Six dos and don’ts of starting-up a business

posted by 3 weeks ago in Tips

The road to success can be a bumpy ride for many small business owners in their first year. Staying on top of branding, finance, staffing and customer satisfaction can be a tough balancing act. Here are some tips…

#1 Be realistic

Draw up a list of your strengths and weaknesses. It’s easy to bury your head in the sand but it won’t do you any favours in the long run. Face up to issues from the start and focus on letting your customers know what it is you do best.

#2 Be clear

If you can’t sum up what your business is about in one sentence, then how can you expect customers to engage with you? It’s a question you’ll be asked time and time again so be prepared to answer it by highlighting what you do best and why you stand out from the competition.

#3 Don’t lose sight of your vision

Your vision is critical to your success. It’s easy to get bogged down in day-to-day tasks, however this can cause you to lose focus on where you want your business to be heading.

#4 Value your customers

In your rush to attract new business it’s possible you may alienate loyal customers who’ve been with you from the start. Prioritise customer service and strive to keep standards consistent no matter how busy you might be.

#5 Do your research

From the beginning it’s a good idea to promote customer feedback so you can see how others view your business. Send feedback surveys, especially if customers have decided to leave. Don’t keep this information to yourself – make sure you share this information with employees.

#6 Timing is everything

Focus your efforts on where you can add value. Your time will be in demand especially in the first hectic year of business so spend your time on areas that will provide you with the highest measurable return.