If you’ve thought about opening your own business, be it a lifestyle business or otherwise, you might have begun to look for advice. There are so many tips for starting a new business out there that choosing which ones to follow can get confusing.
As a seasoned entrepreneur, I can tell you that there is no perfect formula for starting a small business. I’ve learned that the best business advice usually forces you to think in a new way.
So, I’ve compiled a list of tips for starting your own business that you might not have heard.
If you’re thinking about starting your own business, you need to understand that each person’s experience is different, and you won’t find one single answer which is going to outline the exact details that are relevant to your idea.
However, we can help by providing some broader points that hopefully will help steer your thoughts to that relevant idea yourself.
Tips for Starting a Business
1. Be a sponge.
Absorb everything, all of your life experiences have a lesson you can learn from. Even the parts you have despised about previous jobs can teach you what not to do. The only shortcuts you will get in this journey are from being empathetic enough to understand and learn from other people’s experiences.
2. Add value.
There’s probably someone else out there doing the same thing, if not something similar. How can you be the solution to a problem, or provide a benefit to others. Have a concise sentence that explains how you add value, this is your ‘why’, which is what will become a key part of your elevator pitch, your marketing campaign and USP.
3. Nail the simple things.
Keeping it simple and getting the core idea right will translate into an idea that is easy for the end user to compute. Once you have this part perfect, then you can look to expand on those other ideas you’ve had.
4. Don’t give up.
The best things are on the other side of fear. You’ve probably seen the illustration of a miner digging and giving up just short of the diamonds on the other side. It is somewhat cliche, but from a personal perspective, i really believe that if you can overcome the period where you are most likely to give up, you really will reap the rewards. Remind yourself of your ‘why’ and see it through.
“When You Want To Succeed As Bad As You Want To Breathe, Then You Will Be Successful”. When I first read this whilst trying to develop an idea 6 years ago, I thought wow that is dramatic. I now realise that actually, it’s true. You have to seriously want this and if it takes that one small comment from someone doubting you to motivate you then use it.
6. Take risks, but be sensible.
If you’re looking to start your first business, prove to yourself you want it enough by spending your spare time on it. Build the business whilst holding down a full time job and when you have a steady income, then you can look to make the switch.
7. Build an audience.
All too often you see start up businesses focussing on the idea and the vision, then when they get round to sending the product/service to market there’s no one to buy it. Take the user on the journey with you, they will support you on your way and will be waiting to snap up your offering when you get there…
8. Trust the process.
You’ll get out of it what you put in, it will pay off. If it’s not working right now then it’s probably you that needs to change direction, adapt and log everything.
Hopefully this has helped to give you a bit more guidance.
If you’re still unsure, then please don’t hesitate to get in touch with us! We’d be happy to have a chat.