If you are planning a business start-up shortly, you have come to the right place, as we offer the entrepreneur a few great tips to help you navigate your way to success.
- Create a business plan – Some people mistakenly think that you only write a business plan when you want to attract investors, when in fact, your business plan should be your guideline for startup development. A comprehensive business plan includes an overview, a section on marketing, a detailed costing of the start-up, plus running costs, a list of company assets and forecasts for the first 3-5 years. A comprehensive business plan might be 20-35 pages in length and when you think your business plan is complete, ask a business coach to take a look.
- Invest in digital marketing – Don’t make the mistake of thinking you can get by without digital marketing; make contact with a leading agency that can help you to advertise on Google, as well as use other strategies to drive traffic to your website. Social media is a very powerful marketing platform that every business should explore and with the help of an award-winning digital marketing agency, you can explore the potential of social media marketing.
- Start-up funding – Even the best business idea requires adequate funding to turn it into reality; calculate how much money you need to launch the venture, then add 30% to cover unexpected expenses, which you will encounter. You would be shocked to learn that many small businesses fold within the first year due to a lack of money; if you are short of capital, consider taking out a business start-up loan from a leading online lender.
- Hiring people – It is never a good idea to hire the first candidate that applies for a position; we recommend using a leading HR agency to help you source the best people, especially for key positions. Your business is only as good as the employees you hire, so you should use a recruitment agency to help screen potential candidates. Here are a few finance tips to help you save for your retirement.
- Minimise risk to the business – As the business owner, it is your responsibility to minimise risk, which you can do by taking out the right insurance policies. If you need help with this, consult with an experienced business lawyer, who can advise you accordingly.
- Don’t forget branding – Talk to a leading digital marketing agency about brand awareness and let the experts do their thing; experts can create a brand that your customers will identify with. Start at the very outset and have a branding agency create a stunning logo that will help customers to identify with your brand.
- Be a great communicator – Running a successful business demands very effective communication; whether talking to a customer, employee or even a supplier, speak clearly and always be mindful of your tone.
While you might be working all hours, don’t forget to rest, which is vital for your health & well-being and we hope that your new venture enjoys sustained growth and success.