Here are 8 steps to help you:
1: Act like an entrepreneur.
If you want to be a successful entrepreneur, you need to think and act like one. Hone the qualities and skills of someone ready to succeed. Mindset is everything. Despite its reputation as being a music channel, You Tube has a wealth of CEO interviews to inspire and motivate you.
2: Formulate a business plan.
You need a comprehensive and thorough business plan that will target all the points you need to consider before moving to the next phase. Beta testing is key for qualifying your idea. It’s important to remember that you will never be perfectly prepared for running your business because it is all new. Taking imperfect action will allow you to learn. Be prepared to learn from mistakes and reroute each time. This is a different way of working that feels totally counter intuitive but this is how all businesses start…when it is all new you need to learn from mistakes. Learning to get comfortable with failure is the critical learning stage in business. The only real failure is giving up….everything else is learning !
3: Put your plan together.
Make sure you have answered all your questions in your plan – What’s your target market? Who is your competition? What will your starting costs be? What is your projected revenue?
4: Protect your business.
Ensure you have the right insurances and licences in place. Its worth getting your contracts looked over by legal to ensure you are protected.
5: Build a strong team.
No business or business owner can succeed without the right people to support you. Going it alone in business? You can still call upon freelancers to help you and a good Accountant is worth their weight in gold! You can also use the support available here at Interbright Business which is run by experienced entrepreneurs who understand the business journey.
6: Market your business.
A good marketing plan is a must. Don’t rely on word of mouth. Interbright Business can help you with your marketing needs.
7: Know your numbers.
Don’t rely on Accountants to know what is happening with your business finances. Make sure you know exactly what is going in and going out each month. Interbright business has a free profit and loss spreadsheet to keep a close eye on your finances.
8: Learn, learn, learn.
Whether through online courses, podcasts, books, or fellow entrepreneurs, learning is ongoing when you are running your own business.