5 Essential Strategies for Starting a New Business

Starting a new business is an incredibly brave, time-consuming and difficult thing to do. It is also very exciting. Here are a few pieces of advice to keep in mind so that you feel in charge and on top of your new endeavor.

  1. Tell everyone you know. Whether you're starting the next google or a cleaning company, be vocal and be proud of your project. This is what you're doing, so be confident in yourself and what you are doing. Do not keep it a secret, waiting until it's perfect and ready to be unveiled to friends and family. Chances are it will never be perfect. Talking and showing excitement about your new business will involve others in the process and generate a buzz. They may be able to lend a hand, or point out constructive opportunities for you to improve upon.
  2. Seek out mentors. You might think that most people who have already done what you've done are off on their high horse, unwilling to help out someone who has barely gotten their feet wet. This is generally not the case. Find people who have succeeded in your field, ask them questions, ask them to mentor you. They will likely be flattered that you see them in this light and be willing to offer you advice and guidance. Do not shy away from criticism or feedback alike; treat them as gifts, so that you can improve and in turn become more successful.
  3. Be professional. There is no excuse for doing something poorly. Make sure you present a polished and developed front for your business. Some ways to do this are to invest in creating a professional logo and developing a website. A polished front invites potential customers and clients into the arena of trust, despite the company’s low level of experience. Remove any barriers for them to mistrust your newness; you may be just starting, but you will provide a higher standard of quality than your competitor, and they will see this in the front you present.
  4. Have a defined business plan or vision. This keeps you driven and focussed. A clear mission statement also helps potential customers and clients understand what your are provided and what is expected of them. When beginning a new venture, individuals may try to do too much too soon in their exuberance for the project. It is important to avoid branching off onto a million tangents too soon, before mastering the core purpose. The age old adage of a sound foundation being necessary to create a sound structure applies well in business.
  5. Take time for yourself. Starting a new business is a lot of work. You may find yourself logging double the hours you did while working for someone else. It is vital that you take time off to unwind, and re-align yourself with your purpose. A strung out, stressed out and freaking out entrepreneur is not likely as successful as the one who is in touch with their purpose, and full of direction. Whether through meditation, exercising, or taking time out in nature, be sure to refresh, rejuvenate and recuperate from all your hard work. When you return to your project recharged, fresh and full of ideas, you'll be glad you did.

Always remember one important thing; you are going out on a limb to do something different. You are writing a new rule book for your life, and chances are you'll stumble a few times in the process. But, in the long run, nothing can be more worthwhile than grabbing the reigns to your life and determining your own destiny by striking out on your own. Pat yourself on the back, because you're doing something a lot of people are too scared to do.


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Posted on Nov 11, 2008
Wendy Paxton
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Posted on Nov 6, 2008