Why Now It's A Right Time To Start Your Business

Why Now It's A Right Time To Start Your Business

Surely, you think to yourself, now is not the best time to start your own business?  After widespread economic growth in the first decade of the new century, talk now is of austerity and downsizing.  Will people really buy your products and services?  Perhaps you are worried about leaving a regular job for the uncertainty of working for yourself?

The truth is simple.  People will continue to buy what they need or desire, provided it is presented to them in an easy, affordable and attractive way.  And working for yourself can give you more control over your own career. 

Of course running your own business will be hard work.  But it will all be worth it after your first, second, third and every next contract or new order.

How to Start Your Business: Tips

Here are some tips on getting started. 

Write a business plan.  In the first instance, write it for yourself.  Even if you think about your business idea constantly, the simple act of writing it down will help you spot potential errors.  The key components should be the business’ objectives, strategy, the market context and financial forecasts.

Once finished, ask for some feedback from experienced business people, friends or family.  All feedback, even if critical, should be taken seriously.  After all, others are your potential customers.  Try to see things from their perspective.

Focus on what you know how to do.  If you have always loved toy airplanes and have extensive knowledge about this, it may be best to start selling these rather than products you never buy yourself.

There is no greater way to learn about running your own business than by getting started.  But you can still learn skills and techniques by attending courses, seminars or other learning sessions.  A good tip is not to prioritise learning over practical experience: do not put off starting your business until you feel you know everything you should.

Check you abide by the necessary rules and regulations.  Internet businesses can sell all over the world: do you need a licence to sell in particular countries?  What are the rules on keeping products stored in your property?  It is best to know before you are informed of fines or illegality.

Managing Your Business

Managing your business can be time intensive.  If you expand, you will likely need to recruit, develop and retain staff.  You will also need to have a good administration system in place, not least in terms of financial management.

You may find it useful to consider a contractor payroll solution. An Umbrella Company is a company that can take on your financial paperwork, leaving you free to focus on growing the business.  A contractor payroll solution means you can rely on a professional approach that means your staff are paid correctly and on time.

Marketing Your Business

Marketing your business can be satisfying and highly creative.  The more people know about you, the more are likely to buy your products.  Internet marketing especially search engine optimisation (SEO), is one of the best ways of getting your brand in front of people.  Think of key phrases people are likely to use in searching for a company like yours.  Structure your website accordingly, constantly driving your key messages.