Sometimes there is too much yabbering on about “Yeah I’m going to start that business” well get on with it! I don’t mean BLINDLY jump in and start but there are things you can do to assist your start up to well… get started. Plan, you have probably thought about your business a LOT! Now put those thoughts on paper.

Get the right people behind you, a mentor, an accountant and listen to their advice and information. Then explore ways to make your business successful, That might start with effective accounting software, so you can have time to practice getting up to speed with how it will work for your business.

Now take a look at these ideas and explore your planning from there.

Start up tips.
  • Get smart – Set solid achievable goals, Aim to work less physically and earn more, therefore get others to do the hard stuff that is too taxing on you and you get to supervise them
  • Do your research – Who are your competitors, what is the need for what you have to offer, how much will your costs of business be…
  • Get a mentor – Find someone ‘successful’ in the line of business you want to go into and chat to them, make them your best buddy, learn from them fast.
  • Do the sums – How much money do you need to earn PER DAY to make a decent wage for yourself, work it out over a 220 day period, as that’s about all you get in a working year. Know that profit is different from wages and overheads… Use any profit wisely
  • Develop easy systems, policies and procedures as you go – Make it so that if you had to sell the business tomorrow, you could set someone up in that business really easily
  • It’s an asset – That means it earns money and if you sell it later on you can realise a profit. If it’s a good business it will sell easily and that will be due to good $$ figures as well as having great systems a kid could follow to make it run
  • Be the leader people LOVE –  Your staff, your customers, your suppliers. They should all love you for all the right reasons, you are honest, trustworthy, respectful
  • Learn more – You don’t know it all, you either learn fast or get someone to do do it for you. Actually do both so you can keep your finger on the pulse of what’s happening
  • Squeak – Be squeaky clean in all your dealings in business, naughty deals go bad, not every time, but when they do you may well have good reason to fear for your life
  • Professionalism – Be the best you can at communication, presentation, living positive values, making/creating fantastic goods and or services

Overwhelming? Welcome to business, and this is just the tip of the iceberg…

  • Have business insurance – Peace of mind can cost money, but it’s worth it if you need to payout hard earned $$ for whatever reason
  • Real estate – You want to rent an office, a workshop, a shopfront… Good find out the details of how long the lease needs to be, what things you can and can’t do there. If you want to rely on passing trade, for a shop front for instance, then sit out the front and count, if 50 people go past in a day, how many of those will buy from  you?
  • Marketing – It was never easy, and now although there is social media, it’s even harder to get peoples attention, time to create a plan, a detailed one. Oh and you have budgeted for the costs yeah?
  • Budget – In the first phase of business you will spend a heap of money, make sure you know where it’s going. Careful planning is vital here, too many people have thrown away countless thousands on a fabulous idea, only to go nowhere. These people can end up sour and bitter about business. Track your income, profits etc, learn  how to do that effortlessly
  • Learn more – Read articles, jot down ideas, do a small business course, jot down more ideas, check out your competition and other businesses like yours, chat to them, find out their pain and figure out what you can do to avoid that pain. Go to business seminars, industry events and the like. Get into groups on social media for your industry type. Read books on key business things you need to know about, marketing, operations, management, communications skills, leadership and negotiation, just to name a few

So you figure you will be busy with all this and have no time to do your real business… Yep, that’s right. If you think your business is just going to be 9 – 5 with days off, then you have another thing coming. You will plan to get in early, leave late and LOVE IT! If you don’t hang in for the long haul deeply passionate love fest, then you can kiss the whole thing goodbye…

  • Get passionate – Then stay that way
  • Get support from your family and friends – They might not see much of you for a while! Also make sure you support them…
  • Develop  your skills – don’t just think you are good at what you do, become brilliant!
  • Be humble – No one likes a smart Alec, nuf said!
  • Surround yourself – With people who care and want you to succeed
  • Repeat – All the previous points and get on with being fantastic at what you do and how you run your business

I guess you need to then figure out early how you will replace yourself in your business with others who can do the work and free you up to get on with enjoying the business. Don’t like some aspect of your business? Put someone in there that can do the task and love it.

Regards

Steve Gray

Enterprise Provocatuer

 

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