Start your new business the right way
Starting a new business?
Having a new business idea or starting a new business is both brave and exciting. Imagine what you could achieve!!!
But like most big decisions, it is all in the planning.
With more businesses setting up than ever before, having competition is positive – it shows there is a need for what you offer. However, if the marketplace is getting busier then you need to ensure you stand out for the right reasons.
It goes without saying that when going into business you need to:
- Do your research and look at your competition
- Consider your strengths and weaknesses and where you may need help
- Plan the bigger picture and understand your financials
You would be forgiven for thinking that to be in business you need to have some kind of “proof” such as a website. But this is where mistakes are made early on….
Imagine you are building the house of your dreams
When you build a house would you start thinking about the paint colours and the fixtures and fittings before you know how many rooms there will be? No, rather you would focus on creating the foundations which are critical to the house being stable through all sorts of circumstances and for a long time to come. That’s why architects make a blueprint!
Setting up in business is no different. It is so easy to get side tracked, focussing on the wrong things at the wrong time. For example what the name of the business will be, designing a logo or creating a website. During the early stages of a business, or if a business needs revamping, these are just distractions which will lose you time and money.
Businesses that make mistakes whilst establishing themselves will find this impacts their results and success for a long time! Trust me I know…
But it doesn’t have to be like that. With some guidance, you can set up properly right from the outset and fast track your path to success.
Before you start, and even if you work with a professional, put some time and effort into understanding the foundational areas of your business. This in-depth work will this deepen your understanding of your goals, will also make a solid blueprint for your business and make your success far more likely!
From my experience you may find yourself focussing on the wrong things at the wrong time
SPENDING MONEY TOO SOON
You start spending money too soon without first figuring out your foundations.
YOU CAST YOUR NET TOO WIDE
You end up taking any work that comes your way because you can’t afford not to.
YOU GET CAUGHT UP
Before long you realise you are busy on the wrong things and never have the time to work out why.