If you have already decided to start a business, I am sure you must be looking for some sort of help. Maintaining a business is still easy. But giving it a kickstart is the most difficult step. There are so many suggestions out there, be it financial, materialistic, moral, and what not. But choosing the best suggestion might be tricky.
Being an entrepreneur is not easy. And let me tell you, there exists no simple formula to help you out. If you wish to start a business, you yourself are the incharge here. We can only provide you a good direction you can start thinking in. In this way, we will not be telling you to do this or do that. Based on the following suggestions, you yourself will realize what you need to do.
So let’s start.
Get a Place
Have you already thought of what you are going to do? If yes, then you need to find a suitable place where you can start working.
- Plan the future about how many employees you will be needing in the near 3-5 years.
- Start hunting office spaces that match your budget and employee count.
- In every business, going digital is utmost important. So, look out for all kinds of office furniture you will be needing.
- Get everything set and begin your work.
If you are lost about all of this, then visit Jason L‘s blog and read about setting up an office to get a deeper understanding of all things.
Hire a Team
Since you are just starting, try to cut down on employee costs. Start hiring only those people whose tasks you cannot do, and the task is required for your business urgently. You need to handle any extra administrative work all by yourself. If you are confused about how to start, think about your business and then make an organization chart based on what all functions you need. And then see, what all you can handle yourself. The rest can be hired eventually.
To hire the perfect team, make sure you take care of the following points.
- Offer some portions of profits to your employees. When a Business is starting, if the employees are made to feel that they own a part of the business, they will work even harder to make your business successful.
- Hire Experienced Staff. You don’t want freshers to use your business as an opportunity to learn and experiment. You need people who are experienced at this and can deal with various struggles which come along their way.
- Having experienced people also ensures that not all the burden falls on your shoulder.
- Form Proper team and Team leaders. This ensures accountability. The team is answerable to their team leaders, and the team leader is answerable directly to you. This also creates a chain of command and improves the overall performance of all the teams.
- Offer Paid Vacations. The load of handling is a new business is often much higher than a regular existing business. Hence, when stressed out hand out reasonable paid vacations to your most hard working employees. Such benefits also encourage others at the workplace to work harder and claim such awards and benefits.
Once you have started working, you need to promote and market yourself to your suitable target audience. For that, you can go digital to save on some cost. Build your social media profiles, join forums, and then promote extensively here. You can also build your own website in advance, and do its SEO to reach more audience. Promote that website on the social platforms and start building links to attract visitors.
Besides digital, you can also try traditional marketing methods, such as print ads, trade shows, giving away branded merchandise and business cards, create competitions, and much more. All of this will definitely increase your costs. But in the long run, they will turn out to be very fruitful.
In nutshell, you need to build a brand and make it popular. And Building a brand is of extreme importance as well. It becomes easier for all your future business. For example, if a new company launches a new variant of a sports shoe, people may not adapt to it or trust it right away. But if Nike or Puma launch a new line of sports shoes people will throng in stores to buy them. The only reason is that they are familiar with the brand and trust them.
So this is the kind of trust your brand should bring to the people. Best of luck for your new business.