Entrepreneur Resources Your source for small business information
If you are looking to start your own business, then it may be the case that the journey starts with you looking for advice. Every business is, of course, different and some of the advice you’ll need will be very specific to the area you intend to join, however, there are some things that apply to all. It is with this in mind that we offer 10 top tips for all entrepreneurs and startups.
- Act Don’t Procrastinate
Lots of people talk the talk, they have ideas and dreams about starting their own business, but then never do. Our first tip is to act, don’t procrastinate. Being proactive and actually taking action is what sets aside those who have the potential to do really well in business and those who don’t.
- Be a Sponge
Reading around what is relevant to your business, talking and listening to others will give you the ammunition you need to succeed. Experts rarely struggle to make money and so empower yourself by finding out what works, what doesn’t and perhaps most importantly what works best.
- Look for Solutions
This is applicable at every stage of building a business. Instead of looking for a product, for example, look for a problem that needs a solution. And once you are up and running, if you run into difficulties, fulfillment for instance, get a company like Whistl to step in.
- Don’t be Precious or Overcomplicate Things
Focus on keeping things simple, especially to begin with and don’t let your ego take over. This isn’t personal, it’s business.
- Do the Sums
All businesses are about numbers and the sooner you recognise that fact the better. Keeping track of costs, margins, profits is paramount if you are to keep the business afloat, scale and develop it.
- Don’t Give up Your Day Job
Continuing to work for someone else whilst you set up your own business will allow you to build your startup in stages. This can help ensure that you don’t rush, make mistakes and experience stress.
- Shout About it
Take every opportunity to self-promote your business and let everyone know that it is out there. Shout about it online, at meet ups, conferences and social events – you never know who is listening.
- Tackle the Legals
Having a thorough understanding of factors such as tax liabilities and other legal requirements from the outset is vital. This requires regular attention if you aren’t to be caught out further down the line.
- Admit Mistakes
All entrepreneurs make mistakes and it is the ones who acknowledge them, fix them and move on who are the most successful.
- Enjoy Yourself
You must of course work hard, but it is also important to celebrate triumphs and to enjoy yourself. Those who can relax and enjoy the journey are far more likely to reach their intended destination.
