So you’ve decided you’re going to do it, you’re going to go down the route of working for yourself.
A bag of mixed emotions has come and gone, you’re confident, prepared and ready for the big wide world of self employment or running your own company.
Good for you, and a huge well done on getting this far. You will be surprised how many people don’t take that plunge, only to regret it later on.
What follows are a few quick tips on starting your new business.
Ask, ask, ask
Ask questions on matters you’re unsure of, speak to advisors, business owners and perhaps your target market.
Carry out market research regularly, from competitors to your customers continuously researching the market will enable your business to stay ahead of the competition and keep you current in the market place.
Ask other business owners how they achieved what they have, how did they start and so on. Find out all you can to ensure you are fully aware of the ups and lows of working for yourself.
Be prepared to invest more than just time
Businesses, a bit like relationships, take a lot of time to build up to be the successful enterprise you want/expect them to be.
Unless you’re the next Facebook or Instagram your business isn’t going to be known over night or a success over night.
So be prepared to invest, long hours, blood, sweat, tears and money into your business.
When it comes to running your business, cash is king, run out of cash and you’re going straight back to the starting point again or worse you could go under if you don’t have the funds to ensure your business pays its creditors on time.
Running your own business does involve long hours, but how you spend those long hours largely depends on your business model and of course you, the business owner.
Know your limits
Downtime, it is vital for any business owner or director.
If you’re the sole director or the only person that looks after your business you’re going to have to learn your limits.
Working from 0900-0300 in the morning is not sustainable, believe me, I know. It is a recipe for burnout and a long and tiring road to recovery.
So set yourself some limits that are easy for you to commit to, keep you productive and maintain a good healthy lifestyle.
Take up a new form of exercise whether it be Yoga, Meditation, Mindfulness or an hour at the gym.
Working around the clock, day in day out with no time for yourself is going to cause you massive problems, so take sometime out when you feel you’re approaching your limit.
Believe me you will feel refreshed once you get back to the office and you will be able to solve business problems faster and help your customers better.
We have two ears and one mouth, for a very good reason.
Listening to other people, particularly those of business owners that have built a business from scratch will help you avoid some of the most common pitfalls as a start up.
Take your time in getting to know people, their journey, how they started and also where they are aspiring to be in the near future.
Enjoy it, have fun
There are a lot of risks that you take as a business owner.
But the rewards and the fruits of your labour are clear to see when you get that over residing yes from the client, or that testimonial.
Networking and meeting new people is all part of the business landscape and having whist you do it will ensure that people not only warm to you but will also ensure that you will never do another days work.
Categorised in: Help and Guidance