10 Tips for Start Up Businesses

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Starting a new business is an exciting time for anyone who has a wish to do something that is their passion or has been a hobby in the past.  I find that many people who commence business for the first time have no actual structure and as a result make their start-up very difficult and with a propensity for failure.

Here are my 10 Tips for someone wishing to start a new business.

Now to make these things happen by putting them into practice …

1        Know WHY you want to create a business

Knowing your WHY is one of the most important things you need to know before you start a business.  If the passion is not there you will not be able to survive the tough times as business gets tough!

2        Have a Vision for what you want that business to be in the future

It is important that you have a clear and concise vision of where you see your business in say 3 years and 5 years.  If you do not have this, it is virtually impossible to be on track and focused.

3        Understand who your audience is and how you can reach them

Knowing where your niche/audience is will show you where you can promote / pitch your business.  You need to know where to go to meet your future clients/prospective clients.

4        Set up a solid platform / structure on how the business is to run

If you have no clear structure around your business it will be impossible for you to focus and prioritise what needs to be done to move forward.

5         Systemise all aspects of the business

This is critical if you are to have a smooth running business.  This is easier to do in the beginning that to try doing it after operating for years.  If you are going to leverage in any way, it is imperative your systems are in place in all areas of your business.

6          Create a basic Business Plan

A basic Business Plan will help guide you initially.  Even though this is something that will probably more than likely go into the bottom draw, you need to have one to forward plan what you want your business to become in the future.

7           Create a Financial Plan and have an accountant

A financial plan for where you are now and for forecasting where you want to go is necessary. Find a good accountant who can guide you to set this in place.  They will be worth it in the long run.

8           Create a details Marketing Plan including Social Media / Advertising

Once you know your marketplace you need to create a marketing plan for how you are going to get your message out to prospective clients.  This covers your website, social media, advertising, business cards, flyers and the branding of your business.

9            Goal Set and create a 90 Day Action Plan every 90 days

Setting goals for the future are important and having a 90 Day Action Plan will keep you on track.

10          Find a mentor and mastermind group to support you

We all need to have someone to support us and keep us moving forward.  A mentor/coach will help your but a business mastermind group will give you the on-going support 24/7 if necessary and give you your independent board of directors for future growth.

Of course there are more things you need to do but these are the basics to get your business moving.

Jennie is available for one-on-one sessions via Skype or in person.
For more information email her at jennie@jenniegorman.com.au