Posted: Friday 18 November 2022
Starting off in business for the first time but feeling like your lack of experience is holding you back?
Digital Jersey ambassador Heather-Anne Hubbell shares her 4 top tips on how to start off strong in business.
1. Make sure you’re setting goals that aren’t too obscure
It’s easy to be waylaid by goals that are too obscure. Be sure that the goals you are setting are achievable by using the SMART acronym to help guide you in your objectives. The SMART acronym enables you to set goals that are measurable, achievable, and realistic within a specific time frame so you end up realising your goals on time.
2. Set up your business plan
Your business plan is critical to your success. Business plans are instrumental to a business’s progress because they contain essential information about your company that you will need to look back on to stay on the correct path to your goals. Examples of information you want to include in your business plan are the structure of your business, the funding you’ll need to start up your business, your financial goals and predictions, etc. The Phundex Start-Up Pathway Template can help guide you through this entire process.
Speaking of funding and working out how much capital you’ll need in the start-up phase, you’ll need to work out a budget to ensure you stay on track financially. Sometimes, though, it can be challenging to see the bigger picture when you are just busy crunching numbers all the time. If you have your business plan saved as a PDF, look for ways to keep this information front and center. For example, you can import (embed in PDF terms) your file into your spreadsheet, making the PDF more accessible to those who need access to this information. It’s also a great way to stay motivated when the numbers start to seem overwhelming.
3. Speak to mentors you admire
Often it just takes a few encouraging words from those you look up to you to push you to get started in the first place. A business coach can also keep you accountable in terms of the goals you set out to achieve in the beginning. Furthermore, you get to learn which pitfalls to avoid so you don’t fall behind too much in your quest for your business to become a success.
4. Don’t overthink it
Sometimes, it’s the mere prospect of thinking of starting a business that can make us back off and resist getting going in the first place. As they say, positivity begins and ends with the mind. Therefore, be sure to guard your thoughts by focusing them in the right direction so you know when to take that leap of faith.
Lastly, if you’ve been thinking about becoming an entrepreneur, embrace this opportunity and give yourself a pat on the back for getting this far. Then, look ahead at what you have available to achieve your business dreams, and do your best to get on with it before the opportunity passes you by.
For more information about the support that Digital Jersey can offer start-ups, click here.