Starting your own Business

Starting a business is a ”learn as you go” interactive process. It is a labour of love and money. If you wait until you think you know everything you will ever need to know about starting a business you never will start it.

Starting a business is a bit like organizing a wedding. It’s so easy for costs to spiral out of control. Therefore use a technique called ‘bootstrapping.’

Do not spend a penny more than you have to. If you can use your old computer – use it! If you can work from home – do so! However do not waste money on cheap stationery as this is false economy. Spend your money wisely on looking professional and even well established so that potential customers will trust you. As your business earns money put that back into it to help it grow. If you can start your business before you give up your job or run out of redundancy money and savings then do so.

Starting a business is not an easy way to a fortune, it takes time and dedication. However get it right and you could become the master of your own destiny, something that very few employees experience.

Choose to start a business where you can use your existing skills to the full and those that you love using. If you are to succeed you must love what you do otherwise the tough times that you will face (and you will) will make you give up the journey before you succeed.

I would suggest that you read books that will inspire you to have a go at business and seek help from people in business already. Join a networking group and use social media to find good contacts. If you plan to be good at what you do you will succeed.

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8 thoughts on “Starting your own Business

  1. Great blog, wise spending is absolutely vital in the initial stages. Be sure to do a mini budget and work out what you can afford and prioritise your spending.

    As an example I bought some cheaper Vista print business cards when I set up. I felt it was more important to get my name out there. When they ran out I spend a bit more money on some decent ones. I got a lot of comments noting the improvement, which means people obviously took notice of them!

  2. This is a good article,but I would like add to it.There is a lot of people who have great ideas.All they need is a little encouragement.There is a local group in my county and you can find out more information about them on the internet and they are called SCORE.They are a group of retired professionals with a business background.I have personally met with them for advise and I was very enlighten with their knowledge and help.Check them out.

  3. I completely agree with Business being a learning process, especially when you are young like me (im 17) and have no business experience. I have read many great books, that have inspired me to push forward and not give up. As well as reading, I speak with local entrepreneurs and ask questions when I get the chance. Another thing i do is attend seminars. In one occasion, I remember having to sell my ipod :/ to be able to purchase a plain ticket and fly out to attend a 3 day business convention. I was bummed, but I have made the choice to be a “go-getter” and do whatever it takes to make things happen, and now that i look back, it was totally worth the sacrifice.

  4. Tony,
    It is good to see someone like you prepared to put in the effort to have your own business. Every entrepreneur will tell you that you have to make sacrifices to get your business going and that it will be worth the effort later.
    I wish you well with your business.
    Roland

  5. As a new business owner and having spoken now to many who are either just starting or have learnt by thier own mistakes one of the biggest issues is advertisingmarketing. I know I have spent money in the wrong places and have signed up for contracts that last at least 12 months which have given me no return. I would recommend that especially when you are a new business owner that you look to good networking organisations like 4networking. Here you can get some brilliant free advice and achieve more profile. I still, of course, have not always listened but at least I am learning.
    I agree with Phil Hendy that you should set a budget and stick to it while encouraging word and mouth/referal activity.

  6. I learnt through trial and error in the beginning with my advertising. It is well worth talking and listening to other people. But take in to account that what works for some doesn’t always work for everyone. A couple of clients found me by placing an advert in a local gym which was free!!!

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