6 Simple Steps To Starting A Business
They say that if you love what you do, you’ll never work a day in your life. Well, that’s all well and good when you’ve gotten to the point that you can rely on your side hustle, full time. For those who are just starting out on their business venture, the work that goes into creating a business – especially on the admin side – can be incredibly daunting. However, that doesn’t mean it’s not worth the extra effort that goes into creating a business. Here, we’ll be giving you the basics of what you need to know. So you can get to work starting a business the right way, with the basics covered.
Research Your Role
It’s all well and good saying that you want to work in the industry that tickles your fancy. However, without researching the role and understanding what you need to do in that role first, you may just be enjoying the fantasy of a job that doesn’t exist. Research the sector you’d like to get into, before you start.
So, for some, the goal might be to become a nail technician. In which case, you would need to complete a course to become qualified in that area. For others, it could be copywriting (which is how I started out), in which case you should understand the basics of SEO and algorithms (not sure what those are? Then it’s time to research!).
Invest in Yourself
If you haven’t been doing any training prior to starting your business, then it’s time to start investing in the right areas. While many people utilise their experiences picked up in other areas of life, it’s important to understand why they’re transferrable. While there are some out there who have begun their business without training, it is certainly not advisable and can even be downright risky.
Not to mention it could lead to serious mistakes. And those mistakes wouldn’t only cost you more time and money in the long run, but they could ruin an otherwise perfect reputation. Having the training behind you gives you a solid foundation to back yourself up. It also keeps you up-to-date on the latest information, and proves to clients that you’re not just doing this for fun – it’s something you care about.
In particular, if you need certifications in order to practise in a legally protected area – such as health and wellbeing – then you should never cut corners.
Create a Plan For Starting Your Business
For those of us who aren’t natural note-takers, you might find yourself groaning at the idea of having to create a business plan. However, having a plan to hand is absolutely worth it. It will help you to analyse your strengths and weaknesses. Not only that, but you can then take that plan to your bank or business advisor (there are some free business advisors available across the UK, if you’re not sure where to start) and prove your intention and dedication.
One good option is to follow a SWOT analysis – but the research you do (see the first step) can also be a major boon, here. Remember that, just like anything in life, small and manageable goals are key to success.
Consider The Costs of Starting a Business
Now that you know what your next steps are, it’s time to consider the costs of your new business. Depending on what industry you want to get into, there’s naturally going to be a lot of variation here. For example, the start-up cost for a mobile hairdressing business is likely to be very different to others. Such as the start-up costs for a hairdresser with a solid location to work from. As you can see, it’s not just about the line of work you want to get into – but how you plan on conducting that work, too.
Make a list (I do love my lists), which takes into account any outgoings you might have. Don’t worry about your income, right now. At least, not until you’re ready to get out there and face the world. Instead, keep focusing on what you’ll be spending every week. And keep reminding yourself that you’ll need to be earning at least this much, in order to break even. Breaking even should be your first goal – remember small steps = big changes.
Network, Network, Network
People buy from people. Especially if you’re planning to work in a person-centred environment, such as a beauty business. So, get yourself involved in networking events, and don’t be afraid to name-drop your business when talking to friends, family and strangers. Fake it ’til you make it, regardless of what industry you’re in. It’s a cliché for a reason! And soon you’ll find that you’re ready to take on the world. And you’ll be showing off that confidence that you’re ready to instil in others with your newfound skills.
Bring up your business at every opportunity and don’t be shy about it. Let people know who you are and what you do! After all, future clients will be trusting you – not your business. As such, they need to know that they can put their complete faith in you.
Be Prepared to Work Hard When Starting a Business
One of the best things about the start-up being so hard is that it weeds out those who aren’t quite ready to make it. It’s hard, it takes a lot of work. Don’t get me wrong, I know plenty of employed people who work hard – but I know that self-employment made me work harder than I ever have before. Get ready to hyperfixate, because you have to live and breathe your newfound commitment to your business. That’s why it’s so damn hard to set up a business in the first place. But the rewards are so worth it.
Also, don’t forget to have a little faith in yourself. Learning new things, bettering yourself and starting a business are all completely bad-ass things. There’s no shame in taking small steps – and even a step back from time-to-time. It’s all part of the process of creating a viable business. Finally, remember that the friends you make along the way, will likely become your allies and cheerleaders. After all, they’ve been there and they’re going to be rooting for you.
And, most importantly, don’t forget to congratulate yourself from time to time!