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The Three Most Important ThingsTo Know When Starting Your Small Business
Have you been toughing it out in an unhappy working environment for years, desperate to make the break? You might be in the position of having to look closely at doing something yourself as lay-offs loom. Whatever the reason, if you are considering going "SOHO" (small office home office) here are 3 of the most important considerations facing you - issues that might on one hand make you think that the small business route isn't in fact the best way forward for you. Alternatively even considering them may excite you enough and put enough wind in your sails to start putting plans in place here and now.
The "SOHOly" Trinity - you, your proposition and your customers. What do you know? What can you offer of genuine worth to a prospective client. What skills have you acquired over your education and professional life that you can use to make money? These days many are transferable. Copywriting, copyediting, copyproofing, sales, consultancy, design, web work you name it – there are thousands of new niches and business fields mushrooming. Do you understand your industry, your sector with enough insight and experience to be able to identify moneymaking opportunities? Do you understand the past and present of your business well enough to be able to see the future? What are the trends worth following and where are he dead ends, the unrealistic and expensive business dreams?
What is your proposition? Are you able to differentiate it from others or will you end up with just another 'me too' business – late on the scene, lacking in traction, originality, experience and established client base – likely to fail. If you were thinking of selling stationery, for example, you might ask yourself, why would a customer buy stationary or labels, envelopes or buy ink cartridges from you as opposed to an established company with a reputation and better purchasing power that means they can pass these savings onto their customers? What value are you adding to your products or services? Be faster, be cheaper, better quality, newer, easier options to win new business. Can you? In all honesty if you were your own customer would you buy from you? Identify 2 good reasons to give yourself a chance in the real world. As a new kid on the block you have it all to prove.
And what about your customers? Not the fantasy customers who flock to you all smiles and credit cards but the real hard-nosed, time-short, hungry for the best quality for the least price customers. Have you a clear understanding of who they are, where they are, what they need, what they want and what might motivate them to work with you? Are you well connected? Is your network a valuable source of potential new business or does it need nurturing? Do you need to work on establishing your credentials, your reputation, your offering before flying "SOHO" and trying to take your contacts list with you successfully?
We're talking marketing here. Just because you're now hanging the 'open' sign on the door doesn't mean that anyone is going to come in. They probably don't even know you exist. You need to know your customers. If you know who they are then you know how to reach them and how to appeal to them. You're not short of options with printed media, TV, The Internet, sales letters, seminars, cold calls. There are a thousand and one ways to connect. Save yourself the time, trouble and expense by making sure you connect with the right people in the right way. It could cost you a fortune if you get it wrong. Get it right and you could be well on your way.
Author Resource:-
Depending on the size and nature of your new business, dealing with stationary suppliers may be an important area. Mark Bartley's help and advice for the small business has helped many get a great start on the way to building successful businesses.
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