We get it. You’ve been thinking about starting your very own business and you’ve been looking for advice everywhere. But everywhere you’ve looked you’ve found the same advice repeated in different ways. Here is some advice that you won’t have seen anywhere else.
1. Excuses excuses…
Lots of people dream about starting a business but just don’t around to it because of their worries about failing. Fear of failure is nothing new, we’ve all been there, but don’t let excuses stop you.
2. Watch, Listen & Learn
Listen to everything others have to say and make notes on any resources that you think will be useful. Being a successful entrepreneur is as much about watching and listening to the reactions you get when you explain your business, as it is about doing your thing.
Before ploughing ahead with your idea, start by identifying a problem that your product or service will solve. Customers are always attracted to things that can address a problem. Having a clear idea of why your product, or service, exists will help to determine what you’re selling.
Perhaps you have a business idea that is good to go. Be sure to keep that idea simple, don’t overcomplicate things, get rid of any extraneous features, or you’ll end up with something that is too expensive for a first-time product.
What will the price be for your product or service? Not just the elements that make it up, but the expense involved in putting it together. Whatever figure you come to, multiply it by 4 and that will be an accurate Put together a business budget and don’t forget to also budget your personal expenses.
6. A Scary Scenario
Picture your bank balance at zero. Yes, a scary thought, but there’s a good chance that that will happen. Entrepreneurs need to prepare for every eventuality. Work out how long you can last on only your savings.
7. Spread The Word
Don’t be shy about talking about your business. You have an idea to sell and people love to buy in to new things. A lot of people aren’t comfortable with this, so grow some confidence and get talking.
8. Keep It Legal
Always keep on top of the legal regulations you need to adhere to in order to avoid difficulties. If it’s a food business make sure you have your health and safety certificates. Also, be sure to stay on top your tax responsibilities.
9. Passion and Wisdom
Passion is a brilliant thing, but don’t let it influence your decisions. You need to remain level headed and listen to your instincts, as well as your market research.