How to start a Successful Small Business
Starting your own small business can be a struggle, with everything from finding office space to hiring employees; there’s so much to remember and to keep on top of. It’s not uncommon for start-up difficulties to happen, so rest assured you’re not the only one experiencing these problems! It may not seem like it now, but these challenges are what will grow and strengthen your business as well as your own resilience, courage and confidence.
The first step to setting up your own business is overcoming fear. However, it’s important to say here that fear is a completely normal emotion to feel at this time; you are potentially taking a huge risk. You might find yourself wondering things like; will I bring in enough money each month? How can I be sure clients will come back? Have I made the right decision to do this? Will people think I’m crazy? The best way to overcome this feeling is to learn how to thrive on fear. Be so scared of having to quit and fail that you have no option but to succeed. The first stage is overcoming your own thoughts and emotions, but once you do this nothing will stop you.
Next, you are going to want to look into office space. It can be difficult for small companies to acquire commercial property, so the best way to overcome this is to seek advice from a charted surveyor. You need to ensure you get the correct type of premises for your business whether that’s office space, a retail building, a garage or an industrial unit. With so much to consider including legal requirements, premises size, appearance, location and costs, it can be a minefield. Seeking professional advice on premises or shops to rent before choosing will help you to select the right choice for all your needs.
Similarly, when looking for office space, it’s important to get advice from a professional about any type of agreement or contract. The last thing you need is to be stuck in a contract of renting office space that is weighed unfairly in the landlord’s favour. You should ensure you set a monthly premises budget when looking for premises or shops to rent and search accordingly. You should also decide how flexible you want to be about the condition of the premises, are you willing to adapt or improve them? Do you have the budget for it? Or is that just hassle you don’t want? Seek professional advice accordingly to avoid mistakes.
Starting your own business also requires ensuring you hire the right people. As a small business owner, you want to build a strong team from the offset. Working in a large company is very different for employees to working in a small business. You want to look for people that would be comfortable walking into something new every day and who are confident dealing with change and uncertainty. This means you might have to alter traditional hiring methods and utilise personal connections. Prepare yourself beforehand on how you are going to hire employees and proceed with caution.
Most importantly, ensure you maintain your integrity. A successful small business isn’t a straight forward process with a simple journey from A to B. It can be messy and complicated and have ups and downs. In the beginning, you can feel desperate for work, but by no means should you lower your prices or standards just to get a client or sale. This will lead to bad habits from the start that can be difficult to break. Remember that you decided to take this leap for a reason and believe in yourself and your small business, that way other people will do too.