Tips for Business Startups

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We have compiled a list of tips that business startups, and those interested in starting a business, may find helpful. We posted these individually on our Twitter account and decided to provide the entire list for our readers/followers. Please note that this is not an exhaustive list, and we will add to it from time to time. Feel free to share your tips with us on our blog, and please share this post with others.

 

Tip # 1

Your business should be serving a need. It’s called supply and demand for a reason. Is what you’re offering needed?

 

Tip # 2

Only focus on the area(s) you are MOST skilled. Don’t try to be a one-stop shop or you may end up a one-stop flop.

 

Tip # 3

Seek to solidify your company’s foundation before you seek growth. You need something to rely on in hard times.

 

Tip # 4

Everyone you know and everyone you meet also knows someone. Build lasting relationships.

 

Tip # 5

Networking is like speed dating. You’re always looking for the next person. Instead focus on building relationships.

 

Tip # 6

When you do decide to hire employees, test FIRST then filter through resumes and applications. Saves time and money.

 

Tip # 7

If you operate your business like you do your hobbies you will get paid the same. Have fun but be committed to success.

 

Tip # 8

It’s gonna be a hard, bumpy road the ENTIRE time. You constantly have to reinvent, rewire and rethink business strategies.

 

Tip # 9

If someone isn’t calling you or your idea(s) “CRAZY” then you aren’t thinking bold enough!

 

Tip # 10

Don’t fear failure. Push yourself and work your plan. You might fail but the test is GETTING BACK UP.

 

Tip # 11

Develop a team of mentors and advisors to help you. Their honesty and counsel will help you through good and bad times

 

Tip # 12

Hire or contract in the areas you aren’t strongest in. You shouldn’t be the smartest in your circle.

 

Tip # 13

No one cares or loves your business or your ideas more than you. It’s okay. They just need passion to see things through.

 

Tip # 14

Don’t call your projects or what you do “small/little”. Break the habit or other people will respond the same way.

 

Tip # 15

You need one person on your team who sees your vision and purpose, one who can keep you on/under budget and one who can build.

 

Tip # 16

The team members mentioned in Tip # 15 may be only ONE person.

 

Tip # 17

The most successful people focus ONLY on their strengths. Consider finding yours by taking the Gallup Strengthsfinder assessment, or a comparable resource.

 

Tip # 18

Keep low overhead–contract with consultants and virtual staff, recruit volunteers and interns to help with administrative work.

 

 

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Copyright 2013-2014. Foreman & Associates, LLC. All Rights Reserved.

 

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