Rask - How to start a business in 2025 - Part 1
The podcast episode kicks off a four-part miniseries on how to start a business in 2025, offering valuable insights for both new and established business owners. The hosts discuss the importance of starting with a clear purpose or 'why,' which serves as a guiding principle or 'North Star' for business decisions. They emphasize the need to align business ideas with personal passions and skills, and to establish core values early on to maintain focus and direction. Practical advice includes using resources like Gino Wickman's book 'Traction' for setting values and mission statements, and Simon Sinek's 'Start with Why' for understanding the importance of purpose in business.
The episode also covers the importance of validating business ideas through market research and leveraging networks for feedback. They suggest using tools like Google Trends, IBISWorld, and social media listening tools to identify market gaps and trends. The hosts share personal anecdotes about past business decisions, highlighting the importance of patience and thorough research. They also discuss the significance of creating a mission statement to attract customers and align business operations with core values. The episode concludes with a preview of the next installment, which will cover business structuring, financial management, and product sourcing.
Key Points:
- Start with a clear purpose or 'why' to guide business decisions and maintain focus.
- Align business ideas with personal passions and skills to ensure resilience and motivation.
- Use resources like 'Traction' and 'Start with Why' to establish values and mission statements.
- Validate business ideas through market research and feedback from networks.
- Utilize tools like Google Trends and social media listening to identify market gaps and trends.
Details:
1. 🎙️ Welcome and Important Disclaimers
1.1. Welcome Message
1.2. Important Disclaimers
2. 🎉 Year-End Reflections and Miniseries Introduction
2.1. Year-End Reflections
2.2. Miniseries Introduction
3. 🛠️ Miniseries Overview: Starting a Business in 2025
- The miniseries is a comprehensive four-part guide focused on starting a business in 2025, providing insights that are valuable even for established businesses.
- Each episode is equipped with resources listed in the show notes to facilitate the business startup process effectively.
- The series starts with the ideation phase, covering the initial excitement and decision-making involved in starting a business.
- Further episodes delve into practical steps, including setting up an ABN, managing financial components, and understanding cash flow.
- Cash flow management is emphasized as a crucial part of the business setup, offering significant insights into effective financial management.