Starting up your own business can be an exciting, yet daunting time – you’ve got lots of great ideas, but it requires careful research, planning and preparation to turn your vision into reality. So here are just a few simple tips to help your business really mean business!
Business is set to boom.
Britain’s startup companies have hit a record number and in 2016, it was recorded that aspiring entrepreneurs were setting up companies at a record pace of 80 an hour. According to the Telegraph, 342,927 new businesses were registered with Companies House between January and June, compared with 608,110 for the whole of 2015. So the next time you start to feel the nerves kicking in, just remember you’re not the only one to have taken the plunge.
Fail to plan. Plan to fail
Putting a plan in place is easy, but putting the right plan in place takes some time. Writing a business plan can help to give you some structure and evaluate your idea in detail. Carefully make realistic targets and consider everything – your services/products, competitors, customers, management team, finances, goals, strategy and development. Be realistic though – Rome wasn’t built in a day! Here is some more detailed advice on creating the perfect business plan
Invest in you
If you are looking for investment, make sure you describe the opportunity clearly. Why should someone invest in you rather than Mr Barton who is doing something very similar 10 minutes away? Why should people buy from you? What is your unique selling point – what makes you special? Your plan should answer all these questions and reflect how seriously you are taking your business.
Is your networking working?
People buy people, so make sure your enthusiasm comes across when you’re out and about and never leave home without your business cards to help turn these encounters in to relationships. Moo.com have got some great examples of how your business cards can leave a lasting impression.
Your name. Your logo. Your statement.
A good name can really make a statement about your business. You can either shout about what you do, for example Real Recruitment, or include your name, e.g Smith & Telford, or you could even get creative and use a clever play on words, like Cut Above. The main thing is that clients will remember the name, so sometimes less is more. Once you’ve got your name, you can start thinking about your logo – a well-designed logo can have a big impact on people. Think carefully about what you want your logo to say about your company, making sure it’s relevant to who you are as a brand.
Healthy competition.
To understand your market, you need to make sure you know what everyone else is up to. Who are they? What are their strengths and weaknesses? Are there any likely implications for your business? Your plan should show that you have a clear strategy to enable your company to stand out from the crowd.
The customer is always right.
So you’ve probably spoken to friends about your new venture, but have you researched the market that you’re thinking of entering in? Chat to people in your customer demographic and see if they give your product or service the thumbs up or down.
Find the perfect business partners.
Starting up your own business can feel quite lonely at times and you’ll often feel like you could do with having someone to bounce ideas off of. Friends or old colleagues that have bitten the bullet like yourself are always good to go to for advice. There are also plenty of exhibitions and conferences for you to get some insight into how you can help your business move forward. The government now help start up companies through a new government-backed mentor service. It’s a free service to help businesses with experienced support via a network of quality-assured mentoring organisations, so it’s definitely something worth looking into.
Spread the news
Harness the power of social media. Gone were the days where you had to let people know you were starting up a business by calling them or writing a letter. Thanks to social media, you can now talk to thousands of people around the world, in your slippers! Take a look at Improve Your Online Image for ways to market yourself online.
Money talks
The key for every small business is cash flow and it’s obviously the biggest worry for all start up companies. This website specialises in small business loans and are always on standby to help you and your business get the support you need to grow. From cash loans to long term loans, it’s their business to help yours.
Watch me, but don’t stop me
It’s very easy for people to put their penny’s worth in and you’ll find some people won’t understand why you are taking the leap of faith. Surround yourself with supportive people – don’t waste your time or energy on negativity as it won’t be doing you or your business any good. Simply hold your head up high and as long as you know you can do it, nobody else can get in your way.
Believe it, conceive it, achieve it
The only person that really stands in your way of success, is you. Self-doubt can be crippling, so it’s never been more important to believe in yourself. If you are prepared to put 100% in to making something out of your business, you’ll find that self-confidence will always be knocking at your door.
Time for take off
So with everything in place, all you need now is to commit and it won’t be long before you’re reaping the rewards. It’s easy for new business owners to chain themselves to the desk for the first few months, but remember a healthy work life balance is essential to building a strong and stable business.
Good luck!
The post Kickstart Your Startup Business appeared first on Amazing Life Daily.