Business Tips Every Entrepreneur Should Know

Written by on November 3, 2020 in Business with 0 Comments

Starting a business is no mean feat: and as the world is in the middle of a global pandemic it may seem completely impossible to begin the journey to owning your own empire.

However should you accept the challenge and decide to build a business from the ground up this year, there are a lot of things to consider and for you to ensure.

Today we are going to talk about some of the most important things you have to know as you start to build your business.

Find a gap

When you are sitting on the sofa and finally have that eureka moment, there is not a better feeling. Coming up with a winning product or service idea is amazing and this is the first stop in creating your business. Once you have your idea, take some time to research the industry and look for a gap in the market. There are many over saturated markets out there so be sure that your idea will either bring something unique to the table or that you’ll be able to compete with the competition.

Know your audience

When starting a business this year it is incredibly important for you to learn about your target audience and get to know what they want. Let’s say for example you are selling skincare products – your target audience might be women between the ages of 18-40. If so, you’ll want to choose a brand and logo that matches this demographic and target your marketing efforts to these people. It is very important for you to take the time and make the effort to know who your audience are and how to get their attention.

Utilise free tools

As a startup you probably won’t have a lot of money at your disposal and as such every penny counts. It is important that you save money wherever you can and this includes not buying software and tools that you can access for free in other places. There are lots of brilliant free tools to use as a new business and you’ll be able to build your empire effortlessly with these things.

  • Google Drive – cloud storage
  • Docs, Sheets, Slides – word documents, spreadsheets and powerpoints
  • Canva – graphic design software with templates
  • Buffer – social media scheduling tool
  • Snapseed – photo editing

Use stock images

When starting your business and beginning to build an online presence it is super important for you to use imagery to your advantage. Professional images are used online to draw people in, and when people see stunning images they are more likely to stop and take notice. While you might be able to take some good photographs yourself, it is also a good idea for you to utilise stock images online because they give off a certain tone.

Branding is key

Your branding is your identity as a company and it is crucial that you get this part right. Be sure to take time choosing your branding and your logo; and find a name that is easy to remember but is also unique to you. There are a lot of different elements to creating a brand, and it may be worth getting an expert in to help you with the details. Colour plays a big part in creating a successful brand and you need to choose colours that appeal to your product and target audience.

SEO is crucial

Search engine optimisation is one of the most important steps you need to take in your marketing journey. As a business owner, you want to draw people to your website when they search related terms, and ranking highly on the search engine is crucial for visibility and traffic. To optimise your website for a search engine you need to use keywords. Keywords should be in your content, in image descriptions, in your meta title and meta description, and within the code of your website. This can be complex and an SEO agency will be able to help you set this up.

Ensure your security

Once you start a business from your home; it is important that you secure your office as well as your network and assets. Oracle service communications proxy can help with your network, secure passwords will help with your devices, and you can consider locking your office door when you aren’t using it to ensure that no one else can access your files and documents.

Consider remote workers

When starting a business, especially in covid times, it is incredibly important for you to consider remote working. Working from home for many companies around the world has been a saviour this year, and it will continue to be a part of our lives for a long time. When hiring employees for your new business, consider hiring them remotely. Not only will this save on the cost of an office, but it will also allow you to hire from a larger pool of candidates and potentially find better employees.

Create a positive workspace

Whether you are working in an office with others or from your home, it is important to create a happy and positive workspace for productivity. A positive atmosphere at work is crucial for productivity and you should think about how to decorate your office to promote your mindset at work. This includes bright lights, light colours on the walls, and colourful artwork and homely touches. Make your office comfortable and customise it to your own tastes, the more comfortable it is the happier you’ll be to spend time there. And remember to get rid of clutter!

Save money on paper

Back in traditional office days, everything was printed on paper. Any important documents that needed to be kept would be printed, and this culture lasted for a long time with everything needing to be on paper. These days though with the rise of cloud storage, there is no need to spend all of your money on a printer and ink. As we enter a paperless world, choose to keep your documents online and save yourself the hassle.

Consider a green message

Every company has a message, whether it be for a healthier and happier world, for performance and power, or for accessibility to all. You need to have some sort of message running alongside your business to drum up and keep those loyal followers. An eco-friendly message is always a good one to take, and once you begin to use this throughout your business people will want to support you.

Know your competition

One important aspect of running a business is knowing who you are up against. Studying and being able to bounce off the competition is a crucial part of success and you need to know who your biggest rivals are. Keep an eye out for what your rivals are doing day to day in terms of marketing and sales efforts and see if you can use similar strategies for your own audience.

Balance work and home

As a new local entrepreneur we know how hard it is to switch off from work mode. However, to maintain your mental health and well-being you must learn to let work go. At the end of your working day be sure to close the door to your home office and leave everything there. Don’t allow little projects to follow you in your downtime because you will never be able to relax your mind and reset.

Learn to sell

Sales is an important aspect of any business and one which you must learn in and out. To run a successful business you need to learn how to sell yourself as well as your products and services. Understand how to come across well to prospective customers and partners, and ensure you always have a smile on your face. It may be worth taking a sales course to learn some of the tricks of the trade and how to truly find success.

Engage with your audience

It is more important than ever these days to build a relationship with your audience and garner real rapporte and respect. Be sure to engage with you audience online through social media, online through emails, and in person at launch events or trade shows. The more you engage with your followers the more support they will show you and they are much more likely to choose you over any of your competitors.

Have fun

The most important thing you should do as a new entrepreneur is have fun and enjoy the process. Starting a business is a challenge but the reward you get out of it is more than you could hope. Being your own boss and providing your own paycheck is amazing and you can control your own career path. When running your business be sure to have fun and enjoy every minute of it. It is your creation after all!

Starting a business is a big challenge and it will take a whole lot of time and dedication from you and those around you. Hopefully our tips will help you to make the most of your startup this year and lead you to profit in the years to come!

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