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2020 has been a year of ups and downs and uncertainty. With 2021 approaching you might be considering a change of job altogether and taking the plunge to start a business of your own. Here are some tips to starting a small business:
Procrastination is the worst…’the time isn’t right’, ‘I need to do more research’, but unless you start, you will never know how it will be received. Without starting you will never know if changes are needed. No one company started with their ultimate finished product. Over time the product or service is refined, either through feedback from customers, or due to technology etc. You will always be refining your product as time goes on. So just start!
Whatever your business, make sure you are being a solution to a problem. Thinking like this will help you target and speak to your audience in a clear and relevant way. If you know you are solving a problem it will make it easier to place your brand as the problem solver.
Sometimes people can get carried away with their idea and immediately what to be a contender for the big companies within their market. If you can create something that is a good product or service stick with it, expansion and diversity will eventually come.
You need to make as many connections as possible when starting a small business, you never know who in your network will be able to help you with advice or support. Which in turn means you need to make sure you are talking about your company. Talk to people that are in the same position as you, people who have previously been in your position. Be a sponge and learn from everybody you speak to; family, friends, experts. Here is a directory of networking groups
Surround yourself with the right people. You need people that will draw the best out of you. Having the right support network in place is crucial, whether it be a friend, family member, your cofounder, mentor or even an employee. Having that cheerleader can mean the world of difference.
Many people talk about running yourself into the ground when starting a small business, but this doesn’t have to be the case. Remember to have a life outside of work. Only then will you feel refreshed and energised to give your company the attention it needs. You never know where new ideas might come from.
If you are considering starting up your own empire in 2021 we wish you all the luck.