From the ground up

Let’s set the scene. It’s 2020 and you’re done with talking about that dream of yours. You’ve decided take on the exciting challenge of starting your own business.

“Where to start?”

Some tips on how to make those small steps count:

• “What can I offer?”
The direction of your business is easier to take when you know the “why”. Ask yourself what is unique about what you can offer to the market you wish to target. This will help you see into the minds of your customer/clients and create something that is fit for purpose. It will also give you the competitive edge in the marketplace.

Keep it simple
When starting a business, it can be easy to fall into the trap of over-complicating elements. This goes back to the “why” of your service and focusing on what it provides to your target audience. If your brand is valuable and your marketing is strong, you don’t need the embellishment of unnecessary costs. You can add and fine-tune as your business grows.

Over prepare
Once you start to develop your business plan, you will need to list all costs (down to the coffee you drink to stay awake!). After you have calculated this, you will need to quadruple the total. There are going to be many curve balls thrown when it comes to expenses and it’s definitely better to be over prepared than under.

Filter advice
When you plan a start-up business, you will be given advice whether it is solicited or not. The important thing is to take on board the advice that sits well with you and your situation. Of course, listen to others, but don’t let yourself become overwhelmed. Act upon the advice that resonates with you and fits in with your business plan.

Don’t give up
To start your own business, you cannot let your failures stop you. A lot of start-ups focus on the mistakes, but this won’t benefit you in the long run. Have a balanced approach, accept that it will not be plain sailing but that it will offer both positive and negative experiences that will leave you knowledgeable and resilient. Determination and focus are fundamental to success.

Don’t quit the day job – just yet.
Earning while you transition into entrepreneurship is vital. It will take time to earn a steady income. Once there is a consistent inflow of cash from your business, you can then make the leap of going full-time and quitting that 9-5 job. Until then, a sense of security is important throughout those tough first few stages.

Acorn Business Centre
– here to support you during all stages of your business development:
• Virtual office services to provide – professional business address, post receipt, call divert, call answering and other services.
• Meeting rooms, to meet potential clients in a business environment until you are ready to take on the commitment of an office.
• Starter office space that will grow with you as you grow your business.
• Self-storage units – if you are providing products that you need to store prior to sale.