My Top 5 Tips for Starting Your Own Business
Journalling at Patch co-working space in Chelmsford - photo credit Hiral Jethwa
Starting your own business is exciting and daunting at the same time…
You might already have a job, you might be working in corporate, and you might have that fire in your belly like I did. Whether you’re just starting out or well on your way to launching a business, these five tips will help you get off the ground and on your way.
Tip 1 - Journaling:
Write all of your business ideas down. No idea is a bad idea when it comes to journaling for your business. Write down every thought that comes to mind; don’t filter or censor yourself – just write it all down! Not only will this help keep track of those brilliant ideas but it will also give a clearer view of what direction you want to take with your new venture. Here are some thought starters for your journalling:-
Doodling your brand name and logo;
Brainstorming your website content;
Coming up with social media ideas;
Developing your product or service offering; and
Writing your story of why you want to start your business.
Tip 2 - Start Simple:
When beginning any sort of venture, it’s important to start small and build on success one step at a time. Many entrepreneurs get overwhelmed by the thought of building their dream business so they put too much pressure on themselves to succeed right away. Don’t overwhelm yourself with too many tasks too quickly—start simple, stay focused, and work towards achieving smaller goals until they become second nature before taking bigger steps forward.
For example, create yourself a plan for the next month, split it into 4 weeks, and give yourself 1 thing to do each week. This could include:-
Research into websites;
Look at competitor pricing;
Do some market research with potential customers;
Develop your mission and vision statements; or
Create a moodboard for your branding.
Tip 3 - Research:
Before you can properly launch anything, you need to do research into the industry and market that you are entering into. Take the time to look into competitors, key players in the space, customer needs/wants/desires, and technology trends that could be helpful for your new venture. These are all essential pieces of information when creating an effective strategy for launching any product or service in today’s digital world.
I would also advise to look at brands and influencers outside your industry and consider what attracts you to them. You can gain so much inspiration from looking across different markets and bringing something fresh to your industry!
Tip 4 - Consider Working With A Mentor:
Working with someone who has experience in helping people launch successful businesses is invaluable when starting out on your own journey as an entrepreneur. They can provide insight into potential challenges as well as offer strategies on how best to overcome them—this is especially beneficial if you have no prior experience in launching a business or if there are certain aspects that feel unclear or intimidating at first glance (e.g. strategy, marketing, finance).
If you would like an opportunity to chat with me about your business ideas, I love speaking to new people and providing tips and advice for your journey - book a complimentary Strategy Chat by clicking the button below.
Tip 5 – Keep It Quiet:
In the early stages of developing your business concept, keep it quiet! Avoid outside influence that could dilute your vision or distract from where you are heading with your venture—it can be hard not to talk about something as exciting as starting a business but staying focused is key if you want success!
People often have their own opinions, and ulterior motives - especially friends and family. They may care and love you, but unless they have credentials in business and the industry you’re looking at, I would always advise keeping it to yourself.
In summary…
Starting a business takes dedication and hard work but following these five tips can help make sure that yours gets off on the right foot! Remember: Journaling helps keep ideas organized; start simple; do research; consider working with a coach; and most importantly keep it quiet until everything is ready! With these tips under your belt, let's get started! Good luck!
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