The pop up shop is a clever and interesting way to test and launch a new business. Rental of the space is short, sometimes free, is this the only difference between pop ups and start ups? For some reason entrepreneurs think the pop up is different from other businesses, they are not!
All businesses when they open for the first time are pop ups. Think about it.
What do you need to do to start a business? Oh no I hear you thinking, not another checklist, you know, the do’s and do not’s. Well, why do so many businesses explode, (the exact opposite of a pop up) in their first year of business?
The numbers are horrifying.
The reason so many businesses explode is that that have not followed a set of steps that really do reduce explosion and increase the likelihood of sustained activity and prosperity.
The first step – Does anyone want your product? How do you know? How do you find out? When you do research you must then check again and again before you pop up. Do you know how to create interest, make some noise and educate the market you exist and visit your business?
The second step – What has created the demand or need for your product and why you? The demand could be created by changes in rules and regulations, the economy, society (fashion and fads), technology, globalisation etc. Often we are so focused on what we do, we miss the big shifts in customers thinking and perceptions.
The third step – Can you make more money than you spend? This applies to for profit and not for profit, there is absolutely no difference. You need to find an accountant, now.
The fourth step – You. Can you do it? Really? Do what? Work hard and long, never give up, ask for help, the real thing I prescribe is finding someone to unload with, don’t take the downs and frustrations home. Talk to entrepreneurs, they understand, they really do. Rejection is normal and it hurts. Customers reject your product NOT YOU. This is very hard lesson when you pop up or start a business.
The last step – Why are you popping up? The money? A creative outlet? No one else is doing it? Please think and talk about why you want to start a business, after all, popping up is not for everyone.
If you do want checklists look at the web. Enter pop up and you will so many views and opinions, it looks like simplicity has been turned into complexity.
Happiness is a positive cash flow