Taking a chance with launching a start-up business is exciting and terrifying all at the same time. Here we look at 5 key tips and considerations to help you with launching your new business.
- Don’t be afraid to fail
Failure is all part and parcel of any learning experience and there aren’t many bigger than starting your new business. Accept that things won’t always go to plan and ensure you learn from your mistakes and build from it.
- Who are you and what are you doing?
It’s critical that you have a clearly documented business model, concept and mission statement. Establish your elevator pitch (a succinct and persuasive sales pitch) so you can easily get across what your company does which for both feedback and a free form of marketing through word of mouth.
- Employ a lean approach
Looking for ways to save money is crucial in a successful start up. Take on as much of the work yourself as possible and for areas you are not skilled in either get training, teach yourself or outsource them through services such as eLance and Fivver.
- Drive with passion
If you develop an idea and business with passion those hard days in the office will cease to be an issue. When you enjoy what you do and believe in it, it no longer becomes ‘work’.
- Listen and learn
You will never have all of the answers. Take on the feedback from everyone you speak to about your idea. Don’t become defensive if someone is critical; listen to why they see it that way and look at what you can change to get them on your side. If they feel this way, you’re almost certain one of your potential customers will too.
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