Start-Up 13

Learn From Your Mistakes: There is not a single successful businessman out there who never made mistakes. Maybe there was a market trend they were following and did not see a bend in the road, or it was a failed venture that never took flight. One of the most successful entrepreneurs out there is Richard Branson. If you follow the Virgin brand closely, you will see as many start-ups that worked were also start-ups that nose-dived. But you never hear Mr. Branson cribbing about it. Taking it with a shrug and good humor, he looks ahead to the next potential business opportunity. True, he has the finances to afford a minor slip-up, but it is more about the never-can-die attitude that gets successful businessmen going.

Prioritize: This is a super important “secret” of successful people in the biz. As an entrepreneur you will be inundated with emails, calls, meetings, updates, news and what-have-you. There will be individuals taking your time all the time and you will feel it is your responsibility to answer to every disturbance. This is absolutely false. Your concentration should be on one thing at a time. You’re here because you want to build your venture. Anything else that doesn’t fit into that description has got to go. Start every morning by setting a timetable and figuring out how your day will be spent and then stick to that.

Keep Researching: Another success secret is all about knowing your market. No business has ever prospered by staying stagnant. You need to make sure that you learn from your peers, read magazines, research trends and stay abreast with the latest news. Markets are changing on a daily basis, so start your day by reading the newspaper and coming up with a plan. You will find that as your business starts to take on wings, you will need to customize your vision for what suits your enterprise the best at this moment.

Hire The Best: Bill Gates famously said: “I will always choose a lazy person to do a difficult job…because he will find an easy way to do it!” The best part about owning your own business is that you get to hire whoever you want to work for you. ALL successful business people surround themselves with those they work well with and who have the same wavelength for thinking up ideas and strategies. This is key because firstly, you spend so many hours with them and you want to gel well with your colleagues and secondly, they are the catalysts who will improve on your ideas as well as come up with brain sparks to boost your business. You need allies in business and if you can hire them, you are sorted!

Have Fun: Do not think that just because you are running business means that you need to sit in front of your computer or at meetings all of the time. Thank God the age of the BlackBerry has passed! All successful entrepreneurs make the time to relax because this helps them rejuvenate and come back with brand new eyes. Tycoons like Richard Branson take it a step ahead by working from their place of vacation, but if you are not able to do that, at least plan a holiday over the weekend. A change of scene always helps with refreshing your brain. Encourage your employees to take days off as well as they will come back with renewed energy to help you run your enterprise.

Have any other tips on how to make a business a success? Maybe you have your own victorious story that you would like to share. Comment below!

If you are a person who has is thinking of, or just launched, a start-up, you may be looking all over for inspiration about how to get your business working and move ahead in the game. Here are a few tips for small enterprises that should get you going:

 

•    Networking: At this stage of starting-up, you might have limited finances and clients, which is faced by almost all budding companies. What you can take advantage of, however, is the popular phase of social networking sites. There is a food truck that does the rounds in New York and the only mode of advertising is through micro-blogging site, Twitter. They let their customers know what’s on the menu, have live tweets about their current location and entice people with their mouth-watering delicacies to keep them on the edge. All major social media sites are free and accessed by millions of users, so take advantage and market your brand as much as you can through this avenue.
•    Keep Positive: Rome was not built in a day, but through it all stayed put and till today stands strong. Have a little hope. You might be excited about your venture and expect that others would feel the same, but true success doesn’t necessarily happen over a week, so don’t feel dejected if the world isn’t yet buzzing about your enterprise. Keep the faith and work hard, grabbing at valid opportunities whenever they arise. With a good attitude and a positive mindset, you and your company will soon start going places!
•    Build Loyal Customers: As a start-up, you won’t have a line of customers outside your location in the beginning. But as soon as you get patrons, do not let go of them. They are your walking advertisers, and if treated well they will return to your business and bring other potential customers along with them. You can come up with offers like providing a free service, discount coupons, referral offers, etc. Anyone loves a bargain and if you show that you are generous, people will automatically be attracted to you.
•    Find Opportunities: As a start-up or small enterprise, your resources would be limited. Even the big guns in the game sometimes find it a problem to get what they want and have to search real hard for it. This is the time that you take any opportunity that will benefit your company. Even if you are given the opportunity to work for free, if that means that your enterprise is going to get promoted, then take a grab at it!

If you want any more tips and resources about your start-up, you can visit smallbiztrends.com for more information.

Liked this article? Have any other tips for small businesses to make their mark? Maybe you want to share your personal success story. Comment below!