Individuals starting up their own business will have their own ideas, rules and regulations as far as start-ups are concerned. Obviously one man’s meat is another man’s poison, therefore this is only a general one.
If this is decision time for you and you have decided to start your own operation, then these 12 important rules should come in handy:
- Be in love with what you want to do – only start a business if you are completely fanatical about what it is that you want to do. After all this is going to be a long-term and time-consuming part of your life.
- Under no circumstances hire a PR firm – a PR firm’s job is to call and email individuals you already are in contact with, the shows you already know and watch and the websites you often frequent.
- Be present – if you have a withdrawal plan, this means the business is not a passion (the same as going into a marriage having divorce as an option).
- Birds of a feather – only hire individuals that are as enthusiastic as you are.
- The bottom line counts – it is imperative to find ways of making money and how you will go about creating sales.
- Core competencies matter – it is imperative that you concentrate on your core competencies and focus on these; only hire individuals that will bring this to the table; individuals with the expertise, but don’t cost a fortune to hire.
- Time is money – maximise on time by meeting at a coffee shop means not having a coffee in the office and an opportunity to talk to future customers and clients. There are 24 hours in the day and if people love what they do they will find ways and means to make the most of the hours in a day.
- No offices – open offices are great at keeping everyone on the same page. Keep a healthy distance from those demanding frills and extras.
- Utilise what you already know – start-ups should always begin with what they already know as this is perhaps the most cost-effective method to embark on a new venture.
- Keep what your business flat – starting with supervisors and more bosses is a no-no which will fast lead to politics in the work-place in addition to a failure in the business.
- Don’t waste money – keep your costs low by spending little on frills and flashy items that is meant to impress, which reduces cash flow.
- Remember to keep it light and fun – keeping the start-up enjoyable by putting the pulse on levels of stress; always remember to praise and reward the people working for you for a job well done.
When starting our put yourself in your customers shoes and see what you can do even better – then add a dollop of hard research and analysis before embarking on your start-up.