There is obviously so much to keep in mind when taking the huge leap of faith to start a business. For me, there have always been five big things that have stuck out as guiding principles when I’ve decided to begin a new business venture, and I wanted to share them with you!
1. Differentiate Yourself
Take the time to truly understand the market you’re entering into. I am a firm believer there is a seat at the table for everyone to succeed in this world, but understanding your niche and where you bring value is so incredibly important. Research your target audience, dive into their behaviors, and make sure to have tangible ways to measure success. If you see a gap in the market you are looking to jump into, take the leap!
2. Invest in a Good First Impression
You only have one chance to make an impression, so be sure you have taken the time and made the investment to make it impactful. A business can live or die by word of mouth, so investing in standout branding, and finding little moments to go above and beyond for your consumer will make a lasting impact in the longevity and success of your business.
3. Know Your Strengths…And Weaknesses
This one may be cliche, but not everyone is good at everything. Know what you’re really good at, and be okay with leaning on mentors, partners and colleagues for support through the things you’re not super familiar with. Bringing in experts in places you may be unfamiliar will set your business up for success far more than stretching yourself thin trying to get yourself up to speed while also keeping everything else running smoothly.
4. The Business Plan
My Type A self loves a good plan. In business, having a plan is crucial. The plan may fluctuate, grow and change, but it’s so important to have a really solid starting point. As a business owner, this will continue to hold you accountable to the goals, finances and milestones you have set and allow you to pivot accordingly.
5. Prepare to Wear Many Hats
Everyone knows I love a good hat! (But in all seriousness) if you’re thinking about jumping into the world of being a business owner, prepare for long hours, sleepless nights, and juggling many facets of the company while getting things off the ground. You need to be completely sure you are ready and 100% invested in making your dream a reality because it’s hard work. Make sure you are ready to take the leap and give it your all in order to ensure its success!