Tips for Starting a Successful Small-Business
- Thread starter KatieC
- Start date
1. Have a plan. You don't have to write a fancy schmancy business plan, but you do have to have an idea of who, what, where, when and how. Who is your ideal customer? What is your product or service? What is the cost of your product or services to customers? What are your business values? Where will you find clients? Where will your business operate from? When will you work? How will you determine when you are succeeding or not? Go through the list and try to write out as many of those types of questions as you can, and then answer them. The clearer you can be about your business, its strategy, and its values, you will be better focused,
2. Get and stay organized. Organize all of your important documents, like incorporation documents, tax documents, procedural documents, etc. As much time as it takes in the beginning, it will save you loads of time down the road.
3. Know what you don't know. Just because you are running a small business doesn't mean you should run every single aspect of it. If you don't do business taxes, hire an accountant. If you aren't good at creating your webpage, hire someone to do it. You will avoid tons of stress and be better able to concentrate on making your actual business great.
4. Market, Market, Market. The customers won't magically come to you; you have to do *something* to seek them out. Different avenues work better for various businesses. Research marketing in your industry, create a basic marketing plan and hit and the ground running. After you implemented your strategy for a while, assess the good and bad and see if you need to change anything up.
5. Don't be scared to pivot. If something isn't working in your business, or if you find yourself going in a direction you never considered, let yourself be okay with changing direction in your business. Don't be scared to take risks, but also don't be scared to fail - that is how you learn and grow, and your business will do the same.
6. Don't let money be your guiding force. Whether you're making a lot of money or barely scraping by, don't let money be the sole factor in making decisions for your business. Feeling queasy about a client who is willing to pay you a lot of money - go with your gut, and you will probably be better off. Invest in yourself and your business wisely.
7. Network with other people. Not only is networking an excellent way for your business out in front of other people, but it is also a great way to meet other people. Don't go into a networking scenario with the thought of what you can get out of it, but more of what can you *give* to the people you meet. People will respond better when you come from a place of giving, and they will want to work with you, whether it be buying your product or service, helping you with an aspect of your business, or merely being a good support system for you. You may even find a mentor (which I also highly recommend)!
Those are some of the basics off of the top of my head. Hope this helps.
2. Get and stay organized. Organize all of your important documents, like incorporation documents, tax documents, procedural documents, etc. As much time as it takes in the beginning, it will save you loads of time down the road.
3. Know what you don't know. Just because you are running a small business doesn't mean you should run every single aspect of it. If you don't do business taxes, hire an accountant. If you aren't good at creating your webpage, hire someone to do it. You will avoid tons of stress and be better able to concentrate on making your actual business great.
4. Market, Market, Market. The customers won't magically come to you; you have to do *something* to seek them out. Different avenues work better for various businesses. Research marketing in your industry, create a basic marketing plan and hit and the ground running. After you implemented your strategy for a while, assess the good and bad and see if you need to change anything up.
5. Don't be scared to pivot. If something isn't working in your business, or if you find yourself going in a direction you never considered, let yourself be okay with changing direction in your business. Don't be scared to take risks, but also don't be scared to fail - that is how you learn and grow, and your business will do the same.
6. Don't let money be your guiding force. Whether you're making a lot of money or barely scraping by, don't let money be the sole factor in making decisions for your business. Feeling queasy about a client who is willing to pay you a lot of money - go with your gut, and you will probably be better off. Invest in yourself and your business wisely.
7. Network with other people. Not only is networking an excellent way for your business out in front of other people, but it is also a great way to meet other people. Don't go into a networking scenario with the thought of what you can get out of it, but more of what can you *give* to the people you meet. People will respond better when you come from a place of giving, and they will want to work with you, whether it be buying your product or service, helping you with an aspect of your business, or merely being a good support system for you. You may even find a mentor (which I also highly recommend)!
Those are some of the basics off of the top of my head. Hope this helps.
