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.
Related Article – “Have you ever wondered WHO you need for your business growth?”
Here are my 10 Tips for someone wishing to start a new business.
Now, to make these things happen by putting them into practice you need to …
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/or 5 years from now. If you do not have this, it is virtually impossible to be on track and focused. Clarity is all important for your success.
3 Understand who is your audience 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. Clearly understanding both your target and niche market is necessary.
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. Understanding all the different departments necessary within a business is number one pre-requisite.
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. To start after operating for years is very difficult and time consuming. 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 a bookkeeper and/or an accountant
A financial plan for where you are now and for forecasting where you want to go is necessary. Find a good bookkeeper and/or 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. There are 7-14 touch points usually before a sale, so do not expect to get it after a few initial contacts.
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. This is imperative to the success of your business. Understanding the single steps necessary to reach a goal will support you to go there quicker.
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 you 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, in no particular order, to get your business moving fast.
Related Article – “MASTERMINDING- The Ultimate Tool for Business Success”
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