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What a start-up needs to know and an established business should already

IJP Consultancy Ltd

Earlier in the year I was asked to contribute an article in a business magazine to offer some short and sweet tips to people who were thinking about going into business or who had not long set up.

For those that know me this was a bit of a challenge as I usually don’t do ‘short and sweet’! :-)

I was then asked if I would deliver on the same subject to a networking group of young entrepreneurs, which I subsequently did in Birmingham and that was so well received that I thought I would share them here.

1. Be crystal clear why you are going into business in the first place.

2. What is your Vision? Where do you want to be in 3-5 years?

2. Do you have a strategy to achieve this? Depending upon your background you probably need some help with this.

4. Have a support network. e.g. Friends with relevant experiences. Preferably get a coach/mentor. It’s not a cost it’s an investment. You will achieve far more, far quicker with one than without.

5. Have you a financial business plan/budget? Build in a contingency to cover your living costs for at least 6 months.

6. Do you have ALL the relevant skills you need? You may be good at what you do, be it a butcher, baker or candlestick maker, but what about all the other skills you need – sales, marketing, finance etc.

7. Allocate time per week to do ALL the tasks involved in running a business.

8. Self-Development Assign time and money to develop yourself. It will be the best investment you ever make!

9. Marketing. How and where are you going to do it? Where do your prospects hang out and what are their ‘Hot Buttons’?

10. You have to be able to sell! No orders means no money! Do you know what to say when someone says ‘No’ or how to prevent one in the first place? What will you say when someone says it’s too expensive? (the answer isn’t I’ll give you a discount!)

11. Always ‘over deliver’ and WOW your target market. Hence the 11 items! :-)

As you will I am sure appreciate each tip could be the subject of a blog in itself so if you would like to know more about anything here please get in touch.

If you'd like to know more please give me a bell on 07504 056368 or drop me an email to ian@ijpconsultancy.co.uk

Ian J Preston 

 

Ian is a leading Business Coach & Trainer and Keynote Speaker. He heads up IJP Consultancy Ltd, established to share good practice gained from over 30 years’ experience in business to help you be more efficient and achieve your goals. Services include: Sales, Marketing, Personal & Team Development, Goal Setting, Business Planning and Time Management.