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When we dream of running our own business we tend to think of the great things we can do when managing your own time, or being your own boss and the hope of having great monthly profit so you can become financially free. However there are far more important things to think about before you even send out your first ever, ‘we are open for business’ advert.
Please see below my 5 top tips for starting your new business venture.
Nowadays running a business is pretty common as people have access to information and resources through the internet and social media. A search from Google showed there is over 5 million small businesses just in the UK. That means over 5 million businesses are bringing in new ideas or inventions to the “table.”
This is definitely not to scare you, this is just a nudge to help you think, before you start what exactly are you bringing to the world that is unique or slightly different to your competition. For example, there are hundreds of website designers in the UK, however not many of them provide support for most online aspects of your business. That is why I believe global sites is slightly different as we want to build great websites to make sure your customers have the best online experience and ensure directors and shareholders focus on running their business.
Have a think and write down what problems you are solving for people, what image do you want to portray to people, how do you know you can deliver the best service/product to your potential customers and how do you know there is a demand. Usually the best businesses start from the owner experiencing a bad service or was not able to get the product or service they wanted. So they created it themselves!
Great so you have found your first item or service which you want to sell. Ok now you have found another item or service you want to sell. Now there are lots of variations of your item or service… STOP!
Having too many items or services when starting your business can have a negative impact. Think about your customers and also your brand. If you just started selling T-Shirts as a T-shirt company and then next week brought out trousers your customers will get very confused, very quickly. When it comes to customers too many choices can prevent your items being sold. Start with your hero product or service, see how well that does first. This may take over a year however no rush, just focus on perfecting your hero to cement your place in the market.
Most big companies started with one hero product or service. Think about Apple, before smart phones their hero was simply mac computers. Let your hero do all the work first!
Probably the MOST important tip I can provide is love what you do! Lets get real, you have your business idea, you create your product or service, you announce it on facebook, you get all excited, you feel like you own a multi million pound company and then… Nobody cares!
The work rate you need to get your first few sales has to be huge! Over the years of running a business I have found that customers tend to buy into the passion I have for that business. Whether I am writing blogs, recording videos or just talking, they see how passionate you are about the service or product you are offering. The key thing here is most of what you do when starting your business is for FREE or an extremely discounted price.
Unless you have invented the next trend, sales will not be easy when you first launch, which means you won’t be getting paid. Generally if you love what you do, you won’t mind doing it for free just to get some customers through the door. That being said when you prove how good you are make sure you charge correctly. As they say you get what you pay for!
I see this mistake a lot. Great, you have an idea, now you post your idea on social media. Someone asks ‘do you have a website, email address, samples etc?’ and you say, ‘not yet it’s coming soon.’ You have just killed your own hype! Now this happens a lot generally because we crave feed back from the public, which is ok, however, releasing your idea while being prepared for potential business will determine how serious you are in the business world.
Really you should only be releasing or advertising ideas which you actually want to start as a business. When something involves people paying you in money, it should be taken pretty seriously, as people don’t really give their money away to anyone. Well they shouldn’t.
Keep your preparation away from the crowd. Soon as you believe you may have a business, then start looking like a business i.e. website, social media, contact details etc. If you can point an enquiry in the right direction from the start, then you may have your first paying customer, in not time!
Now my previous tips above are to help you get to this stage. However, if you do not action this tip you have just wasted your time.
You will probably have people mention that before you start your business you must have a sound business plan and all financial forecasts recorded, blah blah. This can be important, however from my experience focus on what you are providing. As long as your product or service makes sense then start!
Do not overthink when planning to start a business. Mistakes will happen and you deal with them accordingly. Just ensure you have an idea for a product or service, you then research that product or service to see how best you can offer it customers if at all, create your business name, logo, website, contact details and social media, create a bit of content about your service or product for example blog or pictures and then TELL EVERYBODY! This can be done by social posts, forums, leaflets, online advertising and the number one word of mouth! Talk about it everywhere! I use to go into the Apple store and put my website on all the devices! This is how I have started my businesses. Wake up from your dream and make it a reality!