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Top tips to starting a business

Written by: Helen Dowling

Article Overview: If you’re considering starting your own business, it’s a good idea to think it through before you go ahead. Helen Dowling shows you her top 10 tips to getting it right first time.

Top tips to starting a business

1. Do your homework. You may think your idea is fantastic and your friends and family have probably told you it is great too, but what do other people think? Test out your idea on your potential customers before you start.

2. Work out your costs. You must be able to have enough money coming into the business to cover what your product or service costs you to make. If you don’t, you’re in danger of not making any money out of your business.

3. Think of free ways to promote your business. Let’s face it you’ve got enough to spend your money on without spending it on marketing. Think about where your potential customers go (i.e. if your customers are mums, they’ll go to schools, post office, doctor’s surgeries etc) and go where they go.

4. Don’t spend a fortune on a website. Believe me you’ll want to change your website after a few months when you get to know what you’re doing. Spend the money on your website then and get it done cheaply at first.

5. Write a business plan. Too many businesses don’t write a plan and 90% of them will fail during the first 18 months. If you write a business plan, 90% of businesses are still going after the same period. What would you prefer?

6. Be passionate. Your business idea should be something you would happily get out bed in a morning for without being paid. Your passion will come across to customers and everyone you meet and will help you get started.

7. Don’t worry about getting a ‘niche’. Listen, all of us would like to find the perfect idea that no-one else has thought of, but then you’ll need to work hard at telling people what it is because they won’t have heard about it. Competition is good! Your ‘niche’ is all about you – it’s what you’re passionate about that makes you stand out.

8. Forget about other people. Countless new businesses are worried about telling people in case their idea is stolen. But remember 60% of people are sat in businesses right now wanting to start their own business – but, only 3% actually do it. So, even if people think it’s a great idea, chances are they won’t actually set up. Bite the bullet and tell people!

9. Go for it! We’re all a nation of “what ifs” and “it won’t work”. If you’ve done your homework and believe in your idea, go for it! Also, remember that everyone is an expert, even if they’ve never run a business before. Trust your instinct – not theirs.

10. Go on a start-up course (well I would say that wouldn’t I?). But, a start-up course is run by experts who will give you the real answers – not rumours that your friends and family have heard. Our next 3-day start-up course, costing just £99 will be held on the 18th, 19th and 20th February and then every 3rd Monday to Wednesday of each month in Cheltenham. Have a look in our profile to book on.

Good luck.

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Article Tags: business idea, enough money, fortune, friends and family, homework, marketing, new businesses, niche, own business, passion, post office, surgeries, worry, write a business plan



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Re: 10 Tips to Start an Online Business - Thanks for the tips Anya101. They make a useful checklist for anybody building a new website or starting an online business.
Starting a Online T-shirt Company - Hey, I am very interested in starting a T-shirt company. I know it will be really hard because of all the struggling T-shirt companies already out there. I was wondering if you guys had any tips for me to be successful. I am already working on a site, I have a few designs for my shirt. I know one of your tips will to have nice looking shirts, and I am already trying my hardest at that. I was thinking of spending a lot of money on advertising and do you guys think this will pay off? And would it also be better to spend (Ex) $100 a month on one advertiser or spend $50 each on two different advertisers. Thanks.
Finding a Fashion Design Mentor in Canada - Hi, I am a fresh new entrepreneur, and I see the need for a mentor, as fashion design is a very competitive and expensive market; I want to avoid as much error as possible. If you know of any areas where I can start looking for a virtuous candidate; please reply. Along side a mentor I am open to any tips of starting a fashion business. Thanks Tabitha
Help Me Start A Business - Can you spot a need in the market? If you can, see if starting a business based on that need is of interest to you. If it is then write up a venture plan to see if your idea is viable or not. I wish you the best of luck starting your new business, Nana~
Hello! - Hi all! I'm really glad I found this site because it's teaching me a lot about starting my own business. I think that, nowadays, there is a lot of opportunity for starting your own business, as opposed to joining a company as an employee, and people should take advantage of this fact.


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