We usually start a business because there is something we’re good at, and we know we can earn money doing it. And why work for someone else when you can run your own jobs doing plumbing and heating, you make the finest wedding cakes or create beautiful artworks. Why not be the boss? Take staff on and then take time off when you want. Yes, reap the rewards for your hard work?
These are the thoughts we have when we think to make the break and head out on our own. Perhaps you’ve seen other people that have become successful and you know you can do just as well, or even better!
Getting your new business going
So you finally got things going and well done you! You’re producing a great product or service, your customers like you. Of course they do, you’re giving it your all. But hold on, there’s all this “other” stuff that needs taking care of. Suddenly you’re finding that you’re the one in charge of the accounts, operations, HR, marketing and sales. Then, all too often you can find:
- You’re working a long week, you live and breathe your business. In fact you rarely think of anything else. It’s all encompassing because it needs your attention all of the time.
- Perhaps you don’t feel that your business can operate without you.
- Take a day off! You’re joking right? Everything will grind to a halt.
- Perhaps you have to check your phone every 30 seconds because something may need your attention.
- You may find that you’re living hand to mouth in the business & you’re hoping that next month you’ll be able to meet your bills
- Maybe you are scared to expand as you aren’t sure of what lay ahead.
If one or more of the above applies to you, you’re not alone. Hey, do you think you’re the first?
Getting it right, from the start
This is where planning really counts when you start a business. Did you know that it doesn’t have to be like that? Now think of how it could be:
- Enjoy taking time off knowing the business can still run effectively
- Even if you don’t check your phone, it’s all getting done. You got this!
- You can have the confidence to know what’s happening six months down the line
- Feel comfortable, have some money in the bank (personal and business) knowing you can meet your bills
When your foundations are sound, you can have it all. It’s all about getting your business structure right, so that all elements fall into place. You’ll find that with the right planning, not only will you find the business easier on yourself, but you’ll be able to expand so much easier. You’ll be able to enjoy all those benefits you started the business for in the first place.
So now that you know what you could have, we’re going to tell you how to get it.
The top 5 things you need to do when you start a business
Vision and Mission Statement
Vision Statement – This is your larger goal, the ultimate goal that your business will obtain in the longer term.
Mission Statement – This is how you will achieve the vision you have outlined. The roadmap if you will.
You would be surprised how many people don’t do this. They don’t have a goal. If you don’t have that, how can you plan how to get there? This small piece of homework really doesn’t take much work, but it shapes your entire business future.
Understand your strength, skills and time available.
There are a lot of facets to understand when you start a business, you’re good at what you do, but you also need to be able to control the other elements. Understand what you can do yourself and what you need help with. This can ensure you have all strengths in the business covered.
Surround yourself with advisors and mentors.
This is very important. There are people with the skills and experience who can help you avoid expensive and time consuming mistakes. Getting the right advice and help will help your company to steam forward. This is where Cygnets can support you, right from the start, checking progress with you and guiding you through.
Write your business plan
As they say, failing to plan is planning to fail. Lack of a business plan is probably the downfall of most businesses. The business plan looks at the main areas of business being:
Finance – The money side of things
Operations – The production of your product or service
HR – The people/staff in the organisation)
Sales and Marketing – Getting your product or service in front of prospective buyers, then selling it to them
Understand your market
Get to know who your customer is, what they need and how you can provide it for them. Where do they hang out and how can you speak to them? Can you supply them with more than your initial offering? (upsells). Keeping your customers happy and selling to them again is so much easier than finding new customers.
Now get that business start up really firing
Now it’s time to get your start up business working for you. It’s all about planning, planning, planning! Cygnets is a programme for new start-ups, providing support to help you grow on strong foundations. So give us a call today or contact us to get the help you need to get on the right track. Make your business a success, starting today!