4 Small Business Tips For New Entrepreneurs

Starting a business is one of the most intimidating and demanding projects for any prospective or seasoned entrepreneur. Coming up with a feasible business idea is just the start; turning this idea into a reality and successfully acquiring customers to pay for your product or service in such a way that it is sustainable and profitable for you is quite another challenge altogether. 

For many, the hurdles in starting a business are just too much. For the few who do pursue their dreams, the secret is to have a strong and focused strategy and to continuously strive to accomplish it.

Fortunately, we live at a time where there is a wealth of valuable free materials and resources out there that can help guide you on this journey in the form of YouTube videos, online seminars, and blogs to name a few. 

As an example, the Jobber Academy has published a wealth of online materials to support small businesses in the field service sector specifically, with information on how to start a cleaning business amongst many others.  

Below are some of the most effective tips to remember and consider as a new business entrepreneur:

  • Take small steps at a time

In every plan you make, remember that Rome wasn’t built in a day. All those huge brands and companies you see today were once just mere ideas in the founders’ heads. The fact that you’ve already thought of a problem and how to solve it means you’re one step closer to making your dream a reality.  

Many people get caught up in the excitement of the moment and find themselves making rushed decisions which isn’t always a good thing. There are many challenges to overcome when you first establish a business. It can be up and running in just a few weeks, or it can take months before you start to get a trickle of customers. In other instances, it might start well, then fizzle out over time.  

So, as you step into the world of an entrepreneur, it’s important to remember that all the results mentioned above are possibilities. Therefore, take your time building, planning and organising the foundations. Calculate your numbers correctly and make informed decisions. (1) 

  • Leverage the power of technology

Setting up a business today can be considered easier now than it was even a few years ago, considering the resources at your disposal. Contrary to this, there is so much more competition. As such, it’s important to be mindful to utilise technology to your benefit so that you place yourself in a position to compete in the marketplace. 

Social media is one of those tools you might want to prioritise. These platforms can be very useful to grow a brand and build awareness. Depending what business you run, you may also want to invest in good business management software to ensure your internal operations and systems are organised, streamlined and efficient. For those operating in the field service sector, Jobber is a great example of smart technology that can help you achieve exactly this and in the process facilitate you in delivering a top-notch customer service.

  • Don’t quit your day job

Even if your business picks up from the first day, don’t quit your day job, at least not yet. Since this is a new enterprise, anything could go wrong, and you’ll be back to the drawing board. If you find yourself in such an unfortunate situation, you’ll want to have something to fall back on. Therefore, having your current salary still intact will be a big help.

Another reason why you shouldn’t quit your job is to avoid being over-reliant on this small business. If it becomes your only source of income, you might come out as too desperate when trying to convince customers. There’s nothing more terrifying to a prospective client than a desperate business owner. Your reputation can be broken, and you’ll have a steeper hill to climb, which can easily demotivate you. 

  • Keep networking

Every successful entrepreneur has a network of people who share ideas and goals. Connect with fellow business owners and investors. According to research, at least 78% of start-up owners believe that business networking is vital for their success. This is a claim that’s been supported by a number of business experts. (2)  

So, how do you build and sustain business networks? One of the easiest but most effective ways of networking is by attending business seminars and conferences. You can also join informal groups and forums to start linking up with likeminded people. Social media is another platform for meeting new investors or business owners and growing your network even further. (3)

Conclusion

Every new business leader and entrepreneur faces the same daunting as well as exciting challenges when they start out on a new business venture. To increase your chances of success, plan methodically, and set financial expectations and objectives. Take one step at a time, and don’t be afraid of getting things wrong a few times before getting them right. Don’t quit your job at the first sign of success. Take your time and invest in the growth of your business; this includes networking.  

References 

  1. “Why Taking Small Steps Can Make A Big Difference”, Source: https://www.thinkadvisor.com/2018/07/26/why-taking-small-steps-can-make-a-big-difference/?amp=1 
  2. “Study: For 78% Of Startups, Networking Is Vital To Entrepreneurial Success”, Source: https://www.forbes.com/sites/federicoguerrini/2016/11/10/study-for-78-of-startups-networking-is-the-key-to-entrepreneurial-success/?sh=bf36a4a41951 
  3. “The Secret To Effective Business Networking”, Source: https://www.forbes.com/sites/allbusiness/2019/09/21/effective-business-networking-secrets/?sh=4b8f70f418a6 

 

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