Starting Your Own Business – Top Tips To Stop The Mind Monkey
Are you a woman with a great business idea?
Many women consider running their own business because they recognize that it provides them with the flexibility and freedom to manage their own career path, their own finances and the family, something an employee situation doesn’t always offer them.
If you are women or mum considering starting your own business venture don’t be put off by the whole process of developing your own enterprise, there is help out there to make the process easier and to help you get off to a great start. No one can guarantee you success in business but you can only try and learn. If you are a natural entrepreneur, hard working, savvy and even lucky, who is to say that you can’t build an amazing, successful business whatever your market maybe?
Don’t let distractions and doubts stop you, they are idea killers, so pay no attention to them. If you give into that negative voice or the “mind monkey” in your head that says you can’t do it, you may fail to follow your dream and implement your amazing ideas. Consider the follow:
- Do you feel like you have a great new idea and that you want to explore more?
- Do you have the drive to accomplish a new goal that will benefit others?
- Do you have the zeal to shake things up and strike out on a new, professional adventure?
If these thoughts are familiar to you, you may be ready to start your own business; however, a good business idea is just the beginning. You have to research, plan, and get advice from people who have built their own business, and done it successfully from active promotion and budgeting to navigating typical start-up challenges.
Think about what sort of business you are: a sole trader, limited company, a business partnership, company limited by guarantee or a social enterprise. Google or YouTube are good places to start your research journey. You can learn from others such as step by step instructions on how to set up your company or how to use the latest technology to launch your business. There are also many third party companies who will advise you for a small fee from what kind of company you should be, to registering with an organization such as *Companies House or in the case of a sole trader registering your company with the Tax Office to ensure you follow the correct rules for self-employed tax and National Insurance.
You may need to open a business bank account, so talk to the business advisor at your local branch. They can interview you to assess your eligibility for a business account and provide any other hints or tips that can assist you on your journey. If you need seed funding, banks may not provide you with a loan unless you can demonstrate two years of proven sales. There may be start-up loans for new businesses from other organisations, so explore that possibility. Your bank will know who are the recognised organisations to approach or which websites to refer to for starter funds, so go to your meeting armed with a list of questions. Be prepared to develop a business plan. Look for templates, if you get the figures wrong at first don’t worry, you can amend and develop it at any time. Some business starter funding organisations will even help you to develop your plan and mentor you for a year or so.
To build your customer base, look at all the opportunities that social media can offer to increase your ideal customer, reaching not only your local areas but with the potential to reach millions of people worldwide. Facebook, Twitter, Instagram, Pinterest and Linkedin all have unique functions to help you to grow your business idea. There are also lots of super cheap or free books on Amazon Kindle that can provide you with excellent guidance. Are there any free webinar courses available to help you grow your business? But be careful not to get hooked into the sales pitch at the end if you are not ready to buy their services or be bombarded with marketing emails in your inbox. However, you can hear some great business ideas from entrepreneurs with a track record of success and learn from their mistakes.
Top tips for making your dreams become a reality!
Evaluate Your Idea
Before you jump into a new business venture, figure out your unique point of view and how you will set your business apart from others. If the idea is good enough, people will talk about it.
If you have an idea for a service that isn’t currently being offered, it’s perfectly reasonable to think about it in terms of a future business and start building a plan for how you want to put your idea in place. If your idea will undoubtedly fill a need, then it’s worth your time to consider it.
Promote on a Budget
After you come up with a great idea, the next step is coming up with even better marketing and promotional ideas. Unless you put the time and effort to get the word out about your business, it won’t go nearly as far as you’d like it to. Ultimately they will be to your advantage.
Cope with Challenges
Roadblocks come with the territory when starting your own business, but if you know what you’re up against before you begin; you can brainstorm strategies for how to bounce back quickly.
Even the best business ideas can go through shifts and changes, creating a business can initially be a confusing process.
Building your team
You need help sooner rather than later while it may seem like a good idea to have a bunch of friends work for you for free or super cheap just to get things done; this kind of approach could be detrimental to the business long-term. Keep your eye on increasing human capital and always keep your business goals at the front of your mind so that people who are helping you understands what you’re trying to accomplish.
Money matters! If your business requires you to purchase specific items to do your work, think about which of those resources need to be of high quality and which can be purchased used so that you can save money. Secure funding by being passionate about your business.
Finally, focus on presenting yourself well, it’s not easy to start your own business, but with the right mindset and a proper game plan, it can be an enjoyable experience that could really help others.
Some of these examples are UK based so use local information channels to understand all rules and regulations of starting a business in your own locality or country.
Whatever you do good luck and don’t listen to the mind monkey.
*Companies House incorporates and dissolves limited companies, registers the information companies are legally required to supply, and makes that information available to the public. There are more than 3 million limited companies registered in the UK and 500,000 new companies are incorporated each year (Provided by GOV.UK).
Author: Asian Mums Network blogger
Some recommended reads:
Share This Post: