If you’re launching a new business, you’re probably feeling scared and excited. The business world can be daunting at the best of times. When you’re starting out, cracking the code and creating a successful firm can seem like an impossible dream. But if you do the right research, and you have the right ideas, you will get there. Here are some top tips to help you get started and reduce stress levels.
Create a watertight business plan
If you’re looking for investors or potential partners or clients, it’s essential to have a sound and inspiring business plan. This document or presentation should sell your idea, service or product in the best way possible. Make sure you have all the facts and figures, and iron out any potential issues in the early stages. Be prepared for questions. Check that your model is watertight. Do some market research, and use the feedback to add to or adjust your plan.
Get your office space sorted
If you’re setting up a business from home, it’s wise to create an effective working environment. Turn a spare room into an office, or convert a vacant garage. If you’re hoping to rent or buy office space, have a look around and see what’s available. Think about the location and the transport links. If you’re planning to employ a large team, it’s important that people are able to get to work easily.
Once you’ve found a suitable premises, make sure that they are fit for purpose. Invest in high-quality equipment and technology to take your business forward. If the building needs doing up, consider options such as energy-saving lighting and cat5 wiring by firms like JNB.
Boost your profile and make a name for yourself
Even the best ideas in the world can go unnoticed if you don’t get them out there. Create a business profile, and get people talking. Use the latest marketing techniques to reach out to potential customers and generate interest in your product or service. Use social media, SMS marketing and print strategies to target a wider demographic. Order business cards and set up face to face meetings.
If you’re pitching to investors or clients, make sure that you rehearse beforehand. A good pitch can make the difference between success and failure. Speak confidently, and show you passionate you are about the product. Make sure you have figures to hand, and try and preempt questions. If you get asked a tough question, take your time. It’s better to take a moment to think and give a good answer, than saying whatever comes into your head first.
Use feedback from meetings and pitches to improve the way you work. Listen to what people have to say and address issues, which crop up on a regular basis. Be prepared to work hard in the early stages to build for the future.
If you’re setting up a new business, there’s a lot to think about. Try and be organized and draw up rough timescales and strategies. Perfect your pitch and ensure your business plan stands up to scrutiny. Put in the hours, and take comments from investors and potential customers on board. Good luck!