How to start a successful small business

Get it right from the ground up.

Most people who work in any sort of business venture would agree that they are experts at their product or service. That’s the whole reason they got into it in the first place right? They had specialised skills, or a product that they thought was better than the rest. Entrepreneurs come and go all the time, and sometimes they were on to something really great. They just didn’t know how to manage the “business end” of their business. Here is a few tips to help out those who are struggling in the big wide world of self-employment.

So what do you need to do? It obviously can’t be completely compiled into a few simple points. But these items make up the fundamental core of business practices.

1.       Business Plan.
Many business start out without having a detailed business plan, or business strategy. This is like getting into your car without knowing where you’re going, all you know is you’re going somewhere. Think about a business plan as your overall goal.

  • Demographics: Who are you selling to? Why will they want your product or service over others?
  • Marketing Strategy: What is your key niche, and how are you going to have people find it.
  • Operations: How is the business set up; accounting structures (see your accountant), where are you located, are there any regulations you need to adhere to?
  • Management: It’s all well and good to know your product and service, but do you realise there is a lot of paperwork behind running your business. This is where a great bookkeeper comes into play. They can cut down the fuss and let you concentrate on the important things, like your business.
  • Financial: Have you got money to get going? If you don’t then you’ll need to show your Business plan to the banks in hope they’ll give you some start-up funding.

Remember that having a business plan is more than just an initial process to get you going. The plan is designed to keep you on track. Try not to get side tracked as you go, keep targeting your initial market (unless you found other markets are better). Think of your business plan as your business’s bible, refer to it when you feel lost, and let it remind you what it’s all about for you.

A great starting point would be to check out: http://www.business.gov.au/Howtoguides/Thinkingofstartingabusiness/Pages/HowdoIwriteabusinessplan.aspx

You’ll find a business plan how-to and a template making the process a breeze.

2.       Your Brand.

This might seem simple to a lot of people, but the essence of branding is often lost on new business owners. Consider the name of your business carefully, you’ll have it a long time and it will become the anchor in people’s minds eye. Create more than just a logo and a name for your business, you need to create a brand. This is important as people connect with brands, not with a name. Find something that fits your industry and reaches into the hearts and minds of your audience.

How? Well a good start would be either having a graphic designer help you with your logo, and before you even get there, do some research yourself if you think your business name and basic logo idea’s really fit in with what people will connect with.

Creating a brand is extremely difficult, so don’t rush the process. Ask a lot of questions look at idea’s from the internet and see what others have done. You’ll get there in the end.

Remember if you have a business name idea, even if you aren’t sure it’s 100% the one you want, you should register the domain name for it as soon as possible. We recommend CrazyDomains it’s quick, cheap and easy to do. It’s now more important than ever to secure your domain name as domain real estate sells out quickly.

The link below will take you to CrazyDomains and you can secure your domain name idea for the future.

Cheap Domain Names
.com.au, .com, .net and many more!

3.       Effective Marketing.

So you’ve got a new business idea and a product that will rock the market!? Great, no one cares… That’s because you have to get the message out there! You will need to explore every avenue of marketing, because the majority of new business will start with zero customer backing. What options are there to consider then in a world saturated in marketing colours, sounds and impulses every which way you look.

The key to successful marketing is to connect with the people who need, want, or don’t yet know they want, your product. Obviously times have changed and much marketing focus has shifted to the internet. But how do we make the internet work for us?

  • Check out free advertising strategies first.
    • Facebook:
      • A fantastic way to start up your brand. First try and get your friends on board by liking your page. Slowly and surely keep the interesting content coming and you might just find those likes rolling in
    • LinkedIn:
      • If you’re a professional trying to network your services, Linkedin provides a great way to meet other professionals who can connect with your business.
    • Website:
      • This is definitely the single most important aspect of your new business. An effective, modern and user friendly website says something about your new business. It shows you mean BUSINESS. If people are impressed by your website then you are already half way on to having them join your business bandwagon. See a quality web design team, they can make all the difference, and you’d be surprised at the affordability.  For those interested, our site was created by www.go1.com.au. From top to bottom.

Ok so we know the internet is important, but so is taking advantage of direct visual advertising strategies. Do you have a commercial building? Does it have a wall? PUT A SIGN ON IT. Make sure it’s catchy and professional. The last thing you want is cheap and nasty advertising because that’s exactly what people will think your product is if they see it.

  • Signs
    • Signs are a great way to use the space you are provided with to its maximum potential. Signs are not expensive, require very little maintenance and if you use them right, will bring in business for the long term
  • Promotional Gear
    • Depending on your business, some effective advertising means is to create promotional gear which can either be given out, or sold. Remember slather the item with your new logo and branding that you’ve worked so hard on creating. People really appreciate this, and it creates great word of mouth advertising potential. Consider
      • T-shirts
      • Hats
      • Pens and stationery
      • Bags
      • Literally anything that suits your business that won’t send you broke giving away.

So if you can start out building a good website, have some exposure whether it be street, or online, your product or service has a good chance of getting a footing.

4.       Honesty, integrity and positivity

Many who start out in a new business are coming from a salary and wages background. Not a problem, but don’t forget your role is different now. Now you not only have yourself to be concerned about, but your business and its image. Always remember that you should act honestly and treat all customers with respect and integrity, they deserve it. Creating a positive image around your business will greatly strengthen your word of mouth advertising reputation and help forge long lasting customer loyalty.

With these basic foundations your business should be on its way to success. Don’t let yourself lose hope if you find things very difficult at first. This is natural. Be resourceful, goal orientated and keep trying until you get it right.

-James Webb