5 Tips I Wish I Knew Before Starting My Business

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I remember at the very beginning of my entrepreneurial career I was wondering how to start and what steps I need to take to kickstart my business. My niche has always been software development and WordPress – although I had a lot of skills and knowledge in this field, I found I needed to improve my business education.

Now, after six years of business ownership, I’ve decided it’s time to share some useful tips on starting a small to medium sized business. I hope this enlightens the path of an aspiring entrepreneur and makes the whole process of running a business smoother and less turbulent.

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Starting a business can be a lot harder than you think

Once we feel confident enough in our abilities and expertise in a particular business niche, it’s normal for business planning to kick in:

  • What if I manage to deliver dazzling services and products for the customers?
  • What if I manage to start a business that quickly makes a name for itself in the industry?
  • Exactly how hard can it be?

These are all common questions that the majority of aspiring entrepreneurs ask themselves at the very beginning of their exciting yet challenging business journey. It’s not my job here to discourage you by saying that owning a business is difficult – quite the opposite. The tricky part of the process makes it even more tempting and worth your time and energy. It comes down to having the right mindset and a good plan to begin with.

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We must remember that sometimes the excitement can cloud our judgment for a moment and cause us to underestimate the business formation process. And while I believe that the trial and error approach is very valuable as we learn from our mistakes, I also think that if we use the Keeping Basics in Mind.

I often hear a rather peculiar misconception: It’s easier to run a small business than a big one. But that is not the case.

A company is a company regardless of how its employees or subdivisions count. There would still be clients, interviews, projects, finding the perfect leadership style, meetings, workshops, workload distribution, etc. My advice would be not to fall victim to the idea that running a small business doesn’t require a lot of work – it does, and most of the time does even more.

So without further ado, let’s discuss five smart business tips that would help you launch your business successfully.

See also: 15 Business Tips Every Entrepreneur Should Know

1. First compose your name, purpose and mission

First, come up with a great business identity. You want to work on brand credibility right from the start – this is important so that customers soon directly associate your company with professionalism and success.

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But to do that, you need to be very clear about what your company stands for. So take a moment (or months) and develop a detailed vision of your future business. Does the name tell the potential customer what this company is about? Or is it short, concise and easy to remember? What would be your company’s message to people? Have you thought of a logo? How would you convey your brand identity to your potential customers?

These are all questions that you absolutely must find an answer to before starting your business. It’s called business strategy.

2. Think ahead about your digital presence

Almost every business is online these days. Don’t miss your chance to get all those likes, shares and mentions. Also, most customers these days look for a business online first – buy a domain, find an expert to build your website, and hire marketers to come up with a great social media plan.

3. Be mindful of your initial investments

Don’t forget that any business always requires investments: money, effort and energy. When we refer to the financial aspect, it’s important that you prepare in advance – do some thorough research so you know how much money you need, at least at the beginning.

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4. Avoid hiring anyone

Many aspiring entrepreneurs fall into the trap of initially putting up with unskilled employees in hopes of finding experts later. I suppose this is quite the wrong approach to doing business – your business needs professionals from the start. Make sure you crank it up with a scintillating team of people who know what they’re doing.

5. Know your competitors and be consistent

Unless you come up with a really unusual business idea, chances are your niche is pretty crowded. For your business to be successful, it must offer uniqueness to its customers. The way to do this is to study and research the competitors.

Find something that outlines your business and makes it stand out. Consistency also equals credibility – avoid frequently changing your brand’s tone, logo, mission statement and overall online presence.

See also: 50 tips for starting your own business

The final result

Either way, starting a business is a challenging but exciting endeavor. But don’t let that scare you. With the right planning and an excellent entrepreneurial mindset, anyone can skyrocket a business.

I believe the above steps will surely help you. Good luck and keep it up – the business world is waiting for your ideas.

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