WHAT TO CONSIDER

Before you even start your business, there are a handful of things you should take into consideration to maximise your chances of success.

• 1. What is it you're actually going to be selling?
• 2. Who exactly are you going to be selling it to?
• 3. How can you maximise the price you charge?
• 4. How are you going to find people to buy OR how are those people going to know about your service or product?

You want to give careful consideration to these four questions because failing to do so can result in you struggling to get off the ground and certainly hinder longer-term success.

The rest is administration…

Once you’ve given careful consideration to these four questions, everything else really is administration. Getting the business registered, finding a good accountant you can work with, and setting up your software and systems to work for you in the business. You may feel that you require the services, the skills, or the abilities of other individuals and all of this should be carefully considered before you start and certainly before you start spending money.

MONEY

Once you start your new business, you’ll be spending money. You’ll either be spending money to live, or you’ll be spending money within the business.

And assuming that you don’t have unlimited funds, this could be viewed as the countdown clock, how long you have to make your business successful before you potentially have to give up on your dream. Therefore, the more consideration you can give to your business before you start, the quicker you’re going to be able to be up on money once you do. The less money you’ll waste, the less time you’ll waste, and the more opportunity you’ll be able to embrace.

MINDSET

All that being said, real learning is only going to happen once you start your new business. Therefore you want to get your mindset in the right place before you launch, that mindset is one that you are going to want to adapt quickly; that you’re going to work hard, you’re going to keep your motivation levels high, and that you are going to go out there and you are going to sell, and when people say no, you’re going to continue to sell, and you’re going to adapt and you’re going to evolve and you’re going to stick with it until you start to achieve that success.

HARD WORK

You’re going to have to work hard, potentially harder than you’ve ever worked before. You will have to make sacrifices in the early days, and some of those sacrifices will also be felt by those people closest to you. If they don’t know why they’re making those sacrifices as well, they can start to disengage from your dreams, your goals, your ambitions, and potentially your business can be a threat to them. You could potentially lose their support, and you even end up alienating them or vice versa.

DON’T GO IN HALF-HEARTED

If you are thinking about launching a new business. Don’t go into it half-hearted, when you decide to build a business, success will not come easy. You must go into it with your whole heart and soul if you want to be successful. However, it’s one of the most rewarding things you can possibly do.

If now’s the time for you to embark upon this journey, then I wish you every possible success.

OTHER CONSIDERATIONS

Other things to consider before you launch a business might be things like, where are you going to work? Unless you’re sitting on piles of cash you probably don’t want to rent an office. You’ll more than likely be working from home, a shared workspace or something similar. You might give some consideration to the distractions of homeworking and how you might be able to make that work best for yourself.

I would also start to have conversations with those people closest to you to get them bought into your dream, to get them bought into why you’re doing this, and to align those people closest to you with your own goals and your vision.

Being in business can be very lonely at the best of times, and it can be even lonelier when the people closest to us don’t feel they’re part of that journey. What can be even worse is when they don’t support that journey. Therefore, if you are about to start creating your own business plan and strategy or thinking about launching your own business, once you get your head clear with what you’re doing, why you’re doing it and the importance of this to you and those people closest to you, I would encourage you to get them to buy into this business journey with you so they can share your vision and dream.