Do you often find yourself daydreaming about your own creative start-up? You’re not alone. Now more than ever, people are pivoting to being their own boss, going it alone, and setting up the creative business endeavour they’ve always thought about.

In today’s digital economy, it’s easier than ever to take advantage of the opportunities available for you, but taking that first leap of faith can be a daunting prospect. Luckily, help is at hand – we have laid out five easy steps to realising your entrepreneurial dreams so you can get started straight away.

1. Business Plan & Ideation

Ideal Customer

Defining your ideal customer is the first step to targeting, reaching, and doing business with people. Once you know who exactly it is you want to reach, you can then begin to make the necessary measures to attract those people. You’ll know where to find them, how to market to them, and what’s going to make them swim to you in the sea of creative entrepreneurs out there.

Ask yourself the following:

• What does my ideal customer look like?
• What do they need or want that your creative business venture can provide?
• How do these people make their buying decisions?
• In contrast, what doesn’t your ideal customer look like?

Also, just as importantly, who are the kinds of people you really want to work with? Ultimately, having people around you who you enjoy collaborating with is going to motivate you to work harder – you’ll be in a positive environment in which you can thrive, and you’ll likely continue to make connections and network with similar people.

Competitor Analysis

Identifying your ideal customer will also allow you to conduct competitor analysis. This means you can get a bigger scope of the market out there for your particular passion – ie. who you’re going to be up against within your chosen niche.

With this knowledge, you can develop more of an understanding of the ways in which the people you’re competing against – or, indeed, the people who inspire you – have seen success, excelled in their field, and what has attracted so many people to them.

2. Budgeting & Pricing

Budgeting for your business is crucial, especially at the beginning of your creative endeavour. Before you get started, have a think about what costs you’ll need to factor in for things such as:

• Equipment, whether that’s cameras, software, or instruments.
• Space, such as studios or office areas (more on that in a bit).
• Legalities, such as licensing, permits, and insurance.
• Marketing, when it comes to investing in your brand awareness down the line.

3. Setting Up Shop

Creating A Portfolio

A solid portfolio is going to be your badge of honour when you begin to market yourself and attract potential clients to your business. With creative businesses, a portfolio can really shine – get creative with how you present your work and make sure it looks as appealing as possible to wow your prospects.

When you’re just starting out, getting a good portfolio going can seem like a daunting task, but don’t worry – there are plenty of ways to present a substantial amount of work in a way that’s going to look impressive and appealing, even when you’ve got less experience to show off.

Try doing a few passion projects where your talents can really shine and use these to bulk up your portfolio, or ask around and see if any family or friends might be interested in getting involved and trying out your services until you’ve got more clients rolling in.

4. Finding Your Space

A crucial step to any creative business endeavour – finding the right space for your company to grow. The environment you’re in will have a huge influence on your work process, networking opportunities, and creative inspiration.

At Meanwhile Creative, we have a wonderful range of affordable, flexible office areas and desk spaces just waiting to be filled by creative entrepreneurial minds, located in the heart of Bristol, Cardiff, Newport, and Manchester, all cities with a buzzing creative economy and a thriving network of like-minded business owners to connect with (if you’d like to find out more about how you can get involved, feel free to get in touch).

5. Marketing & Your Online Presence

Once your business plan is sorted and you’ve got yourself a good space, the final step is to market yourself and boost your online presence. In today’s creative economy, digital marketing is key to ensuring you’re reaching the right people, but also to ensure the right people can reach you.

Invest some time and money into expanding your digital presence getting your marketing plan sorted – you’ll be grateful down the line.

Taking the First Step

Building a successful creative business from scratch takes time and energy, but with some nurturing, it can be an incredibly rewarding experience. Often, all it takes is the confidence to take that first step – put in the work, surround yourself with like-minded creatives, and use these as a guide to help you as you grow.

Want to learn more about our flexible workspaces for creative entrepreneurs? Feel free to get in touch today to hear about how you can get involved.