Posted on February 24 2016
Thinking of going solo? If you are starting your own business today, you have the advantage of being able to learn from those who have gone before and enable you to make even more money online now. It’s no secret that in order to grow your business, you have to take thoughtful, consistent action. Business success doesn’t happen overnight and there are many, many roads to get there. Success in business requires focus, discipline and perseverance – there is never ‘the perfect time’ especially online.
“If you have an idea and you have the research to back it up there really is no time like the present to start up a business.”
Here are TEYBoutique's Top Ten Rules for Business Success
1. What do you love? – “do what you love and you’ll never work a day in your life”
It’s that easy! What subject area can you talk about, watch or never bore off. You’re going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it’s really important that you truly deeply enjoy what you do, whether it be running restaurant, creating technology or providing financial advice.
2. Create A Powerful Vision
Why are you in business in the first place? What’s the inspirational dream that convinced you to go out on your own? There may be times when you doubt yourself, but if your vision is strong, it will be the thing that sees you through those times.
3. Plan, Plan, Plan and Plan more…
An active business and marketing plan will be your greatest asset at this early stage in you having your own business. This is because it will keep you focused as you formulate your business and marketing plan. After all you cannot and should not go blindly into any market without a clear plan as to what you are going to offer and what you are going to do with that market. Without a plan it will avoid sinking your time and money into starting a business that will not succeed as it will be a sure recipe for disaster. Your disaster!
4. Money Money Money – the main purpose your business has is to make money!
Many people have various beliefs about money but it’s your social responsibility to make as much money as possible. This means the more you make the more you can re-invest by purchasing more products, hire more people, etc. Beyond profit in a business, cash flow is king. For startups, establishing cash flow as quickly as possible is vital to keeping your operations going through your critical first year and beyond. Create clear financial goals, a strong pricing model, a robust payment process and measurements systems that will lead to larger profits, increased cash flow and a healthier, more successful business over time.
5. Create a “Customer First” attitude from every part of the business
Don’t wait until you’ve officially started your business to line these up, as without customers you haven’t got a business, and by customers, I mean people who spend money. Look after your client list. Create a good database of customers and prospects. Your database is a precious resource, so ensure you look after it through regular email and telephone contact with clients, former clients and prospective clients. Let them know you’re thinking of them.
6. Keep your job – Start your business plan before you start your business
How long can most people live without money? Not long. And it may be a long time before your new business actually makes any profits. Being employed while you’re starting a business means money in your pocket while you’re going through the starting a business process. It will also allow you to the space to create a strong business and security to make the right decision.
7. Surround yourself with successful people – Don’t do it alone. When you’re starting business experienced guidance is the best support system of all. You need a support system while you’re starting a business (and afterwards). A family member or friend that you can bounce ideas off and who will listen sympathetically to the latest business start up crisis is invaluable. Surround yourself with successful people who will motivate, support, challenge and encourage you – as their attitude to success does rub off.
8. Hire the best team you can – It will actually save you money
Just because you’re starting a business, doesn’t mean you have to be an expert on everything. Successful business owners know what their skills are. They also know exactly what skills they don’t (and probably will never) have. Believe me, you are not ‘saving money’ by doing it all yourself, you are wasting time. Outsource those things that aren’t your specialty, and use that time to go and get some new business!
9. Save Time and Money – Create professional business processes
from day one
Everything about you and the way you do business needs to let people know that you are a professional running a serious business. Establishing key process or systems from day one will ensure your success, professionalism and you as someone customers can trust to deliver. Random actions get random results. Taking a “shot in the dark” approach where you try an approach hoping it will work without thinking it through from beginning to end result is like playing darts while wearing a blindfold.
10. Finally – Be Realistic Have Belief– Give yourself the chance to succeed
Give yourself time to build up your business and don’t expect to get rich overnight. Knowing it’s likely to take a long time keeps you at a realistic level. The vast majority of people overestimate what they can achieve in a year, and massively underestimate what they can achieve in a decade. Just make sure you celebrate the small victories along the way to keep yourself motivated. Every successful business is built one step at a time, give yourself time to learn, to enjoy the experience and build a strong company. Self-belief is an entrepreneur’s most precious commodity. If you don’t believe in yourself, then you can’t expect customers to.
Following the advice on starting a business above will make starting a business both a smoother, less stressful process and go a long way towards ensuring the business you start lasts and thrives.
You’re the driving force behind your life and your business, so making sure that you’re in the right place and fully prepared for starting a successful business can make all the difference.
If you really want to get your business of to the best start, partner withTEYBoutique.com and get your products online with their results driven marketing, secure eCommerce technology and have your store up and running in three simple steps.