If you want the easy path to success DO NOT start your own business.
Being a successful business owner is a twisty turny one for sure with lots of lows and hopefully lots of highs. One thing is guaranteed though is you will face hurdles along the way and that is normal everyone does (even those people with laptops on the beech sipping champagne) The great news is though every problem will have one or multiple solutions to being solved .
Owning a business is alot of work and yet it’s one of the most gratifying things you can ever do. Let’s take a quick look at some of the things you may encounter and how you can prevent or deal with them.
1. No Plan = No Focus
A plan is absolutely critical to any success be it you are a startup business or an established business. A business plan is not just a process to get a loan from the bank (which you probably won’t get anyway) but it’s your vision, your route to success as you see it right here and now.
Sitting down regularly and going through your plan, making slight course adjustments as you go keeps you focussed and helps you monitor your progress. If plans are something you think are scary then think again, remember a business plan is only 1 type of plan you should have for your business, sales and marketing is another critical one.,
The key point here is as the saying goes ‘fail to plan and you plan to fail’ and this is sooo true
You can build a business all you want but if no one knows about it, you’re not going to get very far. Developing a marketing strategy or plan is a must. You need to cover all angles when it comes to marketing. That includes both online marketing and offline marketing.
Whether you love it or hate it, social media is a must in today’s business world, so learn how to run your social media accounts from the beginning. However, you shouldn’t get so wrapped up in social media that you disregard conventional marketing means such as networking and face to face.
Remember a business website is where alot of the magic can happen for you as a business and nowadays building a site isn’t as daunting as it once was. You can gain massive trust from your own site much more effectively and build that all important following of potential clients.
3. Keeping Your Finances in Order
This is without a doubt one of the most common problems small businesses face. You need to keep an eye on your finances or else you could go broke very quickly. As your business gets busier if you don’t keep on top of the paperwork and the financials it becomes a monster that gets out of control very quickly leading to anxiety and all sorts.
Also by keeping your eye on your finances, you have a good idea of how well the business is doing, how do you know if this month is up on last month if you don’t know what you took last month. Keeping a watch on those outstanding invoices and those bills flowing in will stop you having a cashflow crisis
There are many small business accounting packages out there now so keeping your books digitally should be a breeze, remember if you are not trained in accounts an accountant will save you a bundle, if they are not then change them but working with a good accountant turns them from being a ‘cost’ to the business to being an ‘asset’
4. Getting Customers and Keeping Them
Everyone knows that the most important part of building a business is finding loyal customers to keep you afloat. While a lot of building your customer base relies on a good marketing strategy, keeping them will depend on how good your customer service is.
Always make yourself approachable and do your best to create a personal relationship with your customers. Developing a personal relationship builds trust, trust builds loyalty, and loyalty is what your business will be built on.
5. Putting Together the Right Team
You can’t build a business alone, to launch and build a business you will certainly need help in some form or another.
Outsourcing to contractors or associates is a great way of building your business without the worry of hiring staff which in its early stages may frighten you or may just be a responsibility you are not ready to take on. Alot of the time outsourcing makes sense and to protect you there are companies out there which can put your mind at rest
Finding partners as in referral partners is another great way of building your team without having to employ. Of course, it takes time to build up a great bunch of referral partners but when you do it feels like you have a whole marketing team out there supporting you and your business.
Make sure to partner with people you can get along with who are equally as motivated as yourself. People may not come to you so don’t be afraid to go searching for them. A good team will build your business – you just have to build the team first.
Being in business may be scary but there’s no reason to panic. You can overcome any obstacle and build your business into a reputable company if you follow these guidelines. Remember there is always support out there that may just be the right fit for what you are looking for