venture. How many Martial Arts studios are in the area you want to be located in? What is the reach of your market? Is your market open, stable or saturated? Where are your customers? Which area do you plan on having them come from? What is your marketing plan to reach these customers and get them to your location? Once you have gotten them to come visit your studio, what is the process that you will take them through to get them to sign up as a member of your martial arts studio? What makes you different from all the other martial arts studio in your area? Do you plan on staying local or do you want to grow bigger and expand in other cities? If you want to expand, what is your specific plan that will get you there?
You will need a great location for your business as well. Location, location, location (as they say in real estate) is crucial to your success. You can scout out great locations or hire a real estate professional in your local market to help you out with this part of becoming an entrepreneur. Please make sure to consider getting a location with plenty of parking spaces and avoid high cost and long-term commitment on a property leased. The less overhead you have, the less pressure you will feel and the better you are likely to perform and enjoy the experience as an entrepreneur.
Lastly, what are the ways that you will get your business plan funded? Do you plan on using your own resources or do you plan to get your idea financed? As an entrepreneur, you want to be prepared. If you plan on getting your idea financed, it is a good idea to call a financial institution and book an appointment with one of their representative and ask them what questions you will need to answer prior to approaching the financial institution of your choice with your idea. They are likely to give you a list of great information to help you be well prepared for the big day! No one ever said that being an entrepreneur is easy but it is absolutely worthed!
Be Blessed and please share this website with your contacts to also help them with their dream of being an entrepreneur.