Have you ever considered starting your own business? What are the key ingredients of making a business successful? Starting your own business can seem pretty daunting, but with a few handy tips and tricks, you’re going to be in a better position to get going. So let’s have a run-through, shall we?
Be Enthusiastic About Your Business
You have to love what you do and if you have any doubts, don’t do it. If you do something half-heartedly it will not work. Commitment and enthusiasm is one of the key areas to make you and your business a success.
If you haven’t found what you’re passionate about keep looking. Once you find it, ways will unfold and doors will open. Keep believing in yourself and your business idea.
Prospecting, Prospecting & More Prospecting
We call this the 3 P’s. No matter what business you are in, you have to sell your products or services. If you don’t sell, you will not make it. Your product will not sell itself! Yes, you will at some stage build a reputation for yourself and your business but until that time comes you will need to go out and look for your customers.
Be Resilient
There will always be ups and downs in business. There are times when you will make money and sometimes when you don’t. Be committed to your goals and tasks and keep going. Don’t give up even in the hardest times. It will be worth it in the end. If an opportunity rings, take it. If you have to take up employment in order to get your business off the ground, take it.
Don’t be ashamed if something doesn’t work, your business idea will change as you go along. Change is vital for business, and being able to adapt to those changes is one of the most important factors to consider.
Networking
Networking is a great way to connect with like-minded people and other businesses. Join networks such as BNI, your local Chamber of Commerce, or any local networking organization.
SFA (Small Firms Association Ireland) is also a great way to get started. The important part is to get yourself out there, let people and other business owners know that you exist. You may even get some future customers out of it.
Write A Detailed Business Plan
It is important to write a detailed business plan. Not only will you need a business plan to get funding or a loan, this plan will highlight faults within your business that you then can eliminate immediately. You will also get a much better understanding of your business, your competition, your products and services and most importantly your future customers.
Get Help
Nobody knows your own business better than yourself. However when starting out, surround yourself with people who are supportive. Get the help of a sales coach or business mentor. A coach will help you stay focused, will encourage and enable you to think outside the box. A coach’s job is to challenge you to make you think about your business in ways you may not have envisaged. Although it is an expense, however partaking in coaching sessions now will save you some trouble down the road.
A good business coach will have seen it all, and will know what pitfalls to look out for along the way. Yes, we learn from our mistakes but we can also learn in a safe environment with a coach and this will ultimately safe you a lot of money. Many business coaches have usually great offers for start up companies so don’t be afraid to ask what they could bring to the table.
Do Your Research
This is probably one of the most vital parts of any new business venture. Understand your market. It is important that you define your market fully. Consider the following: Private or business use, age group, male/ female/ children/families etc. Are your competitors selling locally, county wide, country wide or internationally? Perform a needs analysis. Talk to your potential clientele, would they need/ use your product or service?
Consider using test clients, and getting feedback from them. When testing your product or services with people don’t simply test it with family and friends, test it with people you don’t know. This critical and objective feedback is very valuable
Make Your Business Unique
Even if you sell products or services that other companies offer, it is important to let your customers know why they should buy from you. What is unique about your business model that no one else can offer? What is the additional service that makes you stand out from the crowd? Give your customers a great experience when they buy from you.
Having a core niche for your business is far more manageable than trying to juggle your business in every direction. If you can’t think of why your business is unique, speak with your business coach or mentor. With a great coach you will be able to discover the stand-alone factor of your business even if you can’t see it right now.
Just Do It!
Don’t delay. If you have all the ingredients, you’ve done the market research and you have some customers lined up, just go for it! While there will always be reasons not to do it, there is also a lot of support. Whatever you want to do, be committed to it, persistent and passionate about what you do and success will eventually follow.
Starting your own business and need help with your sales? Then ACS has the perfect services for you. And why not stay up-do-date with our tips & advice by subscribing to our newsletter?