Know your market
Regardless of what your passions or hobbies might be, remember that it is a buyer’s market. It is only worth selling something if you know people want to buy it and although this might mean travelling down a well-worn path, your business will be much safer for it.
If in doubt, carry out market research on opinions surrounding your considered products; it could save you a lot of money and time in the long run.
Consider your overheads
Cash flow is always an issue with a small emerging business but you can reduce your operating costs from day one. Do you need a great big office straight away? Could the money spent renting the space be put to better use? These are all questions you need to ask yourself before parting with any money.
Think about the small things too. Get the best deals you can on office equipment by scouring the local free ads for used bargains and before settling on an internet broadband provider visit a comparison website to look at the differences in both price and performance.
Don’t get carried away with ‘branding’. Building a brand is what you do whilst the business operates so concentrate on the sort of marketing that will get customers through your door or ordering your services.
By concentrating on sales from day one you will not just be bringing in money but hopefully building a positive reputation – the foundation of any successful brand.
Always keep your message simple and uncomplicated. The same should be applied to your website. A company website is a window into the soul of an organisation so make sure that it is tidy, effective, informative, helpful and engages visitors. Web design from Itineris can achieve all those things and.
Learn to adapt
Sometimes being stubborn is seen as a positive trait with someone ‘sticking to their guns’ sounding very Clint Eastwood. The truth is that stubbornness often goes hand in hand with an inability to learn and this can be detrimental for a business.
Learn to accept that if something does not work for whatever reason then it is not worth repeating. Analysis might help you determine why the failure occurred and from that you can build an effective solution that prevents history repeating itself.