Many new business startups take their first steps at home. Often a new business can take over your spare bedroom very quickly. Once you are on the right track you’ll soon need some dedicated business space. But how do you make sure that your enterprise is a success from the start?
Whatever your business does, it should reflect your passion in life. If you are not into your business then you can’t expect others to be. Ideally, your passion will inspire others to get involved in your success. This will help attract clients, quality suppliers and even high calibre staff when the time comes to hire.
Find mentors and try to avoid one-off advisors for expertise in their particular fields.
When you are building something new, it’s invaluable to be able to ask someone who has been there and done it. This will help you to avoid some of the pitfalls.
Some customers will try to browbeat start ups because they think you’ll accept any work or price to get your turnover figures up. Steer clear of cheap clients like these because they end up being more trouble than they are worth. You need to keep your eye on the ball.
Who says you need to offer 28 days credit in business? Some businesses might expect it, but all will have pre-payment systems for certain purchases. If you can’t get paid upfront, make sure you are eagle eyed over your credit control.
Some startups hire the first person who happens to be around because they need to fill demand rapidly and it seems to be a convenient solution. However, once hired, staff are not easy to remove from post and it is costly if you go through a redundancy programme. Take your time to get the right people the first time.
Try to avoid cheques and BACs transactions that might come through in three working days or so. If you cannot take a debit card payment – most startups will need to pay a fee to their service provider to do so – then take cash which you know is instantly bankable.
As your business gains a reputation, you will want to seek out new possibilities and to discover what sort of opportunities might come your way.
Don’t expect these to fall into your lap, however. Make connections with other business people in your area and make contacts within your industry.
Working hard is what most entrepreneurs do, but remember that you work to live, too. Take time to exercise and relax or you’ll burn out too rapidly. Set yourself business goals but set rewards on the back of achieving them like taking a holiday.
You might be a whiz at administration or sorting out procedures that make your business more efficient than competitors, but you need to understand people, too. Managing your customers’ varying expectations means having empathy and a little comprehension of human psychology.
Get these things right and you should find that your business grows. As it does, you will need some flexible office space to be able to expand and to meet the needs of new clients. Across the country, Flexspace is the ideal place to turn for usable, flexible office space which comes at great rates. There are introductory offers for new business people where the first two to three months free on a 12-month contract can be cost free.