Uncommon Business Tips for Starting a Small Business
You’ve got a brilliant idea for a unique product or service, and you want to turn it into a career. You know about business plans, market research, and small business tax issues. Do you think you’re ready to start your own business? Consider these uncommon business tips before you begin.
Make Friends With Fear
Your great idea will be met with great excuses for why it will never happen. These excuses are just fear in disguise. Starting a business throws you into many anxiety-inducing activities like meeting new people, learning new skills, and taking on financial risk. Fear can either paralyze or motivate. Which will you choose? Fear is normal. Make friends with your fear, and keep working toward your goals.
It’s easy to get so caught up in planning your business that you forget to solicit the input of others who can help. Listen carefully and openly to everyone: friends and family, potential customers, community partners, and even competitors. Pay attention to their concerns and learn from their mistakes. Professional associations like SCORE provide mentoring and business tips to new entrepreneurs. Take advantage of as many of these opportunities as you can.
If you’re passionate about your product or service, then tell people about it. Whether it comes naturally to you or not, successful entrepreneurship requires self-promotion. Take advantage of networking opportunities, conventions, and conferences. If these kinds of opportunities are lacking in your area, organize them yourself.
The keyword here is “start.” It’s easy to spend so much time crafting a complex business plan that you never actually get off the ground. Keep things simple in the beginning, and focus on doing one thing better than everyone else. That way, growth happens organically in response to the needs of your customers. Premature plans for growth will likely need major editing anyway once they are met with real-world circumstances.
Keep Your Day Job
Starting a new business doesn’t mean you have to burn bridges with your old employer. A steady income can mitigate the financial risk of a new venture, getting you through those lean early stages until your business becomes profitable. If your business is in the same industry as your current job, you can leverage your professional relationships to help your new business succeed.
Whatever your dreams are for starting a new business, following these uncommon business tips can help you avoid potential pitfalls on your way to bringing that great idea to life. Go get started!