Start-ups are springing up across the UK all the time, with little knowledge and support. Because of this, it is important for them to have guidance before and during their adventure.
Not knowing who you are
Before starting a business, you need to know what your business is going to be, and what it is going to represent, you also need to know where your business is going to be, are you going to be online or are you going to have a store as well?
With all this in mind, you must also be aware of all the expenses that come with starting a business. Do you have enough to get to where you want to be? Will you need to access funding from elsewhere? Are you able to support staff as soon as you open?
Once you have begun, you need to know what services you are going to offer. Many business owners start their companies with no clarity or ideas of what services they are going to offer. If you don’t have a firm idea of this, then how can you expect your customers or clients to buy into your vision?
Being unaware of who you are selling to
Every business has a target market – an audience who is specific to them. Regardless of what you sell you aren’t going to be for everyone so it is important to find out who you are selling to before you begin trying to sell to everyone which could damage the brand’s name before it has even begun.
If you are able to find your target audience then your marketing strategy will become a lot clearer and easier to do and manage because you will know who you are targeting specifically and what they want from your business, whether that is a service or a product.
Selling to people you should only be ‘connecting’ with
Not everyone you meet is going to be a customer, so always bare that in mind as it can be massively off-putting for other brands who are trying to connect with you on a commercial side rather than a consumer/retail side. If you are unsure what they want then the best thing to do is pitch subtly, this means you need to balance the conversation, try not to over talk and always allow the other party to get as much in as they can – this will help you come to a conclusion of what they want from you.
You never know, they might just want you to move out the way, ten minutes later after pitching and you have either sold or annoyed them incredibly. Be careful!
Not having faith in yourself or your business
If you have no faith in yourself as an entrepreneur or a start-up then how can you expect your customers, partners, and suppliers too? Ask yourself this – would you purchase something off someone who does not believe in what they have created?
Failing to take care of yourself
As an entrepreneur, you are expected to do everything at first, which at the time seems normal but in order to stay healthy you need to keep a balance between work life and home life. Although starting a business can quickly become like looking after a baby, you must not lose your personal life – this includes social time which covers holidays, social/family time and just generally relaxing. You must look after yourself so you can become a healthy and successful entrepreneur.