Before you Start Your Business - 5 Must-Do's
Opening a business is busy work.
It involves loads of tasks and responsibilities and usually a considerable amount of stress.
Making some early decisions and acting on them can hunt off some anguish later.
Take a look at our 5 "must-do's":
Get some Industry Experience:
Even if it's "backroom"drudgery, being in the fray is so much more valuable than looking on from above.
Get your hands dirty.
Know how it feels to do tasks you may not normally do.
Don't risk just looking at the glamorous side, the "pretty" stuff.
Generally when you start your own business, you'll be doing most tasks yourself, so get into knowing what that's like early on.
You'll end up being a much better boss when you do employ staff.
Do your Sums:
Put simply, you have to know how many customers per day will be needed to walk through your door to keep the business healthy.
So, some elementary maths are in order to make it all work.
Do a breakdown of gross and net costs to get to the bottom line.
That will translate into numbers of customers you need and /or numbers of items/services you need to sell.
Really, if the results don't stack up, then re-think your strategies.
Hunt for the right location:
Don't take second best when you're finding a place to set up.
Just because a space is available, doesn't make it right for your type of business.
Think hard and long before you sign that lease.
If foot traffic past your door is important to your type of business, then position is king.
Main road isn't necessarily helpful it can be too busy for people to stop.
Walk the walk.
Assess a location at all times of day.
Look at parking, public transport, general access facilities.
Look for surrounding businesses which can "spin off" yours.
Then, you can think about the fitout!
Get yourself looking good online:
Don't get carried away with a fancy website unless google can find it.
Now, this isn't going to happen on day one, so get your online presence out there well in advance.
Announce that you're coming.
Get customers excited.
Small tastes of what's to come are fantastic.
Make sure they know where you're going to be located and when you're about to open.
Use as many forms of social media as you can for your pre-launch.
Meet the Neighbours:
Make connections with other small businesses in your community.
Creating a sense of community amongst other like-minded business owners in the area can lead you on the road to success.
Meet and talk to them.
Do simple things like finding out what community events are on then help out.
Engagement like this can catapult your budding business into position.
Connect with high-profile businesses to make yourself known, offer some samples of your forthcoming product or services.
This is a good way of building connections pre-opening time.
Then, publicise all this on social media and don't forget to invite them to the opening!