I was delighted when a good friend recently introduced me to John, a young man that wanted to get started in business. My friend said to John “Steve knows a bit about the business game, chat to him about it…” John told me about his ideas and I shared some with him. I then realised that there are lots of resources on business but just where do you start!
I said to John when I got started I wanted to get into it as soon s I could but was frustrated by red tape and finances. I was so excited, but then when the dream became reality PIF! it turned out so differently!
So after years of working with business people (starting out and experienced) I wanted to put together the ULTIMATE guide to getting started in business. So here are my 7 points to getitng started. For those in business, let me know what you think… For those starting out, try these tips to get a solid start on business.

1. Idea - Okay, to get started you need an idea but ask yourself, is it unique, is it something people need or want? Is it something you can discuss with others to see if they think its viable? If so, do it so you can be sure its going to be a useful thing to do, just because you think its a good ideas does not mean it is in reality.
2. Is there a gap? - Is there room for one more of what you are offering? If so what makes you so sure your version of it will set you apart from the rest so people will pay for what you are offering.
3. Courage and commitment - Do you really have what it takes to be so committed to the business? It requires a great deal of strength and determination. If you are hiring staff you will need to be good at people skills and have the courage to take them on and the commitment to provide their wages.
4. Explore the risk - Do your sums! If you want to earn $60k from your business you have to know how much you have to turnover to get that, and yes turnover is very different from what you will take home! Also work out how you will finance it, and no the bank does not lend new businesses money (rarely anyway). You will need enough money to get through to the break even point and start really earning money.
5. Get advice - Accountants are just one way to get advice on business, ask people who are in business, what would they do if they were starting out again? Check out internet resources, government support services for businesses, business courses so you will have a reasonable idea of what you are getting into. Ask questions LOTS OF QUESTIONS! Really know what you are getting into.
6. Sustainability - Is your idea for a business something that will last? Example if your idea was to create a dust cover for a mobile phone built in the early 90’s then it will have become useless in no time. It needs to be adaptable to changing market forces. Set up solid plans for success,  you would not build a house without plans, so don’t build a business without one either.
7. Get passionate! - You will create a product or service and then sell it… If people want to buy it they want to get it from someone with confidence and professionalism not a foolish amateur. Kow yo product, know your customers and give 110%. Let them know you are starting out and that you are personally going to provide the back up, people love that. You don’t need to be over the top to be passionate, but let them know you mean business.

So thats the list… The ultimate aim would be to know that someone used the list and thrived. For the guys already in business, what are your thoughts on the list?

Cheers

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