5 Things Everyone Should Know About Starting a Business
Starting your own business can be an exciting time but powering ahead without considering basic practicalities can lead to disaster. Preparation is key!
From barbers or bricklayers, dog walkers to caterers and everything in between, these top 5 tips will help you get started in the business world and set you up for success.
1. Make sure it’s the right fit for you!
Starting a business might sound like a great idea, but it needs to be the right business for you. Ask yourself, am I passionate about this? If you have a real passion for your chosen industry, that’s a solid foundation to build on.
2. Create a business plan
Creating a detailed plan is a must when starting out in business. An effective business plan outlines your aims and objectives and uses measurable goals to determine the effectiveness of your plan. Set realistic deadlines for each milestone and track your progress.
A good business plan will include:
- Market research – customers, competitors, business strengths, opportunities, risks, weaknesses.
- Financial & legal information – what are your total running costs? What budget are you working with? Outline where you plan to allocate money and how you plan to gain that back through your work. Are there any legal factors to consider with your business? This is your opportunity to identify them and outline how you will coordinate those.
- A creative approach – what is your competitive edge? Will it be your price point or maybe an added value to your service? Brainstorm some ideas and decide what makes you stand out from competitors.
Remember to be realistic, Rome wasn’t built in a day. Set achievable and realistic business goals. ‘Fail to prepare, prepare to fail’.
3. Network, network, network
Making connections in the industry will help you learn and develop your business. Guidance from other professionals is a valuable way to help boost your chances of success. You can attend local events, reach out to people on social media, or even drop by their business and introduce yourself!
4. Remember to market your business
So, you have an amazing business plan and a network of contacts who have shared knowledge and support, but how do you reach your potential customer? The answer is marketing. Marketing is how you communicate with your customers. Marketing can be done in several ways, from handing out flyers to building a presence on social media, there are plenty of ways you can get your business out there.
Here are some great ways to market your business:
- Set up social media channels and begin posting about your business. Follow others in the industry and encourage them to share your content.
- Create some flyers and hand them out or ask local shops to put them up in their windows.
- Do you have some testimonials from customers? Ask them to share their experience and share this with your audience. People really value the opinions of others, so this will go a long way in building your credibility.
5. Dedication, Determination, Focus.
Running a business is never plain sailing and you will undoubtedly face challenges along the way. Stay focused on your goals and drive your determination to see them come to life by reminding yourself of that passion you started out with. Take the lows with the highs, stay ambitious and give it your all.
Are you ready to build your business empire but need a helping hand in getting started and boosting your confidence?
At Complete Skills Solutions, we have launched a Business Start-up & Management course, giving budding entrepreneurs the tools and knowledge to start their own businesses.
The fully funded course covers four key topics, Initial Steps for a Business Plan, Marketing for a Business Start-up, Legal and Financial Considerations for a Business Start-up, and Developing a Business Plan.
What are you waiting for? Boss up your business today with Complete Skills Solutions and find out more, here.
