What does it take to call yourself an entrepreneur? One business? Two businesses? Who knows, but one thing is certainly not up for debate; 2014 is the year for getting new projects off the ground, and so you need to move fast to capitalise on the state of the global economy. We’ve been experiencing a pretty poor financial outlook since the crash of 2008, but over the last twelve months things have started to look more promising, which is why millions of individuals and businesses are now willing to get their wallets out and spend more enthusiastically. So, starting a new company right now could let you ride the wave and attract customers and clients with the greatest of ease. Just remember, nobody knows how long this situation will last, so time is most definitely of the essence.
Considering all the points I’ve just made; this post will provide you with a number of tips designed to make your lives easier during the early stages of your new firm. They’ve been created with entrepreneurs in mind, and so regardless of which industry you wish to enter, and which marketplace you intend to trade within, the ideas listed here should give you the headstart needed to blow all those competitors out of the water. At the end of the day, this endeavour is never going to be easy, and your success will rest on your ability to work through any issues presented in a fast and savvy manner. You’ll also need lots of motivation, but if you’ve read this far, you’ve probably already got it.
Tip #1: Put A Strong Support System In Place
Whether it’s your family and friends or a team of reliable and dedicated workers, it’s vital all entrepreneurs starting a business this year have an adequate support system in place. Unfortunately, it’s simply impossible for you to do everything on your own, and so you need lots of people around you who are capable of taking the burden from time to time. Don’t get me wrong, they probably won’t attend to your beckon call at 3am when you realise you’ve messed up something on your accounts, but when the search for potential clients starts to stress you out, it’s good to have someone there with a nice cup of tea to talk through the issue.
Tip #2: Prepare For The Worst
With the kind of attitude and motivation you have towards this business idea; the chances of you failing altogether are pretty slim, but that doesn’t mean you should put all your eggs in one basket. You need a contingency plan for absolutely every endeavor you become involved with. This is the smartest and safest way of covering yourself in case something goes wrong. Also, you’ll want to protect any team members you may have employed, and so they need well worked-out, professional contracts that you will have to obtain from an expert solicitor. Don’t worry too much if this is all new to you, as you can find lots more info on this site.
Tip #3: Have Passion For What You’re Doing
A lot of people think that businesses are just about making money, but this couldn’t be further from the truth. There’s no point building a successful company in which you have absolutely no interest, as the chances of you coming up with innovative ideas to deal with growth and progression are pretty slim. You need to be excited about whatever you decide to do, so just pick an industry and a concept you find fascinating. This is the best way of ensuring you always have passion for what you’re doing, and it should also mean other people will see how motivated you are.
Tip #4: Find The Best Employees
Your team will play one of the biggest roles in your eventual prosperity, and so you need to choose them wisely. Try to avoid using any job sites run by the government, as all people in receipt of benefits are forced to apply for positions advertised via this means. This is pointless, as many unsuitable people will apply. Instead, look online to see if you can find any specialist job boards for the industry you’re working within. After accepting around 50 or 60 applications, simply remove the vacancy and come up with a clever interview technique to determine which is the perfect candidate.
Tip #5: Take Full Advantage Of Social Media And Online Advertising
Thanks to the birth of the internet, the way you advertise and promote any new businesses has changed considerably. Whilst firms with a primarily local customer base may find the newspapers a good place for ads, the vast majority of companies will have more success online. Firstly, ensure you’ve set up a variety of social media accounts that tell the world about what you do, and then look at both Facebook and Google Adwords for the best results. You might need to read a little about these services to guarantee you get the targeting right, but that shouldn’t take too long, and it’s all pretty basic anyway.
Tip #6: Set Lots Of Goals, But Don’t Be Unrealistic
You should be pretty familiar with setting goals as an entrepreneur, so I won’t patronise you with methods and techniques for reaching them. However, before even opening your new business for the first time, you’ll want to create a list of realistic ambitions your firm can strive towards. These should be achievable, but not easy. Perhaps your first milestone is to take around £5,000 per month in turn over, or you aim to score at least one new client every single day.
Tip #7: Jump In Headfirst
No matter how long you wait, the time is never going to feel right, and so you should probably just throw yourself in the pile and hope you come out smelling of roses. Obviously, you need to give some serious thought to preparation etc, but at the end of the day, sometimes you have to test the waters to find out exactly what temperature they are. Try not to waste too much cash on a bad idea, but so long as you’re 90% sure it will work, I say go for it.
After hearing those tips, the odds of you making basic mistakes are now all but eliminated. As I’m sure you already realise, the business world if fraught with danger and risk, but it’s usually those who’re best prepared, and who have the right outlook that prevail.
Keep your chin up, this could be the big one.