In the Google age, there is never any lack of advice available for every topic. From recipes to DIY home projects, it’s easy to learn a new skill or discover a useful life hack. Starting a new business, however, is another subject entirely.
As a leading supplier of flexible workspace in California, Business Workspaces is known as a trusted source for all things pertaining to business. Additionally, many of our clients are new or small businesses, and this gives us access to a lot of data in terms of what works and what doesn’t when you’re just starting out.
Here are our top tips for starting a new business – in no particular order:
1. Create a business plan
Marketing and budget strategies are vital components of a sound business plan. When crafted well, your business plan will provide you with useful information about your market, your competition, and what you need to do to make it all viable. Ultimately, you don’t want to jump into a new venture feet-first, only to find out it was doomed from the start. If it’s worth doing, it’s worth doing right.
2. Be fearless
Starting something new is not for the faint-of-heart. You will face many uphill challenges, and to be successful, you need to learn to meet them head-on. Rely on your instincts and experience for the things you know but lean on outside experts when needed. This will provide you with the resources and confidence to proceed without trepidation.
3. Take advice when it’s given
Whether this is your first outing or one of many, keep in mind that there are always more experienced, more successful people that came before. Even if you don’t feel a competitor has a lot to offer, many times there are still lessons to be learned. Be humble and listen to what’s being said. You’ll never learn anything if you’re the one doing all the talking.
4. Cut costs from day one
Launching a new business comes with many up-front costs. There are business licenses, permits, technology, office space, business cards, and the list goes on. The good news is, there are a lot of cost-effective solutions to help you manage your budget. For instance, choosing a coworking space or a shared office space eliminates the need for signing a costly lease. You also won’t have to spring for furniture, utilities, support staff, and more. If you start off on the right foot financially, it will allow you to grow your business strategically and give you a leg up on your goals.
5. Network like a pro
A great idea, concept or product is nothing if nobody knows about it. Research networking events or opportunities in your area. Choose trade events in or related to your niche, but don’t limit yourself to niche-only activities. For instance, your local BIA can be an excellent resource for meeting other local business owners who may be interested in what you have to offer. Get out there and work it!
Need more tips or have a few of your own? We’d love to hear about them! Reach out today to learn more about Business Workspaces and find out what we can do for you.