Building a successful new business is a roller-coaster. There will be days you know you couldn’t do anything else, and days you wish you did. Sometimes you’ll be on top of the world, but at other times it will be a struggle to drag yourself out of bed.
In the high-stakes world of starting a new business, only one thing is certain: everyone will make mistakes, but only those who learn from them will succeed.
So, to help you learn from these common errors, without making them yourself, here are 8 mistakes that startups frequently make;
The craft business boom of the last decade has brought plentiful opportunities for businesses and customers alike.
For entrepreneurs involved, however, managing growth and expansion while retaining the original values and quality that initially propels a business to success can sometimes be easier said than done.
Growing and scaling a craft business presents unique challenges but offers unmissable opportunities and rewards. So to help craft business owners understand how to successfully grow their enterprise without compromising on their principles, we asked Jeremy Torz, Co-founder of Union Hand-Roasted Coffee to share his insight and experiences;
Having an online presence is crucial for any modern business so that potential customers are able to find you online. However, many small businesses are missing out on the opportunities that being online bring.
So if you’re yet launch your business online, or are thinking of starting a new business and want to make the best of your website, here are a few handy tips and tricks from Li-at Karpel Gurwicz of Wix, to help you do it successfully: Continue…
Setting up a new business is an exciting, thrilling and all encompassing challenge! Personally, I think it is the best and most stretching form of personal and professional development that a person can do.
Creating and selling your own products and services, building a network of happy customers and managing your own time are just three of the perks that come with starting and running your own business.
But all too often, I meet entrepreneurs who are burnt out, stressed and lacking in sufficient income. This is often because they did not trial their business ideas before they got stuck in. So today, I want to convince you that you should ‘pilot’ your business idea before you launch your new venture for real.
One of the biggest challenges you face as a start-up is getting your name out there. However, even if people hear your name, unless they know what makes your business unique, they are unlikely to choose you over a competitor. Help someone understand how you can solve their problem, however, and you’re in with a chance of becoming their preferred supplier.
One of the best ways to grow awareness is to share your industry-specific knowledge. Information you take for granted can be very valuable to people in other industries . . . but only if they are made aware of it.
By sharing what you know, you not only help others to improve their business, you can simultaneously position yourself as the ‘go-to’ person in your industry, and turbo-charge your start-up. Continue…
Managing time effectively is vital if you are to prosper as a business owner, especially when it comes to running a small business when just a few people have to deal with every aspect of the business.
Despite best intentions though, we’ve all got to the end of a day without achieving any of the tasks we intended to do at the start of the day.
There are many tips, tools and guides online and in print that deal with the age old issue of time management. Most seem to over-complicate something that really shouldn’t be that complicated in principle, but Covey’s Matrix has stood the test time and is something that all business owners can benefit from. Continue…
Brainstorming was born in the 1950s and while all the other aspects of business have changed dramatically since then, the way we come up with new ideas hasn’t. Until now.
Intuitively, brainstorming seems to make sense as an approach to get new ideas on a tricky issue. Get some smart people in a room; tell them it’s time for some blue-sky, out-of-the-box thinking; and then wait for the money ideas to come rolling in.
But do you find that often the ideas of your brainstorming session don’t really meet the grade?
Do you feel that somehow you’ve not achieved the quality of outputs the people in the room had the potential to achieve? Continue…
Launching a startup is weird. You have a big idea driving you, with lots of small things to do to get going.
You don’t necessarily have lots of business coming in or staff on board yet, but still you have to run this fledgling business the way you are going to run your future super-successful business.
The way you behave, now, at the start, will set the scene for what your business will be like in the future. This is where being a good customer comes in. Continue…
The fear of failure is one of the most common reasons why people decide not to start their own business. Hauling yourself out of your comfort zone and throwing yourself into the unknown takes a certain amount of courage and self-assurance.
Leaving a cosy, secure job to try and turn your business idea into reality is definitely a risk, but if you follow sound advice you’re more likely to succeed.
When it comes to good advice on starting your own business, successful entrepreneurs are always worth listening to, so we asked David Rusenko, founder and CEO of Weebly to share his 10 top tips on starting and growing your own business;
According to Billy Ocean “when the going gets tough, the tough get going” – a sentiment many people working in business would echo and applaud. Tough is a word people often use to mean resilient. It may not scan as well, but when the going gets tough, the resilient remain resourceful, creative and healthy.
Studies have found that more resilient people are higher performers and respond better to change. They are more motivated, build better working relationships and are less likely to take time off sick or suffer from low morale. Continue…
So you’re in charge: perhaps you started the company, maybe you’ve taken it over, or you were handed the top job and told to run the show. What next?
Every company is different. But while scale of the demands placed on the chief executive of a listed multinational may be different to those a small business owner faces, many of the major challenges business leaders face are similar.
After discussing such challenges with a wide range of entrepreneurs, investors, executives and analysts, I suggest they boil down to eight essential “acts” of leadership. Continue…
The difference between entrepreneurs who succeed, and those who spend time just thinking about it, is taking action. Specifically, it’s about taking the right action at just the right time.
You might not realise it but, if you’re starting a business, you can gain a lot from using some age-old Buddhist philosophies. One particular Buddhist concept, called the Noble Eightfold Path, gives a very practical and useful framework to take a startup idea from its genus and genesis through to successful delivery. It’s also a graceful way to move forward with in life.
But, there’s no need to become a practicing Buddhist, or ‘Anything-ist’, to benefit from the principles of mindfulness. Here, Tom Evans, author of ‘The Authority Guide to Practical Mindfulness’ explains how you can help turn your business dreams into reality with these 8 mindfulness hacks;
The US Marines are world-famous for their exacting standards and ruthless efficiency. The conditions they operate under might be very different from those we see in the commercial world, but there are very valuable lessons that businesses can learn from the Marines.
Here, James Bowen and Brian MacNeice, authors of Powerhouse – Insider accounts into the world’s greatest high performance organisations – explain what your business can gain by studying the strategies and tactics of the US Marines. Continue…
Experience tells me that one of the reasons why people start up their own business is to be their “own boss”, and that means they don’t want to be constrained by petty, bureaucratic, small mindedness being meted out every minute of their working lives.
The reality is that we all need rules. In the words of Al Murray (“The Pub Landlord”) “Where would we be without rules? France!”
I am not going to inflict upon you here a doctrine of rule-bound obedience leading to business success, but rather propose a Ten Commandments of Behaviour which are intended as a benchmark against which to measure yourself.
You can use them when you feel that perhaps you’ve ‘missed the mark’ or, better still, use them today, right now, and see how a change in behaviour might benefit your business. So here are the 10 Commandments of Behaviour tablets, delivered to your door; Continue…
If you can create a culture of learning, not blaming, in your business, you are more likely to see your business grow and flourish.
If you allow a blame culture to take hold in a business, staff will tend to hide, or even cover up, any mistakes. This attitude can often compound problems further. On the other hand, a learning culture encourages errors to be highlighted so everybody can learn lessons from them.
To help explain the benefits a learning culture brings to your business, and how you can instil such behaviour in your team, we asked Justin Hughes, author of The Business of Excellence: Building high-performance teams and organisations to share his experiences and to explore a few of the key issues around a learning culture; Continue…
If you were to survey a group of entrepreneurs about why they started their business, I’m sure you would get a huge variety of interesting answers. Of course many of them will have been motivated by money, but I would bet that one of the most popular reasons would be a desire to create something meaningful for themselves.
The prospect of taking control of your own destiny and being your own boss is a powerful motivator. I personally spent years as a Wall Street trader but found that the money I earned and lost just became numbers that had very little meaning to me.
Chasing money felt like an empty pursuit, and deep down I really wanted to start and run my own business, be the boss, and build stuff that I could actually point at. Continue…
The inspiration to start a business can come anywhere at any time: in the pub, in the shower, in the supermarket, walking the dog. How many times has someone you know announced they’ve had a great business idea? And how many of those eureka moments ended up getting no further than a few notes on a napkin?
Why was this? Too much hard work involved? Concerns over starting a business being too risky? Worries about it needing too much commitment?
But those aren’t barriers to every business idea taking off; some ideas do make it from conceptualisation to conclusion. The difference? Dedication and passion. And perhaps necessity. Continue…
A key skill for business owners is the ability to deliver a successful business pitch.
A pitch can take many different forms, it might be pitching for contracts with possible new customers, highlighting potential opportunities to new partners, persuading talented individuals to join your team, or trying to win investment to grow your company.
With the ability to pitch being such an important tool in a business owner’s armoury, here are some simple steps you can take to give yourself the best chance of succeeding with your pitch and getting that handshake.
An entrepreneur with a super power memory would be able to easily remember important business related facts & figures to demonstrate that they are the go-to “expert” in a particular field.
This person would also be able to smoothly pitch for business and give presentations from memory without notes to be more persuasive. While the ability to effortlessly recall anecdotes would allow them to quickly build rapport with clients.
A business owner like this would also great at networking because of their ability to remember the names of everyone that they meet, and important things about these people. While valuable new qualifications could be quickly gained because exam material would be easy to master.
The great news is that you can become this business person with a super power memory! You actually already have an amazing memory and with the memory training tips in this article, I’m going to help you unlock your full memory potential. Believe it or not, this is also going to be easy and a lot of fun!