Starting a new business can be daunting. Making that decision to go it alone and step away from a regular wage and security will be one of the bravest things you will do.
It can be tough, especially in this economic climate to get started with starting a new business, even more so in a market that may be highly competitive. But there are things you can do to make yourself stand out from the competition. The main thing to think about is what makes you different, what makes your business stand out?
What do you need to do to get started?
Have a Business Plan.
The most productive business owners have a business plan and stick to it. Before starting any business a concrete plan is essential. It will help you work towards targets and the sense of achievement when boxes are ticked off is extremely satisfying.
Start small, plan the first month, the first quarter, the first year. Then, once established, your five year plan will pull together with ease.
A business plan should consist of realistic financial forecasting. Consider looking into your competition. How does their business differ? What works for them?
Get a full picture of your business before you even start, the insights will be invaluable.
What makes you different?
What is your USP (Unique Selling Point)? What sets your business apart from your competitors. Once you've identified your target market and the demographic of your audience, you can start to understand their needs and how you fit into that.
How are you going to advertise?
Are you going to need a website? What is the best platform for you to use to do that? Your website is your portfolio. Are you going to use social media? Do your target market use social media? If so which platforms? Once you've identified these areas, you are ready to start selling!
Be authentic.
When starting a new business, the main thing to bear in mind is to stay true to yourself. You're the one with the idea so YOU are the person that can make this work. Try not to get caught up in the excitement and keep your business head on.
People buy from people, so be you and you are good to go!
The team at Foxland Financial have helped many start up businesses over the years. If you're looking for help with Business Plans, financial forecasting, funding applications, or anything else in between, don't hesitate to get it touch.