If this is your first attempt at starting a business, you should seize every opportunity to bestow your new venture with the best chance of success. Use these top business advice and tips from Chris Salis to help your company succeed.
You don’t have to love your business (and probably should not), but you do have to be passionate about it. You will be investing a significant amount of time and energy in starting and growing a business, so it’s critical that you genuinely enjoy what you do, whether it’s running fishing charter schools, creating pottery, or providing financial advice.
Start While You’re Employed
How long can the majority of people go without money? Not for long. And it could be long before your new venture turns a profit. Being employed while starting a business means having money in your pocket during the startup period.
When starting a business, you need a support system (and afterward). A family member or friend on whom you can bounce ideas and who will sympathetically listen to the latest business startup crisis is priceless. Even better, find a mentor or apply for a business startup program if you qualify. Futurpreneur Canada, for example, provides financing, mentoring, and toolsets to entrepreneurs aged 18 to 39.
Please don’t put off getting these until you’ve officially launched your company because they’re essential to its survival. Perform networking, and make the necessary contacts. Sell or even give your products or services away. You can never begin marketing too soon.
Make a Business Plan
The main reason for developing a business plan first when considering starting a new business is that it can help you avoid investing time and money into a business that will fail.
Do Your Research
Writing a business plan will require extensive research, but that is only the beginning. When starting a business, you must become an expert in your field, products, and services. It is a good idea to join related industries or professional associations before starting your business.
Get Professional Help
However, just because you’re starting a business doesn’t require you to be an expert in everything. If you are not an accountant or bookkeeper, you should hire one (or both). Hire one if you need to draught a contract but aren’t a lawyer. Attempting to do things you aren’t qualified for will waste more time and possibly money in the long run.
Everything about you and how you conduct business should convey to others that you are a severe business specialist. That includes getting a business phone, professional business cards, and a business email address and treating people professionally and courteously.
Following the business tips above from Chris Salis will make starting a new business easier and less stressful, and it will help ensure that the company you start lasts and thrives.