1. Have a simple enough idea instead of over-complicating
A lot of people struggle to come up with business ideas as they are looking for the “perfect one”. The thing is that, sadly, that is just another method of procrastinating. If you really have a genuinely good idea then it will be easy enough for you to plan out and easy for the client to understand. Don’t overcomplicate things in the beginning. You can always add new services and find new niches to expand. Gain your customer’s trust by doing one thing great and proving yourself.
Remember: Genius things are often simple. Don’t reinvent the wheel.
2. Plan ahead and go into detail.
As we see in every sphere, a lot of people think, that business is easy and goes head first. That is a good method to kick yourself to start at least something, but if you want to be good in the long run, consider that you need to plan your steps
Start with small things, like writing down places and ways to get clients. Plan out how many clients you can potentially book in the first week or month.
How are you going to log your sales and expenses?
Planning ahead also prepares you for things that might go wrong. Start with big blocks, like costs and time, and split them down into a lot more smaller points.
3. Choose the people around you wisely.
When speaking The people around you don’t only refer to the team, it refer also to your friends and acquaintances. When it comes to the team, you all have to have the same ideals and matching vision for the future, because otherwise, you will start to have larger and larger differences along the way.
For your core team, choose people with different competencies that complement your own, so you can all take responsibility for one part of the business. Concerning the other people around you, choose the ones that are positive and give you that extra motivation. There are a lot of people that would rather see you fail, than succeed.
Sometimes only a few people you choose can make the difference between success and failure.
4. Plan your budget.
Cash is king. If you can’t sustain your business, pay the salaries, or even keep your system running, you will not be able to achieve anything. Don’t overspend on needless things, like shiny offices or expensive merchandise in the beginning. There are a lot of things, that starting entrepreneurs can do by themselves, like build a landing page or cold call prospects. Hiring people straight away and going over your head can burn through your savings quicker than you think.
Remember, starting a business always takes more time and money than planned.
5. Put your customer first, but don’t chase everyone
A good and returning customer for a business is worth more than any other possible asset. Keep your clients happy, show them that you care. If your business is small then a small gift or even a card will serve not only as a nice gesture from you but will also remind them of your business.
If you run a larger business announce some discounts or giveaways. Don’t always only upsell, by showing people you care you have much more to gain in the long run.
However – avoid the time wasters. There are a lot of people who will ask 1000 questions even when they have no funds or intention to buy. Don’t be afraid to lose those people, this kind doesn’t bring any value to the business only struggle.
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Starting and running a business – Full Guide