Top Ways to Successfully Start a Small Business
Updated: Aug 16, 2019
Dream big, dream hard and make your dreams come true.
A great business always starts out as an idea. That idea turns in reality and your journey as a business owner begins. Below are some tip and tricks to guide you through your new small business adventure.
Find your niche
Do you have something you are truly passionate about, a talent that comes easy to you. Finding your niche isn’t always easy and it may take a few tries before you discover what your true passion is, but discovering what you love and creating it into a business is so rewarding. So find your niche. Find your passion.
Find a mentor
So you found your niche, now what to do. Best advice I can give is to find a mentor, find another similar business that inspires you. Ask if you can meet for a cup of coffee and pick their brain. The key is to make it your own, bring your special gifts and unique abilities to create your own unique brand. Anyone can copy another business and make money but if you really want to succeed you must be true to yourself and your goals. Be unique and don’t be afraid to be yourself.
Google is your best friend. It has everything you need to start your business. From videos to articles you can start to learn what you need to do to start your dream. Make sure you look at the good and the bad. Do you want to start a rental business? If so, are you willing to give up your weekends? Do you have the space or access to a space to hold your inventory? Maybe you want to start blogging, will you be committed to writing every week to have fresh new content. Do you have good writing skills? Do you know how to start a blog and manage a website? All these things take skills but skills can be acquired. The more research you do, the better prepared you will be to move forward. Lastly will you make money? Now if your just looking for a side gig to supplement your current income than this may not be as important as to you. This is where doing research comes in handy, finding out the potential earnings can give you an idea if your dream is worth pursing.
Before you jump in feet first, find out what you need to get started. Will you need to pay sales tax? How about hire a professional to write you up a contract to avoid litigation. Make sure to look into insurance requirements and if you plan to have employees, do you need workers compensation. Using a company like Legal Zoom can help you along the way and avoid any potential fines for not following laws and procedures.
You have done your research and found your niche. Now lets talk about money. How much do you need to invest to get started? If becoming a professional photographer is your dream then investing in a camera, some good software and starting a website/social media account is a good start. Investing in classes and seminars is another great way to learn your chosen field. Some businesses will obviously take more of an investment than others so looking into a loan for capital is a good start.
Now that you started your business your wondering how do I get more customers?
If your business is internet based then reaching out to other companies for collaborations can get you some traffic. If you have a storefront, reach out to other businesses to runs specials with. Go to vendor fairs, craft shows, farmers markets and make connections. Get the word out and find like mind individuals who have the same goals. This day and age no matter what type of business you have, growing a strong social media account can go a long way. This is another great way to network with other companies and get your name out there and build your brand.
Customer service can make or break your business. Making your customers feel like their special and number one on your list can help build your business and get you a good referral or review. Respond quickly, this is very important. People want to feel as if you care, as if they are your priority. Taking a few days to respond to an inquiry can lead to someone lose interest. If you have a storefront being available and having good business hours is the key. Even if it is inconvenient for you it will be convenient for your customers. Once you build your business and reach your sales goals then you can look into possibly hiring help to take some responsibilities of your plate to provide better customer service.
Now that you have map to follow, don’t be discouraged if you hit a dead end. You will always find another road to venture down. You may come to a fork in the road but there is no right or wrong direction. Just trust your going the right way and enjoy the adventure.