“As a seasoned business consultant, I’ll let you into a secret,” says Alessandro des Dorides, “There’s no formula for the perfect start to a new business.”
Things can go wrong before you even begun or you could float into months of perfection. With a raft of information available out there on how to get started, it can be tricky knowing where to look. But you need to know that you will learn so much as you go along.
Here are a few of my best tips for when you’re starting out.
Don’t let fear hold you back
If you want to start a business, go for it. Some people have dreams of raking in tens of thousands doing a job that they love – but it never happens for them. Why? Because they have a massive fear of failure.
There’s umpteen excuses you can make to not startsomething new but sometimes you just have to grab the bull by the horns and be your own boss.
Consider the benefits – you can pay yourself a wage, take time off when you need it and not have someone on your case about deadlines.
Find a solution to your dreaded problem rather than let it hold you back.
When you start to tell people about your amazing new business plans, listen to what they say – whether it’s your mum or a close friend, they’ve probably got a view about it. They may have a tip or idea that may just help you along. Choose someone who’s going to be honest.
The ultimate reaction after asking a few, is sure to be the collective opinion when you unleash your business. Fellow business owners are great people to gauge advice from as they’ll be happy to share the mistakesthey’ve made.
Don’t get too complicated
Don’t bamboozle yourself before you’ve begun. No one wants to hear your complicated plans. They only end up resulting in products that aren’t needed and too expensive.
Create a simple, quality good or service. A successful business idea should make promises to customers and exceed expectations.
Once your idea is in your mind, gather your thoughts on the costs to develop your business idea. You have tolaunch and operate. Will you need marketing and PR to let the world know? You’re going to need to spend money on rent and supplies too.
Whatever you think you need for a budget – triple it. You’ll always face unexpected costs that you hadn’t considered So it’s best to be prepared when people start calling for your cash.
Look at your current sources of income. What do you earn from your current job? How long would your savings last if you quit?
If you’re already working full time and you want to quit to run your own business, do it gradually. There’s nothing like the shock when that regular wage packet doesn’t come in when you decide to go all out.