Have you always wanted to run your own business but not sure where to start? Here are some tips on how to make a go of being your own boss.
Build a business on your passion
If you are lucky enough to base a business on something you love it won’t feel so much like work! This can give you motivation when times are tough.
Have a business plan
Fail to plan, plan to fail as the saying goes! A clear, focussed business plan will keep you on track. It can also be useful to show to any potential investors. However, don’t have a plan that is too set in stone. You may have to adapt as your business moves forward.
Find a business partner
Running your own business carries a lot of responsibility. Finding a business partner who shares your goals, but who has a different skill set that compliments your own, can help you succeed.
Find your niche
For your business to work you need to find a gap in the market you can exploit. What can you do that no one else is doing? Find your niche and position yourself strongly within it.
Take one step at a time
Test your idea on the market and build slowly. Don’t try to run before you can walk. It’s important to ensure your branding is consistent when building up your business. Stay in control of every decision at the start so you can keep things on track.
Get the word out
Make sure you let everyone know you are there! Use social media and trade directories like this one to let the world know about your business. Ask your customers to spread the word. Word of mouth recommendations are vital to a company’s success.
Listen to your customers
Always consider customer feedback and act on it when you can. Find out what matters most to your customers and keep this at the forefront of your mind when you are planning for the future. Never lose sight of the customer.
Develop good relationships with suppliers
Having a network of suppliers, you can trust, especially if you have tight deadlines to meet, can be very important. Reliable suppliers are fundamental to any business.
Don’t give up!
Be prepared to keep adapting and changing with your circumstances. Things will not always go to plan. You must roll with the punches and learn from your mistakes. There will be lots of ups and downs, but the process of learning should result in a better product or service. Keep learning and changing and never lose sight of why you started your business.
Small Business
