Every great business has to start somewhere, and every great business does have a story to tell. You’ll often find that some of the old school businesses that have been around for a while now, were family run to begin with, and eventually sold to big corporations for millions, who are now making millions off said business.
The trouble is, small family run companies just don’t have the manpower to do what the big companies do. They have the millions already, they have the knowledge, and they have the longevity. But that isn’t to say that the start of your wonderful business venture isn’t going to end up with your selling your business to the corporate slave chain.
Unless of course you wanted to, who could blame you if you were being offered millions and a free life at the end of it. But we’ve said that every great business has to start somewhere, but what are the starting blocks of such a thing? So many companies get the initial first few months wrong, and it’s one of the reasons why they never really make any worthwhile profit. By worthwhile, we mean profit that’s going to allow them to live a fab life, that revolves around business and fun. So, we want to try and make sure you get the start of a great business going, and that you also get your feet on the ground early enough, so that one day you could become one of these big corporations that’s then buying smaller businesses!
The Very First Step
The very first step is a few different steps moulded into one. Obviously, you have to have that killer idea, and you have to do plenty of research to make sure you can establish that nobody else is doing what you’re trying to do in the market. What will you most likely find?
That everyone is trying to do what you’re trying to do, you just have to do it bigger and better. So spend a lot of time finding out what every other company is missing, and how you can get to the point where you feel like your idea has more structure, and a better backbone than everyone else’s does.
The next step, is to head to the banks and to the business advisors, and sit through talk after talk. Don’t think that it’s going to be as easy as walking in there and they’ll accept, they banks will want to know about your idea, your projections, and how you’re going to make this dream come true. Business advisors can be there to help you decide if anything needs adding to the idea you have, or if something needs to be changed. Once both have accepted your idea, you’ll get a business start up loan.
Then, it’s on to the final, very first step, and that’s actually setting up your business. You will have to register yourself so that you can start paying all of the business taxes and expenses. You will need to get a really good web developer on hand to create you a top notch website, and a graphic designer to get you a memorable logo. All of the other little pieces in between this will fit into place, because we really could go on forever talking about the initial steps of setting up a business. But as long as you master the basics, and ensure you build a super strong brand right from the beginning, there’s no reason why you can’t go far!
A Big Second Step
This is just one single step, so don’t worry about being confused as to all of the parts of it. But once you have got all of the legalities, your ideas, and your business sorted in terms of knowing what your brand is, it’s time to sell. This is where people hit a big brick wall, because selling products isn’t going to come naturally if you haven’t done it before. But the key is, market the hell out of your business, both by using internet techniques, and getting your face out in the public.
It will be slow and steady to begin with, and you will be hit with so many different challenges that you’re just not used to. But each challenge is something you learn from, and the next time it happens, you know what to do about it. For example, you could have the issue of a customer complaining to you like no tomorrow, and it really will put you on edge and upset you! But as long as you apologise, offer them a refund, and tell them their next order can be discounted, you will be able to watch the situation diffuse in seconds. You might even get a sorry out of them after they realise how nice you were being!
Towing The Line
Towing the line means that you get to the point where you’re stable enough to actually relax, and get into the flow of your business. But as many will tell you, you’ll never be able to truly relax when you know that so much is riding on the idea that you’ve created. So, to make sure you’re towing the line properly, you have to go into a mode of micromanaging every single part of your business, checking for trends and patterns that you’re following.
If you get into the habit of constantly monitoring, you’ll be benefit massively when you notice something is wrong, and you’re able to deal with it super quick. If you want to know a great way of being able to track thing without getting it messed up, use technology. That are plenty of softwares out there that your business would benefit from, all of which would allow you to check for things like growth, profit losses, and anything else that you might need to look out for. But most of all, just make sure that you’re staying engaged with your business idea. Be sure to keep motivated, be involved in all areas your business, and always be pushing for growth!
Thanks for stopping by today.
*This is a collaborative post