Starting a business is not easy and often involves an obstacle course of administrative hurdles, frustrations, disappointments, and more. However, by being vigilant, avoiding traps and being tenacious, you can succeed. Discover our tips for running your business successfully.
1 – Be determined and persevering
To start a business, you need to take risks; be prepared to measure and overcome the various difficulties that will come your way. It may seem obvious to you now, but always believe in your idea and project. Despite the obstacles, do not give up and continue to make sacrifices and move forward.
2 – Surround yourself with the right people
Your loved ones and friends will inevitably be indispensable. However, their encouragement might not always be enough. Choose your professional entourage strategically. Continue to expand your network and find business partners whose skills complement yours. Participate in business groups and meetings. Surround yourself with trustworthy people who support your dedication, have gone through the same experiences, or are simply sincerely interested in your project. Also, know how to listen to and accept constructive criticism, it’s not always easy, but will do well for your business.
3 – Set specific goals
To put the odds on your side and to know your potential for success, it is essential to correctly establish a business plan that outlines objectives, the means to achieve them, as well as a precise timeline. As part of this business plan, don’t forget to conduct a market research, which is an essential step in evaluating the viability of your project. You will also need to define your marketing strategies and make your financial forecasts. Of course, you can always adjust the information in your plan as your business progresses.
4 – Find sources of funding and help
Once you have projected expenses in your business plan, seek sources of financing to achieve your project. Whatever your profile or situation, there are many organizations that can finance your project, including associations, which sometimes offer special programs by age group. You can also use crowdfunding platforms or enter contests to win financial awards.
In addition to financial assistance, consider asking people or organizations for help to develop your business strategy, marketing tactics, etc. These may include mentors, chambers of commerce and incubators.
5 – Work in small teams
From personal experience, it’s easier to share your ideas in a small group than a big one. This is one reason for Gore’s success. Indeed, the company explains that there are several advantages to working in a team of six people or less, including faster ownership of the project. You can then enjoy greater productivity by delegating multiple projects at the same time.
Of course, there are many other tips to follow in order to succeed. These include thinking carefully about the status you want for your business (France or Quebec), knowing how to separate your professional and personal life, joining workshops, and learning to manage your time and workspace.
Kiwili can also help facilitate your daily business management!
About the author: Christine Hébert is a writer and editor. Curious by nature, she is interested in many subjects, including entrepreneurship. Her goal is to make life easier for readers by offering easy-to-apply tips. Find Christine on her Facebook page, Twitter account and LinkedIn.