The pitfalls when starting a business
SalisburyBEC offers you the opportunity to learn about the pitfalls when starting a business and the signposts to success for your new or existing business.
The average person believes money is the most important thing in starting a business. “You need the money to start up a business” – It’s a common statement, which you hear. However, successful businesses know the truth to be the opposite - Money follows performance, integrity and reliability, not the other way around.
Here are some basic business fundamentals that here at SBEC, we’ve come across.
1. Don’t start a company unless it’s something that you love or are obsessed with.
If you have an exit strategy, it’s not an obsession. When starting up a business, being a highly committed leader, whose ambition is to build a business. When starting up a business there must be a full committment.
2. Hire people who you think will love working there
Often the founders or leaders when building a team – they know when to let go. As founders, they are more concerned with building the business than micro-managing and calling all the shots.
3. Treat your customers like they own you, because they do
No matter how big your business gets, you never actually own it. Your customers are the true owners and it is much easier to be nice, respectful and to put yourself in your customers’ shoes and try to understand how you might be able to help them before they ask for help, then it is to try to mend a broken customer relationship.
4. Make sure that you are easily accessible to your customers.
In every business making sure your customers have your email address and you can be reached easily and directly. Consider the idea that every email or phone call is an opportunity to solidify a customer relationship or to meet a new customer.
5. When starting up a business the best start-up capital is “sweat equity”.
There’s no room for excuses when launching a business. Not having much start up money or lacking a cache of professional connections isn’t an excuse. When starting up a business the investing time, no matter how many hours a day to learn more about the industry and the business.
For 2012, our first workshop is Introduction to Business Planning, which is goes into a step-by-step process to the key essentials to the planning and the decision making process for any business.
Also look in booking in for one of our workshops for 2012 for $50 or for any four workshops just pay $175 – in addition you will receive two hours of complimentary mentoring.
Some articles, which I found to be an interesting read, were: